Business Report 2005 - Interseroh

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established, the proportionate results and the respective equity were adjusted accordingly for the purposes of consolidated accounting. 48
(15) Financial assets 2005 EUR million 2004 EUR million Long-term Interests in associated companies 1.40 1.26 Other holdings 0.31 0.74 Loans 2.51 2.78 Securities 0.01 0.01 4.23 4.80 Short-term Receivables from factoring company 1.22 0.00 Loans 0.73 0.26 Financial derivatives 0.00 0.03 1.95 0.28 The interests in associated companies concern companies that are not included in the consolidated financial statements in spite of the group holding an interest of more than 50 percent in them due to their subordinate significance. The other holdings concern holdings in which the group holds an equity or voting-right rate of less than 20 percent. Extraordinary depreciations totalling EUR 0.39 million (previous year: EUR 0.18 million) were effected for these groups of assets as a result of impairment tests. The list of shareholdings of the INTERSEROH Group are contained in the annex to these Notes. The long-term loans shown concern mainly loans to non-group companies as well as longterm tied security payments. No extraordinary depreciations were made on loans and securities in the group financial year 2005 (previous year: EUR 0.18 million). The receivable from factoring concerns a short-term receivable from the sale of trade accounts receivable to the factoring company. The underlying agreement is to be seen as a financing transaction because not all risks in connection with the legally assigned receivables went over to the factor. The corresponding repayment obligation is shown under the short-term financial liabilities. After consideration of the extraordinary depreciations effected, the book values of all other financial liabilities shown correspond to their current values on the closing date. Regarding further information on the financial derivatives, reference is made to the notes (32) and (33). (16) Deferred tax claims and liabilities The deferred taxes entered in the balance sheet can be assigned to the individual balance sheet items by cause as follows: Deferred taxes 2005 Deferred taxes 2004 Assets EUR million Liabilities EUR million Assets EUR million Liabilities EUR million Goodwill 2.93 0.99 3.33 0.77 Other intangible assets 0.00 0.23 0.00 0.26 Property, plants and equipment 0.40 1.78 0.54 2.03 Inventories 0.00 0.25 0.00 0.55 Provisions for pensions 1.90 0.00 1.86 0.00 Other provisions 1.71 0.74 1.29 0.17 Financial liabilities 1.69 0.00 1.82 0.00 Loss carry-forwards for tax purposes 0.56 0.00 3.47 0.00 Reserves (from consolidation entries) 0.00 2.27 0.00 3.13 9.19 6.26 12.31 6.91 Balance -3.39 -3.39 -3.25 -3.25 5.80 2.87 9.06 3.66 49
Page 1 and 2: 2005 BUSINESS REPORT INTERSEROH AG
Page 3 and 4: KEY GROUP FIGURES Group 2005 * 2004
Page 5 and 6: CONTENTS Key Figures 3 The Manageme
Page 7 and 8: undiminished resolve and work with
Page 9 and 10: Corporate Governance The Supervisor
Page 11 and 12: financial year and years before who
Page 13 and 14: 2. Business in Services Expanded; P
Page 15 and 16: 3. Raw Materials Trading Under One
Page 17 and 18: Secondary raw materials 2004/2005 i
Page 19 and 20: INTERSEROH Wins Top Job Third Time
Page 21 and 22: Praetorium 61. VV GmbH currently ho
Page 23 and 24: Formation of New Companies Formatio
Page 25 and 26: 2. Financial Position 31.12.2005 31
Page 27 and 28: 3. Key Consolidated Ratios in % Bal
Page 29 and 30: • organisational manual as bindin
Page 31 and 32: Since the services segment will con
Page 33 and 34: ANNUAL FINANCIAL STATEMENTS OF THE
Page 35 and 36: CONSOLIDATED NOTES FOR THE FINANCIA
Page 37 and 38: Current cash in banks or bank liabi
Page 39 and 40: According to IAS 39 (Financial Inst
Page 41 and 42: Notes on the Income Statement The c
Page 43 and 44: (8) Result from investment in assoc
Page 45 and 46: Notes on the Balance Sheet (12) Int
Page 47: The leased and capitalised assets i
Page 51 and 52: The amounts named contain the follo
Page 53 and 54: The net liabilities developed as fo
Page 55 and 56: to the passage of time, the discoun
Page 57 and 58: Of the other liabilities, EUR 0.04
Page 59 and 60: The segments performed as follows i
Page 61 and 62: 2005 EUR million 2004 EUR million W
Page 63 and 64: (36) Management Board and Superviso
Page 65 and 66: Mr. Friedrich Merz, Arnsberg (since
Page 67 and 68: (39) Events after the closing date
Page 69 and 70: The book values of property, plants
Page 71 and 72: In addition to this - and in contra
Page 73 and 74: 4. Praetorium 61. VV GmbH, Berlin,
Page 75 and 76: Annex 1 Statement of Equity Changes
Page 77 and 78: Annex 2 Consolidated Cash Flow Stat
Page 79: Published by: INTERSEROH Aktiengese

Business Report 2005 - Interseroh

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