E_mg_GB_03_vorne-29_3_04
E_mg_GB_03_vorne-29_3_04
E_mg_GB_03_vorne-29_3_04
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18<br />
Equity Research on <strong>mg</strong>:<br />
ABN Amro<br />
Bankhaus Lampe<br />
Bankhaus Metzler<br />
Bankgesellschaft Berlin<br />
Bayerische Landesbank<br />
Baden-Württembergische Bank<br />
Commerzbank<br />
Crédit Agricole Indosuez Chevreux<br />
Crédit Suisse First Boston<br />
Deutsche Bank<br />
Dresdner Kleinwort Wasserstein<br />
DZ Bank<br />
Delbrück Bethmann Maffei<br />
Helaba Trust<br />
HSBC Trinkaus & Burkhardt<br />
HypoVereinsbank<br />
ING BHF-Bank<br />
Independent Research<br />
Landesbank Baden Württemberg<br />
MainFirst<br />
M.M. Warburg<br />
Sal. Oppenheim<br />
UBS Warburg<br />
Vereins- und Westbank<br />
WestLB<br />
WGZ-Bank<br />
the buying and selling of their own company’s securities to the German Financial Supervisory<br />
Authority (BAFin) and to the company itself if the total dealings in these securities<br />
exceed the aggregate value of a25,000 within a 30-day period. Spouses, registered life<br />
partners and immediate relatives of executive and non-executive directors are also subject<br />
to these reporting requirements. If the company receives such a report pursuant to section<br />
15 a WpHG, it is obliged to publish it immediately. <strong>mg</strong> complies with this obligation by<br />
publishing such dealings on its website at www.<strong>mg</strong>-technologies.com.<br />
Executive Board members of <strong>mg</strong> technologies ag held 10,000 shares (December 31, 2002:<br />
43,717 shares) at December 31, 20<strong>03</strong>. At the same date they held 200,000 option rights to<br />
shares (December 31, 2002: 680,000). The Supervisory Board members held 40,074,371<br />
shares (December 31, 2002: 1,500 shares). They held a total of 60,000 stock options<br />
(December 31, 2002: 60,000 options).<br />
Earnings per share<br />
Earnings per share – calculated as the net income for the year divided by the weightedaverage<br />
number of <strong>mg</strong> shares in issue – came to a loss of a1.02 before discontinued<br />
operations in 20<strong>03</strong>. Earnings per share on discontinued operations amounted to a loss<br />
of a0.36.<br />
No dividend paid due to one-off charges<br />
As a result of substantial one-off charges, which caused <strong>mg</strong> technologies ag to report a net<br />
loss for 20<strong>03</strong>, the company will not be paying a dividend for 20<strong>03</strong>. The reasons for these<br />
substantial one-off charges were the risk provisioning for pre-existing problem contracts,<br />
principally in the industrial plant engineering business; the settlement of long-running<br />
lawsuits; and the disposal or discontinuation of loss-making businesses. They are also due<br />
to the cost of restructuring the <strong>mg</strong> Group and streamlining its organizational structures.<br />
Investor relations activities strengthened<br />
<strong>mg</strong> technologies ag believes it is essential to maintain a continuous, highly transparent<br />
dialog with the capital market. Against the background of the strategic restructuring<br />
initiated by the Group during 20<strong>03</strong>, investor relations is one of the key functions of <strong>mg</strong>’s<br />
Executive Board. With the participation of its senior managers, the company conducted<br />
a number of road shows, conference calls and face-to-face meetings with representatives<br />
of the capital markets during the year under review. Furthermore, the company presented<br />
its activities and plans for strategic change at investors’ conferences and to representatives<br />
of banks’ equity trading departments. As in previous years, the regional focus of these<br />
events was on the financial centers of Frankfurt, London and New York. These activities<br />
helped win a number of new institutional investors for <strong>mg</strong> in the second half of 20<strong>03</strong>.<br />
<strong>mg</strong>’s stock is now closely analyzed and evaluated by a number of domestic and international<br />
financial analysts.