Nordzucker_GB 03-04_E_.pd 1 - Nordzucker AG

Notes
capital increase of Tt 13,344 are shown in
capital reserves. In accordance with Sections
237 ff. of the Company Law, a total
of 429,400 shares at a nominal value of
t 1,099,264 were bought back at a price
of t 14,83 per share. The book value difference
of t 5,267,664.50 was offset against
other retained earnings. At a nominal value
of t 39,680.00, 15,500 company-owned
shares were sold. This brought about a loss
of t 353,914.29. Given the consent of the
supervisory board, the managing board is
authorised to increase capital stock
t 46.3m (authorised capital). The net profit
for the year contained a profit brought
forward from the previous year of
t 14,181.19.
In the year under review, the special
reserves in pursuant to Section 17,
para. 4 DMBilG were allocated to other
retained earnings.
A resolution passed by the general
meeting approved transfer of an additional
Tt 3,340 from the Nordzucker AG
annual surplus of the previous year to
other retained earnings. From this year’s
annual surplus, Tt 25,400 was transferred
to other retained earnings.
Consolidated equity capital developed
in line with table 1 below. The special
item for investment grants concerned
several benefits in the current and the
previous year from individual support
programmes.
The amounts given in the table below
for Nordzucker AG show the assets allowance
listed as a special reserve and
declared in accordance with Section 281
Commercial Code which are subject to
special depreciation.
German source
(in t mill.)
Section 3 ZFRG 16,777
Section 4 FördergebietsG 33,652
Section 6b EStG 31,716
Directive 35 EStR 798
Sections 7b and 7d EstG, KonjVO 577
83,520
Both special items will be dissolved
when the amounted depreciated under
commercial law exceeds the values allowance
under taxation law.
For the first time in the consolidated
statement, special items set aside in previous
years in line with taxation regulations
can no longer be transferred (Sec-
Table 1
Consolidated equity capital
(in t thous.) 1 Mar. 2003 Capital Capital Difference Annual Dividend Sundry 29 Feb. 2004
increase buy back result
Subscribed capital (share capital) 101,765 16,865 -1,099 117,531
Capital reserves 99,489 13,344 112,833
Retained earnings
Special reserves (in accord. with Sec. 17, para. 2,004 -2,004 0
Other retained earnings
4 DMBilG)
61,098 -5,268 -42,441 61,756 75,145
63,102 -5,268 -42,441 59,752 75,145
Adjustment item for currency disparities 624 -2,537 -1,913
Loss brought forward -8,692 -19,543 26,357 -1,878
Consolidated annual surplus 26,357 23,347 -26,357 23,347
Adjustment item for minority interests 13,336 -1,233 -7,120 4,983
295,981 30,209 -6,367 -42,441 22,114 -19,543 50,095 330,048
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