E_mg_GB_03_vorne-29_3_04

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130 11) Liabilities Financial liabilities at December 31, 2003 consisted of: 12/31/2003 12/31/2002 u ’000 t ’000 Bonds 300,000 298,000 thereof maturing in up to 1 year (–) (–) thereof maturing in 5 years or later (–) (–) Liabilities to banks 843,797 774,097 thereof maturing in up to 1 year (200,300) (122,987) thereof maturing in 5 years or later (65,546) (52,361) Liabilities from capital lease obligations 98,210 133,543 thereof maturing in up to 1 year (13,937) (19,375) thereof maturing in 5 years or later (45,505) (53,277) Promissory notes payable 2,477 2,532 thereof maturing in up to 1 year (2,311) (2,532) thereof maturing in 5 years or later (–) (–) Total 1,244,484 1,208,172 Of the total financial liabilities, a306.425 million (prior year: a309.601 million) relates to Dynamit Nobel. These are broken down as follows: 12/31/2003 12/31/2002 u ’000 t ’000 Liabilities to banks 219,638 192,695 Liabilities from capital lease obligations 86,093 116,145 Promissory notes payable 694 761 Total 306,425 309,601 Bonds relate to a bond issued by mg technologies finance B.V., Rotterdam, and guaranteed by mg technologies ag. The interest coupon on the bond is 7.25% (prior year: 6.75%) p.a. The increase in the coupon is due to the credit rating downgrade by rating agency Moody’s Investors Service in October 2003. The interest paid on liabilities to banks mainly varied between 4% and 6% p.a. The increase in liabilities to banks and the decrease in liabilities from capital leases essentially arise from the first-time consolidation of the four leasing companies belonging to Dynamit Nobel in accordance with FIN 46r (for further information see Note D) ‘Scope of Consolidation’). As a result of this consolidation, liabilities to banks increased year on year by a42.358 million and liabilities from capital leases decreased year on year by a27.909 million. Total financial liabilities of a43.156 million (prior year: a53.479 million) are collateralized by mortgages. Cash and cash equivalents of a26.3 million (prior year: a114.6 million) were used to temporarily repay medium-term bank loans beyond the balance sheet date. Appropriate loans were utilized again in January 2004 and 2003. The fair value of financial liabilities at the balance sheet date came to a1.264843 billion (prior year: a1.209707 billion).
MANAGEMENT SHARE STRATEGY SPECIAL SECTION MANAGEMENT REPORT FINANCIAL STATEMENTS FURTHER INFORMATION Consolidated Balance Sheets • Statements of Income • Statements of Cash Flows • Statements of Changes in shareholders’ Equity • Fixed Assets Schedule • Notes • Independent Auditors’ Report Aggregate amounts of financial liabilities maturing during the next five years and thereafter are as follows: Maturing up to December 31 t ’000 2004 216,548 2005 482,967 2006 387,515 2007 26,848 2008 19,555 Thereafter 111,051 Total 1,244,484 Other liabilities at December 31, 2003 consisted of: 12/31/2003 12/31/2002 u ’000 t ’000 Trade accounts payable 789,031 731,772 thereof maturing in up to 1 year (773,788) (725,125) thereof maturing in 5 years or later Excess of advance payments received over (17) (324) unbilled receivables from long-term contracts 172,081 214,130 thereof maturing in up to 1 year (172,081) (214,130) Advances received on orders 99,018 76,461 thereof maturing in up to 1 year (99,018) (76,461) Liabilities to affiliated companies 31,033 42,172 thereof maturing in up to 1 year (31,033) (41,869) thereof maturing in 5 years or later (–) (–) Liabilities to associated and related companies 17,720 22,035 thereof maturing in up to 1 year (17,270) (20,835) thereof maturing in 5 years or later (–) (–) Sundry liabilities 285,422 223,393 thereof maturing in up to 1 year (254,625) (205,504) thereof maturing in 5 years or later (2,125) (6,458) thereof relating to tax (49,699) (43,943) thereof relating to derivatives (16,009) (20,680) thereof relating to social security (33,448) (31,067) thereof relating to employees (6,035) (5,898) Total 1,394,305 1,309,963 Of the other liabilities, a596.349 million (prior year: a467.525 million) relates to Dynamit Nobel. Sundry liabilities include a21.429 million in divested liabilities of Projektgesellschaft Daimlerstrasse GmbH & Co. KG, Frankfurt am Main (for further information see Note 4) ‘Receivables and Other Assets’). Liabilities to affiliated, associated and related companies include trade accounts payable of a13.202 million (prior year: a17.537 million). Trade accounts payable to third parties and to affiliated, associated and related companies totaled a802.233 million at the balance sheet date (prior year: a749.309 million). 131
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“2003 was a year of transition fo
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Consolidated Key Figures 2003 RESUL
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Creating freedom for action CONTENT
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MANAGEMENT SHARE STRATEGY SPECIAL S
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zation As the world’s population
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The pharmaceutical industry will co
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Milk Last year, over 160 million co
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The MODUL tablet press produced by
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For a technology-driven organizatio
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mg's mission is to ensure sustainab
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Key Figures for the mg Group RESULT
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