Nordzucker_GB 03-04_E_.pd 1 - Nordzucker AG

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Independent Auditor’s Report Drawing on accounts provided, we have audited the annual financial statements of Nordzucker AG, Braunschweig together with the consolidated financial statements it has drawn up and its Management Report for both the company and the group for the business year 1 March, 2003 to 29 February, 2004. The presentation of the documents in accordance with German commercial legislation and supplementary regulations in the Company’s Articles of Association are the responsibility of the Company’s management. Our responsibility is to express an opinion on the annual financial statements rooted in the accounts provided together with the consolidated financial statements it has drawn up and its Management Report for both the company and the group based on our audit. We conducted our audit of the annual financial statements and the consolidated financial statements in accordance with Section 317 Commercial Code and German generally accepted standards for the audit of financial statements promulgated by the Institut der Wirtschaftsprüfer (IDW). Those standards require that we plan and perform the audit such that it can assessed with reasonable assurance whether the annual financial statements and the consolidated financial statements applying accepted accounting standards and the Management Report of the Company and the group relating to the asset, financial and profit situation are free of material misstatements. The evidence supporting the amounts an disclosures in the annual financial statements and the consolidated financial statements and the Management Report of the Company and the group is examined on a test basis within the framework of the audit. The audit includes assessing the accounting principles used and significant estimates made by management as well as evaluating the overall presentation of the annual financial statements and the consolidated financial statements and the Management Report of the Company and the group. We believe that our audit provides a reasonable basis for our opinion. Our audit has not led to any reservations. In our opinion, the annual financial statements and the consolidated financial statements applying accepted accounting standards give a true and fair view of the asset, financial and profit situation of the Company and the group. The Management Report provides a suitable understanding of the Company and the group and suitably presents the risks of future development. Braunschweig, 11 May 2004 Lang und Stolz KG Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft ppa. (Kisser) (Pethke) Certified Public Certified Public Accountant Accountant 60
Committees SUPERVISORY BOARD SUPERVISORY BOARD COMMITTEES Shareholders’ Representatives Henning Hansen-Hogrefe Chairman Farmer, Ingeleben Jürgen Seidel Deputy Chairman Enginee, Gronau (from 5 September, 2003) Lothar Wrede Deputy Chairman Farmer, Salzgitter-Thiede Gerhard Becker Farmer, Klein Bünstorf (until 5 September, 2003) Goetz von Engelbrechten Farmer, Molzen (from 5 September, 2003) Dietrich Hauschildt-Staff Farmer, Steinbrück Eberhard Herweg Farmer, Roklum Rainer Knackstedt Farmer, Dedeleben Hans-Christian Koehler Farmer, Barum Ernst von Lüneburg Farmer, Essenrode (until 5 September, 2003) Claus Lütje Farmer, Rade Hans-Heinrich Prüße Farmer, Ahlten Employees Representatives Gunold Fischer Deputy Chairman Chairman of the Lower Saxony/Bremen region of the German foodstuffs, beverages and gastronomy union (NGG) Eckhard Bosse Master craftsman, Leiferde Klaus Fentzahn Mechanic, Güstrow Gudrun Gebensleben Technical employee, Wolfenbüttel Rolf Huber-Frey Economist, Freiburg Gunther Kenk Secretary of the Mecklenburg-West Pommerania region of the German beverages and gastronomy union (NGG), Ihlenfeld Dieter Paschwitz Master craftsman, Hohenhameln Birgit Pitsch Secretary of the Lower Saxony/Bremen region of the German foodstuffs, beverages and gastronomy union (NGG), Hannover (until 4 January, 2004) Jochen Steinhagen Beet Management North, Uelzen Manfred Tessmann Secretary of the South-East Lower Saxony region of the German foodstuffs, beverages and gastronomy union (NGG), (from 4 January, 2004) Wolfgang Wiesener Mechanic, Uelzen Executive Committee Henning Hansen-Hogrefe Chairman Rainer Knackstedt Hans-Christian Koehler Hans-Heinrich Prüße Gunold Fischer Dieter Paschwitz Wolfgang Wiesener Auditing and Finance Committee Dietrich Hauschildt-Staff Chairman Hans-Heinrich Prüße Eckhard Bosse Employees Committee Henning Hansen-Hogrefe Chairman Lothar Wrede Dieter Paschwitz Wolfgang Wiesener Conciliation Committee Henning Hansen-Hogrefe Lothar Wrede Gunold Fischer Wolfgang Wiesener Nordzucker 2003/2004 61
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Annual Report 2003/2004 Nordzucker
Page 3 and 4:
The Group at a Glance 1997/1998 199
Page 5 and 6:
Wir machen mehr daraus Managing Boa
Page 7 and 8:
Schleswig plant. Good beet qualitie
Page 9 and 10:
In talks in recent months with poli
Page 11 and 12:
information furnished by the managi
Page 13 and 14: „Magyarország hamarosan érzéke
Page 15 and 16: capital into consideration for the
Page 17 and 18: particular for the Klein Wanzleben
Page 19 and 20: „Die EU-Erweiterung sehe ich sehr
Page 21 and 22: These were processed in the Warburg
Page 23 and 24: offered a job at one of the other N
Page 25 and 26: Fraunhofer Institut für Produktion
Page 27 and 28: local irrigation association holdin
Page 29 and 30: „Od członkowstwa w UE oczekuję
Page 31 and 32: The unfavourable situation in this
Page 33 and 34: „želám si, aby moje deti ako Eu
Page 35 and 36: 1 October 2003, the company, which
Page 37 and 38: throughout the group documents the
Page 39 and 40: For this reason alone we expect the
Page 41 and 42: Liabilities A. Equity Capital I. Su
Page 43 and 44: Accrued Write-downs Book value Depr
Page 45 and 46: IV. Statement of Cash Flows Net inc
Page 47 and 48: Liabilities A. Equity Capital I. Su
Page 49 and 50: Accrued Write-downs Book value Depr
Page 51 and 52: IV. Statement of Cash Flows Net con
Page 53 and 54: income and allocated to equity capi
Page 55 and 56: tive 34 of the income tax regulatio
Page 57 and 58: tion 308, para. 3 Commercial Code).
Page 59 and 60: Taxes on income mainly fall on the
Page 61 and 62: Achim Fölster Member of the adviso
Page 63: 9.3. Sundry Details Remuneration fo
Page 67 and 68: Heinrich Heimsoth Hassel Otto Henni
Page 69 and 70: Glossary Finance Cashflow Net inflo
Page 71: Contact Nordzucker AG Küchenstraß
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Nordzucker_GB 03-04_E_.pd 1 - Nordzucker AG

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