Consolidated Financial Statements - L. Possehl & Co. mbH

More documents

Recommendations

Info

4 Company Boards EXECUTIVE BOARD Uwe Lüders Lübeck, Chairman Dr Egon Rudolph Bad Schwartau since May 19, 2005 Dr Fred Wilsdorf Hamburg until March 31, 2006 SUPERVISORY BOARD Dr Helmuth Pfeifer Lübeck, Chairman Attorney and Notary Public Gerd Rischau Lübeck, Deputy Chairman Senator (ret.) Volker Fritz * Gutenberg Applications engineer * elected by employees Company Boards | Letter from the Advisory Council ADVISORY COUNCIL Dr Lutz Peters Hamburg, Chairman CEO of AOH Nahrungsmittel GmbH & Co. KG Dr Helmuth Pfeifer Lübeck, Deputy Chairman Attorney and Notary Public Dr Stephan Bartelt Lübeck Businessman Dr Manfred Biermann Lübeck Certifi ed Public Accountant Theo Dräger Lübeck Chairman of the Supervisory Board of Dräger Medical AG & Co. KG Gerd Rischau Lübeck, until April 25, 2005 Senator (ret.) Dr Werner Marnette Hollenstedt, since April 25, 2005 Chairman of the Executive Board of Norddeutsche Affi nerie AG Martin Salzmann Lübeck Entrepreneur
Dr Lutz Peters Letter from the Advisory Council LADIES AND GENTLEMEN, The Executive Board of L. Possehl & Co. mbH has kept the Advisory Council informed on a regular basis during fi scal year 2005 regarding the course of business, the earnings and fi nancial position of the company, investment activities and possible corporate acquisitions. The Advisory Council has advised the Executive Board and performed the duties incumbent upon it in its role as the corporate supervisory board. The Advisory Council has been comprehensively informed about important business transactions within the scope of the regular reporting procedures as well as outside of the advisory council meetings. A timely and detailed relaying of information regarding the progress of business as well as the economic position of the company and the individual Group companies was thereby assured. The chairman of the Advisory Council also remained in close contact with the Chairman of the Executive Board of the company. The Advisory Council convened for four ordinary and two extraordinary meetings in fi scal year 2005. During these meetings, the Advisory Council discussed in detail the company situation, the completed and pending corporate purchases and disposals, the consolidated fi nancial statements of the company and the corporate strategy. The Advisory Council reviewed all important individual business transactions and made decisions regarding any events brought forth that required its approval. Of particular signifi cance were the discussions and approvals regarding the acquisition of the company currently trading under the name of Harburg-Freudenberger Maschinenbau GmbH, the majority acquisition of Hako Holding GmbH & Co. KG and the acquisition of the remaining 19.9 % of shares in Possehl Electronics N.V. Detailed advice was also provided regarding the disposal of the 10 % share in Süd-Chemie AG and the management buy-out of Bewehrungstechnik Pätau-Possehl GmbH. The annual fi nancial statements and the consolidated fi nancial statements were prepared according to the principles of the German Commercial Code (HGB). BDO Deutsche Warentreuhand Aktiengesellschaft, Wirtschafts prüfungsgesellschaft, Hamburg, audited the individual and consolidated fi nancial statements of L. Possehl & Co. mbH, the management report and group management report and provided them each with an unqualifi ed auditors’ certifi cate. In its meeting of May 4, 2006, in the presence of the auditors, the Advisory Council provided detailed advice as to the auditors’ report as well as the main points and results of the audit. The Advisory Council agreed with the results of the audit without any objections. 5
Page 1 and 2: Annual Report 2005 HEALTHY GROWTH -
Page 3 and 4: One of our most critical strengths
Page 5 and 6: Table of Contents Letter from the E
Page 7: With sales of approximately € 350
Page 11 and 12: HEALTHY GROWTH - Profi table and Ro
Page 13 and 14: Continuing to develop - for the lon
Page 15 and 16: Mastering challenges - with strengt
Page 17 and 18: PRODUCTION BUSINESS SEGMENT The Pro
Page 19 and 20: company. It sells industrial raw ma
Page 21 and 22: Gross earnings improve by 36 % Gros
Page 23 and 24: Elastomer-Processing: Pleasing busi
Page 25 and 26: Possehl Inc. Group: American tradin
Page 27 and 28: Net assets: Balance sheet total inc
Page 29 and 30: RISK MANAGEMENT Based on a system o
Page 31 and 32: Shares in Süd-Chemie sold off At t
Page 33 and 34: Consolidated income statement in
Page 35 and 36: Consolidated balance sheet in €T
Page 37 and 38: Acquisition or manufacturing costs
Page 39 and 40: Other changes in equity 12/31/2004/
Page 41 and 42: In accordance with Article 312 Para
Page 43 and 44: 6. Depreciation Depreciation of pro
Page 45 and 46: 14. Property, plant and equipment i
Page 47 and 48: 19. Shareholders’ equity The desi
Page 49 and 50: 22. Liabilities in €T 1. Liabilit
Page 51 and 52: XI. NOTES TO THE SEGMENTAL REPORTIN
Page 53 and 54: Auditors’ report We have audited
Page 55 and 56: Shareholdings as of December 31, 20
Page 57 and 58: CONTACTS AND IMPRINT L. Possehl & C

Consolidated Financial Statements - L. Possehl & Co. mbH

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?