PDF, 3.2 MB - Pfleiderer AG

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7. Personnel expenses 8. Relief in accordance with Section 264b HGB Total personnel expenses in the past business year amounted to 183,262 thousand euros (2003: 189,375 thousands euros). The breakdown of employees as of December 31, 2004 was as follows: ‘000 euros 2004 2003 Senior management 29 25 Junior management, clerical 1,377 1,349 Production, manual 3,023 3,013 Total 4,429 4,387 The following partnerships have applied the relief available under Section 264b HGB: Pfleiderer dritte Erwerbergesellschaft mbH & Co. Grundstücksverwaltungs KG Pfleiderer Holzwerkstoffe GmbH & Co. KG Pfleiderer Holzwerkstoffe Nidda GmbH & Co. KG Pfleiderer Infrastrukturtechnik GmbH & Co. KG Pfleiderer Dämmstofftechnik International GmbH & Co. KG Pfleiderer Leasing GmbH & Co. VIII. Segment Reporting For segment reporting purposes as defined by SFAS 131 (Disclosures about Segments of an Enterprise and Related Information), the Group is engaged in two Business Segments, Engineered Wood and Infrastructure Technology (see consolidated segment reporting preceding the notes to the consolidated financial statements). The Business Segment Engineered Wood produces raw particleboard and processed products. The Business Segment Infrastructure Technology mainly generates its revenues with products for track systems technology and the manufacture of concrete sleepers. The Poles & Towers Business Center, which was sold during the past business year, is no longer reported. Transactions between the segments are mainly carried out at market prices. 108
Geographical Information Sales Revenues by Region Sales revenues by region are as follows: Jan. 1 – Jan. 1 – ‘000 euros Dec. 31, 2004 Dec. 31, 2003 Germany 416,492 431,462 Other EU countries 348,595 215,920 Rest of Europe 98,707 181,471 Other countries 37,184 19,352 Total 900,978 848,205 Segment Assets by Region Property, plant and equipment by region are as follows: Jan. 1 – Jan. 1 – ‘000 euros Dec. 31, 2004 Dec. 31, 2003 Germany 196,852 201,615 Other EU countries 118,992 6,956 Rest of Europe 12,439 90,708 Total 328,283 299,279 IX. Earnings per Ordinary Share The following table shows the earnings per share: 2004 2003 Net earnings for the year after minority interests ‘000 euros 33,860 –45,762 Average number of outstanding shares number 42,685,000 42,678,146 Basic earnings per share euros 0.79 –1.07 Diluted earnings per share euros 0.79 –1.07 Earnings per share of continuing operations euros 0.13 0.10 Earnings per share of discontinued operations euros 0.66 –1.17 Stock options granted to members of the Board of Management and employees under SOP 2001 did not have a dilutive effect, and were therefore not included in the calculation of diluted earnings per share. Under SOP 2002, 105,862 shares have a dilutive effect. The minor dilutive effect did not result in any difference between diluted earnings per share and basic earnings per share. 109 FINANCIAL STATEMENTS/NOTES PFLEIDERER GROUP
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Annual Report 2004 Core Businesses
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Group Figures Jan. 1 - Jan. 1 - Cha
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Pfleiderer AG is focusing on its tw
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3 35 Pfleiderer Engineered Wood fur
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In closing down the Rheda-Wiedenbr
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Dr Jürgen Koch Member of the Board
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Committees Formed by the Supervisor
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CORPORATE GOVERNANCE 1. Introductio
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4. Supervisory Board The Board of M
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Declaration of Compliance 2004 Unde
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Stock Option Program 2004 (Continua
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PFLEIDERER GROUP AND PFLEIDERER AG
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Company Report Corporate portfolio
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In fiscal 2004, the Pfleiderer Grou
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Net indebtedness of the Pfleiderer
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GERMANY GDP in Germany increased by
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y expanding foreign and export rati
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Production Pfleiderer Engineered Wo
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Aside from its leading market prese
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Due to its very low construction he
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Procurement In order to take advant
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Research & Development New “Multi
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In September 2004, Pfleiderer appro
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Personnel As of December 31, 2004,
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Pfleiderer Corporate Guidelines for
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Economic and Political Risks and In
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No liquidity risk exists at present
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wodego® is the latest brand in Pfl
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Key Figures 2004 2003 No. of shares
Page 62 and 63: Investor Relations Activities Indiv
Page 64 and 65: While the prices paid for paraffin
Page 67 and 68: TURKEY The Turkish economy reported
Page 69 and 70: Liabilities and Shareholders’ Equ
Page 71 and 72: Pfleiderer Consolidated Statement o
Page 73 and 74: Comprehensive income 69 Other compr
Page 75 and 76: Infrastructure Technology Consolida
Page 77 and 78: Scope of Consolidation The consolid
Page 79 and 80: The activities of the Poles & Tower
Page 81 and 82: Sales of receivables are treated wi
Page 83 and 84: Property, Plant and Equipment Prope
Page 85 and 86: Accruals for Pensions and Similar O
Page 87 and 88: 1. Liquid funds 2. Securities class
Page 89 and 90: 7. Intangible assets As in the prev
Page 91 and 92: 11. Financial liabilities 12. Other
Page 93 and 94: 16. Long-term deferred income 17. D
Page 95 and 96: 18. Stockholders’ equity The foll
Page 97 and 98: Stock Appreciation Rights 2000 Unde
Page 99 and 100: 20. Derivative financial instrument
Page 101 and 102: Derivative financial instruments ar
Page 103 and 104: The following table reconciles the
Page 105 and 106: 22. Pensions and similar obligation
Page 107 and 108: The following table explains the ch
Page 109 and 110: 1. Contingent liabilities VII. Othe
Page 111: 3. Pending litigation and claims 4.
Page 115 and 116: 1. Leases 2. Valuation of inventori
Page 117 and 118: 8. Discontinued operations Under US
Page 119 and 120: Accumulated amortization/depreciati
Page 121 and 122: Pfleiderer track systems B.V. Deven
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Page 125 and 126: Pfleiderer AG Statement of Income 2
Page 127 and 128: Accumulated amortization/depreciati
Page 129 and 130: Hanno C. Fiedler Chairman of the ma
Page 131 and 132: Economic Glossary Asset deal Descri
Page 133 and 134: P Particleboard 30, 32, 34, 43, 54
Page 135 and 136: Income ratios Sales revenues 900,97
Page 137 and 138: Financial Calendar 2005 April 7, 20
Page 139 and 140: July Pfleiderer track systems wins
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