Annual Report - Miba

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90 6. Estimates To a certain degree, the consolidated financial statements are based on estimates and assumptions affecting the stated assets and liabilities, the disclosure of other liabilities on the balance sheet date and income and expenses for the reporting period. Actual amounts in the future may differ from these estimates. The principle of true and fair view was also unconditionally applied to such estimates. D. Notes to the Income Statement and the Balance Sheet 1. Revenue from sales Revenue from sales is reported in detail under the segment report where it is classified according to business segments and regions. Revenue from sales for the 2004/05 fiscal year includes deferred revenue from production on contract in the amount of TEUR -1,804 (TEUR 1,674 in the previous year). Revenue from production on contract includes period-adjusted partial profits based on the percentage of completion. The percentage of completion is determined by the ratio between the contract costs incurred prior to the balance sheet date and the estimated total contract costs (cost-to-cost-method). 2. Other operating income in TEUR 2004/05 2003/04 Income from disposal of and additions to fixed assets, except for financial assets 645 273 Income from the reversal 727 1,123 Unrealized market profits 955 990 Other income 9,155 3,726 Total 11,482 6,112 Insurance income in the amount of TEUR 2,320 is included under other income.
3. Expenses for material and other purchased manufacturing services in TEUR 2004/05 2003/04 Expenses for material 87,439 71,996 Expenses for other purchased manufacturing services 47,315 40,311 Total 134,754 112,307 4. Personnel expenses in TEUR 2004/05 2003/04 Wages 50,231 47,720 Salaries 36,501 33,342 Expenses for severance payments and contributions to company-sponsored employee provision funds 2,801 1,482 Expenses for post-retirement benefits 683 809 Expenses for legally required social security taxes and charges and mandatory contributions based on compensation 21,300 19,831 Other social security expenses 2,862 2,954 Total 114,378 106,138 Expenses for severance payments, contributions to company-sponsored employee provision funds and post-retirement benefits include payments and adjustments of the provisions for severance payments and post-retirement benefits. 91
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Innovation in Motion Annual Report
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Income Statement (in EUR million) 2
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Annual Report 2004/05 Innovation in
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Preface by the Chief Executive Offi
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DI DDr. h.c. Peter Mitterbauer, Cha
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Ing. Alfred Hörtenhuber, Chief Exe
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The Supervisory Board would like to
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Excellent performance The Miba Shar
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Development of the Miba stock in th
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18 Highlights 2004/05 Highlights Fe
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20 Miba Bearings US LLC, USA Miba H
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22 In 2004/05, Miba Bearing Group a
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24 Sales volume by markets NAFTA 15
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Business Report 27
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One of the main pillars of Miba’s
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Miba Group Employees (yearly averag
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Technological leadership strengthen
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36 At present, the West-European au
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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
Page 61 and 62: Miba Aktiengesellschaft, Laakirchen
Page 63 and 64: The annual financial statements wer
Page 65 and 66: Receivables and other Current Asset
Page 67 and 68: Sales Revenue Per region: IV Commen
Page 69 and 70: The members of the Management Board
Page 71 and 72: Acquisition and Depreciation Manufa
Page 73 and 74: Miba Aktiengesellschaft, Laakirchen
Page 75 and 76: "The accounting and the financial s
Page 77: Consolidated Financial Statements 2
Page 80 and 81: 74 Miba Aktiengesellschaft, Laakirc
Page 86 and 87: 80 Notes on the Financial Statement
Page 88 and 89: 82 B. Principles of Consolidation w
Page 90 and 91: 84 3. Foreign Currency Translation
Page 92 and 93: 86 On August 27, 2001, the bearing
Page 94 and 95: 88 Deferred taxes reflect timing di
Page 98 and 99: 92 5. Depreciation in TEUR 2004/05
Page 100 and 101: 94 10. Taxes on income and earnings
Page 102 and 103: 96 in TEUR 01/31/2005 01/31/2004 Ac
Page 104 and 105: 98 For the 2004/05 fiscal year, def
Page 106 and 107: 100 17. Cash and cash equivalents i
Page 108 and 109: 102 Provisions for post-retirement
Page 110 and 111: 104 Changes in accruals As at Forei
Page 112 and 113: 106 E. Other information 30. Cash f
Page 114 and 115: 108 The contracts are stated as of
Page 116 and 117: 110 35. Earnings per share Accordin
Page 118 and 119: 112 Miba Aktiengesellschaft, Laakir
Page 120 and 121: 114 Changes in consolidated fixed a
Page 122 and 123: 116 Segment Reports Appendix 2 to t
Page 124 and 125: 118 Equity Interests as at January
Page 126 and 127: 120 Imprint Publisher Miba Aktienge
Page 128: www.miba.com
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Annual Report - Miba

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