Comparison of Old/New Reporting Structure 2003
To ensure comparability with the previous year, the figures
for fiscal year 2003 were restated to reflect the new structure
(BSN medical GmbH & Co. KG at equity) in this report. In
the old reporting structure the Company was consolidated
on a pro-rata basis. The differences to the reporting in the
Annual Report 2003 are summarized in the comparison below.
Income Statement
| | |
(in € million) |
2003
Old structure |
2003
New structure |
Sales |
4,673 |
4,435 |
Cost of goods sold |
-1,698 |
-1,584 |
Gross profit |
2,975 |
2,851 |
Marketing and selling expenses |
-2,093 |
-2,025 |
Research and development expenses |
-100 |
-97 |
General and administrative expenses |
-251 |
-230 |
Other operating result |
-47 |
-44 |
Operating result (EBIT) |
484 |
455 |
Result from equity investments (BSN medical) |
- |
18 |
Interest and other financial income/expense (net) |
15 |
18 |
Financial result |
15 |
36 |
Profit before tax |
499 |
491 |
Taxes on income |
-198 |
-190 |
Profit after tax |
301 |
301 |
Minority interests |
-7 |
-7 |
Net profit |
294 |
294 | | | | | | | | |
 |
|
Exchanging knowledge and close cooperation are some of our strengths. |
Balance Sheet
| | |
Assets (in € million) |
Dec. 31, 2003
Old structure |
Dec. 31, 2003
New structure |
Intangible assets and property, plant, and equipment |
1,009 |
970 |
Equity investments (BSN medical) |
- |
72 |
Other financial assets |
22 |
22 |
Fixed assets |
1,031 |
1,064 |
Inventories |
672 |
629 |
Receivables and other assets |
782 |
744 |
Cash and cash equivalents |
842 |
828 |
Current assets |
2,296 |
2,201 |
Deferred tax assets |
28 |
23 |
Prepaid expenses |
23 |
22 |
|
3,378 |
3,310 | | | | | | | | | |
| | |
Shareholders’ Equity and Liabilities (in € million) |
Dec. 31, 2003
Old structure |
Dec. 31, 2003
New structure |
Shareholders’ equity |
1,831 |
1,831 |
Provisions for pensions and other employee benefits |
380 |
376 |
Other provisions |
479 |
463 |
Provisions |
859 |
839 |
Liabilities |
555 |
509 |
Deferred tax liabilities |
124 |
122 |
Deferred income |
9 |
9 |
|
3,378 |
3,310 | | | | | | | | | |
|
|
|