E_mg_GB_03_vorne-29_3_04

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80 CONSOLIDATED STATEMENTS OF INCOME January 1 - December 31, 2003 1/1/2003 - 10/1/2002 - 12/31/2003 12/31/2002 Note u ’000 t ’000 Revenues 6,403,195 1,518,791 Cost of sales – 5,028,468 – 1,146,619 Gross margin 1,374,727 372,172 Selling expenses – 614,472 – 161,141 Administrative expenses – 583,512 – 155,768 Other operating income 16 115,419 39,913 Other operating expenses 17 – 263,005 – 43,658 Restructuring costs 18 – 121,535 – 7,530 Financial income, net 19 – 88,655 – 17,813 Income before income taxes and minority interests – 181,033 26,175 Income taxes 20 55,391 – 58,033 Minority interests 21 – 2,431 – 1,200 Profit/loss on continued operations 22 – 128,073 – 33,058 Profit/loss on discontinued operations – 70,527 2,060 thereof gains/losses on disposals – 5,223 0 thereof taxes on income – 9,945 1,402 thereof minority interests – 904 – 428 Net loss – 198,600 – 30,998 e per share e per share Basic earnings per share 23 – 1.02 – 0.16 thereof on continued operations – 0.66 – 0.17 thereof on discontinued operations – 0.36 0.01 Diluted earnings per share 23 – 1.02 – 0.16 thereof on continued operations – 0.66 – 0.17 thereof on discontinued operations – 0.36 0.01 Weighted average number of shares outstanding (in thousands) 23 193,778 193,333 The accompanying notes are an integral part of these consolidated financial statements
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 CONSOLIDATED STATEMENTS OF CASH FLOWS January 1 - December 31, 2003 1.1.2003 - 1.10.2002 - 12/31/2003 12/31/2002 u ’000 t ’000 Net loss – 198,600 – 30,998 Adjustment of net profit/loss from discontinued operations 69,623 – 2,488 Depreciation and amortization of fixed assets 212,953 48,783 Further non-cash expenses 2,644 22 Change in pension reserves 10,418 6,461 Change in other accrued liabilities 165,769 – 83,074 Loss on disposal of fixed assets (prior year: profit) 5,790 – 2,903 Change in inventories incl. unbilled PoC receivables 1) – 6,407 – 53,880 Change in trade receivables – 87,559 85,654 Change in trade payables 55,580 – 67,733 Change in deferred tax assets and liabilities – 108,169 44,240 Change in other operating assets and liabilities 14,805 12,929 = Net cash used for operating activities of continued operations 136,847 – 42,987 Proceeds from disposal of fixed assets 54,954 8,462 Purchases of property, plant and equipment and intangible assets – 256,054 – 62,026 Purchases of investments and long-term financial assets – 16,134 – 1,515 Purchases of securities – 32,385 – 11,181 Proceeds from disposal of securities 86,605 19,977 Payments for acquisition of businesses – 11,859 – 7,231 Proceeds from disposal of businesses 1,137 0 = Net cash used for investing activities of continued operations – 173,736 – 53,514 Proceeds from the issue of new shares (SOP) 6,545 0 Dividend paid by mg technologies ag for the prior year – 59,937 0 Dividends paid to minority interests – 2,546 0 Change in capital lease liability – 9,130 – 3,909 Net purchases of bonds and financial liabilities 48,011 99,116 Change in the Group’s financing 6,770 519 = Net cash provided by financing activities of continued operations – 10,287 95,726 Changes in net assets from discontinued operations 23,965 2,911 Proceeds from disposal of discontinued operations 30,254 0 Exchange-rate-related and other changes in cash and cash equivalents – 8,375 2,227 = Change in unrestricted cash and cash equivalents of continued operations – 1,332 4,363 = Unrestricted cash and cash equivalents at beginning of year 160,554 156,191 = Unrestricted cash and cash equivalents from continued operations at end of year 159,222 160,554 Restricted cash and cash equivalents 12,730 4,737 = Cash and cash equivalents from continued operations as reported on the balance sheet 171,952 165,291 1) less advance payments received The accompanying notes are an integral part of these consolidated financial statements 81
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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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MANAGEMENT AKTIE STRATEGIE SONDERTE
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Key Figures for the mg Group RESULT
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