Annual Report - Miba

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4 In the fall of 2004, the decision was taken to build a new production facility for steel plates in Vráble, 100 kilometers east of Bratislava. After its start-up, production from the obsolete plant in Sheffield/England will be transferred to Slovakia. Besides optimizing its site concept, Miba also set a new human resources course over the previous fiscal year. Norbert Schrüfer, the former CEO of Miba Bearing Group, transferred as CEO from Miba Bearing Group to the Management Board of Miba Sinter Group. Wolfgang Litzlbauer succeeded him as the Bearing Group’s CEO and simultaneously moved up into Miba AG’s Management Board. As a result, the Management Board is once again composed of five members. One step towards intensifying the inter-site cooperation is the introduction of SAP as our core IT system, a process which was initiated in the previous fiscal year under the “conNEcT.miba” project name. The most important Miba sites successfully completed the “Go-Live” procedure. The remaining sites will follow suit in the coming months. With “Vision 2008”, which was elaborated over the previous fiscal year, and the objective “No motorized vehicle without Miba technology”, we have taken on an ambitious program for the years to come. In any case, Miba’s structure and strategic orientation make it wellequipped as a partner of the international engine and automotive industry; therefore, Miba is geared towards further profitable growth. In the name of the Management Board, I would like to thank our shareholders for the trust they have placed in us and I look forward to your continued companionship on our path to success. Laakirchen, April 2005
DI DDr. h.c. Peter Mitterbauer, Chairman and Chief Executive Officer born in 1942, married, 2 children Following his studies at the Technical Universities of Graz and Vienna, Peter Mitterbauer moved to the United States for professional experience and additional studies. In 1969, he joined the family-owned business, initially as Sales Manager. In 1973, he moved on to the Management Board, which he has chaired since 1986. From 1996 to 2004, Mitterbauer was President of the Federation of Austrian Industry and from 2001 to 2004, he was Vice-President of the European Association of Industry and Employers, UNICE. In 2005, Mitterbauer was awarded an honorary doctor’s degree from the Technical University of Graz. Management KR Siegfried Dapoz, Chief Financial Officer born in 1942, married, 1 daughter Originally trained as a banker, Mr. Dapoz started his career at Miba in 1966. In 1970, he took over the management of the Financial and Cost Accounting Departments. Dapoz has been member of the Management Board since 1986 and actively participated in the corporation’s IPO in 1989. From 2001 to 2004, he was Miba Sinter Group’s Interim Manager. 5
Page 1 and 2: Innovation in Motion Annual Report
Page 3: Income Statement (in EUR million) 2
Page 7 and 8: Annual Report 2004/05 Innovation in
Page 9: Preface by the Chief Executive Offi
Page 13 and 14: Ing. Alfred Hörtenhuber, Chief Exe
Page 15: The Supervisory Board would like to
Page 19 and 20: Excellent performance The Miba Shar
Page 21: Development of the Miba stock in th
Page 24 and 25: 18 Highlights 2004/05 Highlights Fe
Page 26 and 27: 20 Miba Bearings US LLC, USA Miba H
Page 28 and 29: 22 In 2004/05, Miba Bearing Group a
Page 30 and 31: 24 Sales volume by markets NAFTA 15
Page 33 and 34: Business Report 27
Page 35 and 36: One of the main pillars of Miba’s
Page 37 and 38: Miba Group Employees (yearly averag
Page 39 and 40: Technological leadership strengthen
Page 42 and 43: 36 At present, the West-European au
Page 44 and 45: 38 The product group gears showed c
Page 46 and 47: 40 In the past fiscal year 2004/05,
Page 48 and 49: 42 In Europe, Miba Bearing Group wa
Page 50 and 51: 44 2004/05 was a highly successful
Page 52 and 53: 46 In the preceding fiscal year, th
Page 54 and 55: 48 Risk Report Risk Report As a par
Page 57 and 58: Financial Statements 2004/05 of Mib
Page 59 and 60: A. Shareholders’ Equity: 01/31/20
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Miba Aktiengesellschaft, Laakirchen
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The annual financial statements wer
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Receivables and other Current Asset
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Sales Revenue Per region: IV Commen
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The members of the Management Board
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Acquisition and Depreciation Manufa
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Miba Aktiengesellschaft, Laakirchen
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"The accounting and the financial s
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Consolidated Financial Statements 2
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74 Miba Aktiengesellschaft, Laakirc
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80 Notes on the Financial Statement
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82 B. Principles of Consolidation w
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84 3. Foreign Currency Translation
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86 On August 27, 2001, the bearing
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88 Deferred taxes reflect timing di
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90 6. Estimates To a certain degree
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92 5. Depreciation in TEUR 2004/05
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94 10. Taxes on income and earnings
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96 in TEUR 01/31/2005 01/31/2004 Ac
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98 For the 2004/05 fiscal year, def
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100 17. Cash and cash equivalents i
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102 Provisions for post-retirement
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104 Changes in accruals As at Forei
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106 E. Other information 30. Cash f
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108 The contracts are stated as of
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110 35. Earnings per share Accordin
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112 Miba Aktiengesellschaft, Laakir
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114 Changes in consolidated fixed a
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116 Segment Reports Appendix 2 to t
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118 Equity Interests as at January
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120 Imprint Publisher Miba Aktienge
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www.miba.com
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