PDF, 3.2 MB - Pfleiderer AG

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Review of the Year 2004 February Pfleiderer AG sells its US concrete and steel towers business bundled in its affiliate Newmark International, Inc., and uses the income from the sale and book gains to strengthen its equity base. February Pfleiderer Engineered Wood presents its new brand wodego® for the first time to the visitors at the ZOW 2004 trade fair. The Thermopal® brand appears with a new corporate design. May Pfleiderer track systems starts delivery and assembly of sleepers using its ballastless RHEDA 2000® technology for the new construction of the Dutch high-speed link HSL-Zuid/NL running from Amsterdam towards Brussels. March Pfleiderer Unternehmensverwaltung reduces its holding in Pfleiderer AG from just on 62 percent to around 14 percent. The broad spread of shares among international and German investors considerably increases Pfleiderer’s free float. June Following an increase in capital by Pfleiderer Grajewo S.A., the Pfleiderer Group nets around 62 million euros in new equity. The Polish affiliate uses the income from the issue to expand its production plants in Poland and for construction of a new plant in Russia.
July Pfleiderer track systems wins the biggest single order in its history to supply 680,000 rail sleepers to Turkey, which is modernizing its Ankara – Eskischir rail link. May Pfleiderer Engineered Wood celebrates the laying of the foundation stone for construction of a new plant in Novgorod, Russia. The new plant is due to start production at the end of 2005. October/November Pfleiderer Engineered Wood takes over MDF production at the former HORNITEX site at Nidda and decides to build a new MDF/HDF plant in Poland. This will round off its product portfolio and further expand its market position in Europe. September Pfleiderer track systems presents its wide range of products and services at InnoTrans 2004. Its products and services range from engineering and production, supply and logistics to quality management – covering all phases of development, production and application. November/December Following the sale of the Business Unit Poles & Towers Europe, Pfleiderer AG reaches a further milestone towards focusing its corporate strengths on its Business Segments Engineered Wood and Infrastructure Technology.
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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
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Investor Relations Activities Indiv
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While the prices paid for paraffin
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TURKEY The Turkish economy reported
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Liabilities and Shareholders’ Equ
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Pfleiderer Consolidated Statement o
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Comprehensive income 69 Other compr
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Infrastructure Technology Consolida
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Scope of Consolidation The consolid
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The activities of the Poles & Tower
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Sales of receivables are treated wi
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Property, Plant and Equipment Prope
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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 and 112: 3. Pending litigation and claims 4.
Page 113 and 114: Geographical Information Sales Reve
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: Financial Calendar 2005 April 7, 20
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