E_mg_GB_03_vorne-29_3_04

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46 Consolidated sales after discontinued operations in s million 6,826.5 6,403.2 01/02 03 Sales Sales broken down by region after discontinued operations Africa 2% Asia, Australia, Middle East 17% America 17% 27% Germany Sales performance largely affected by economic conditions and exchange rates The subgroup solvadis, which is due to be sold, the Boiler Plant business, and some of the non-core activities of GEA and Dynamit Nobel are shown as ‘discontinued operations’. Consequently, the sales generated by these companies are not included in the consolidated sales figure. Because of this reclassification, the mg Group reports sales of a6,403.2 million for 2003 instead of a8,156.9 million. For the sake of comparability, the sales figures for 2001/2002 are also shown in this report excluding solvadis, the Boiler Plant business, and the non-core activities of GEA and Dynamit Nobel. On a comparable basis, the mg Group’s sales thus fell from a6,826.5 million in 2001/2002 by a423.3 million to a6,403.2 million in 2003. The main reasons for this decline in sales revenue were lower volumes as a result of the economic downturn and adverse currency developments as a result of the euro’s strength (especially against the U.S. dollar). At a3,878.4 million, mg engineering’s sales for 2003 (before consolidation) were a241.8 million lower than in 2001/2002. At a2,702.0 million, GEA’s sales were a172.4 million lower than the in prior year. Lurgi’s sales during the period under review rose by a94.4 million to a591.7 million. Lurgi Lentjes reported sales of a361.3 million, a decrease of a124.3 million. Zimmer generated sales of a223.4 million in 2003, a39.5 million less than in the comparable period of the prior year. Dynamit Nobel achieved sales of a2,328.2 million in 2003, a decrease of a132.4 million on 2001/2002. The disposal of its ammunition business needs to be taken into account in this context. solvadis’ sales contracted year on year by a24.8 million to a1,416.0 million. 37% Europe (including Former Soviet Union, excl. Germany)
MANAGEMENT SHARE STRATEGY SPECIAL SECTION MANAGEMENT REPORT FINANCIAL STATEMENTS FURTHER INFORMATION New Orders and Order Books Economic Environment • Situation of the Company • Organization and Structure • Risk Report • Employees • Performance of the Subgroups • Outlook Level of new orders and order book down due to sluggish capital spending In 2003, mg engineering received new orders worth a3,652.0 million, a decrease of a405.8 million on 2001/2002. The main reason for this decrease was the cyclical lack of capital spending on big-ticket projects. This affected the subgroup Lurgi in particular. mg engineering’s order book at December 31, 2003 came to a2,190.6 million. At December 31, 2002 its order book totaled a2,585.7 million. During the year under review, GEA received orders worth a2,665.1 million, which was a182.2 million down on 2001/2002. GEA thus reported an order book worth a890.9 million at December 31, 2003. At the end of 2002, its order book amounted to a1,016.6 million. Lurgi won new orders worth a229.3 million, a year-on-year decrease of a347.6 million. At December 31, 2003, the order book of this segment totaled a416.8 million. At December 31, 2002, its order book came to a744.8 million. The volume of new orders received by Lurgi Lentjes during the year under review came to a537.8 million. This was an increase of a129.5 million on the corresponding prior-year period. This subgroup’s order book came to a645.9 million at December 31, 2003. It amounted to a596.6 million at the end of 2002. The new orders received by Zimmer fell slightly by a5.5 million to a219.8 million in 2003. The order book of this segment amounted to a237.0 million at December 31, 2003. At the end of 2002, Zimmer reported an order book worth a227.7 million. New orders received by mg engineering after discontinued operations in s million GEA 2,847.3 2,665.1 01/02 03 Lurgi 576.9 229.3 01/02 03 Lurgi Lentjes 408.8 537.8 01/02 03 Zimmer 225.3 219.8 01/02 03 47
Page 1 and 2: “2003 was a year of transition fo
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Page 5 and 6: Creating freedom for action CONTENT
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Page 25 and 26: zation As the world’s population
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Key Figures for the mg Group RESULT
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