MIRA
INFORM REPORT
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Report Date : |
24.09.2012 |
IDENTIFICATION DETAILS
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Name : |
HEIDELBERGER DRUCKMASCHINEN AG |
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Registered Office : |
Kurfuersten-Anlage 52-60, |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Year of Establishment : |
1850 |
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Com. Reg. No.: |
330004 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
producer of solutions for the print media industry |
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No. of Employees : |
14,899 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Germany |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
germany - ECONOMIC OVERVIEW
The German economy - the fifth largest economy in the world in PPP terms
and Europe's largest - is a leading exporter of machinery, vehicles, chemicals,
and household equipment and benefits from a highly skilled labor force. Like
its Western European neighbors, Germany faces significant demographic
challenges to sustained long-term growth. Low fertility rates and declining net
immigration are increasing pressure on the country's social welfare system and
necessitate structural reforms. Reforms launched by the government of
Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address
chronically high unemployment and low average growth, contributed to strong
growth in 2006 and 2007 and falling unemployment. These advances, as well as a
government subsidized, reduced working hour scheme, help explain the relatively
modest increase in unemployment during the 2008-09 recession - the deepest
since World War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in
2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable
primarily to rebounding manufacturing orders and exports - increasingly outside
the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012,
a reflection of the worsening euro-zone financial crisis and the financial
burden it places on Germany as well as falling demand for German exports.
Domestic demand is therefore becoming a more significant driver of Germany's
economic expansion. Stimulus and stabilization efforts initiated in 2008 and
2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased
Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax
revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A
constitutional amendment approved in 2009 limits the federal government to
structural deficits of no more than 0.35% of GDP per annum as of 2016.
Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel
announced in May 2011 that eight of the country's 17 nuclear reactors would be
shut down immediately and the remaining plants would close by 2022. Germany
hopes to replace nuclear power with renewable energy. Before the shutdown of
the eight reactors, Germany relied on nuclear power for 23% of its energy and
46% of its base-load electrical production.
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Source : CIA |
Company name & address
Heidelberger Druckmaschinen AG
Kurfuersten-Anlage 52-60
Heidelberg, 69115
Germany
Tel: 49-6221-9200
Fax: 49-6221-926999
Web: www.heidelberg.com
synthesis
Employees: 14,899
Company Type: Public Parent
Corporate Family: 88
Companies
Traded:
XETRA: HDD
Incorporation Date: 1850
Auditor: PricewaterhouseCoopers AG
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2012
Reporting Currency: Euro
Annual Sales: 3,740.0 1
Net Income: (314.4)
Total Assets: 3,342.0 2
Market Value: 298.6 (07-Sep-2012)
Business Description
Heidelberger Druckmaschinen AG is a German producer of solutions for the
print media industry. The Company divides its activities into the three
business segments Heidelberg Equipment, Heidelberg Services as well as
Heidelberg Financial Services. Its product portfolio includes the prepress area
with the Suprasetter product family; the press area, which comprises
Speedmaster product families, that are used for classical offset printing, as
well as for special applications, such as ultraviolet (UV) printing; as well as
the postpress area, that includes cutters, folders, saddle stitchers, adhesive
binders, die-cutting products, folding carton gluing machines and label
systems. The Company also offers a range of spare parts and used equipment, as
well as training programs and its own printing process automation software,
Prinect. As of December 31, 2011, the Company operated three domestic
subsidiaries and a number of foreign subsidiaries in Europe, Africa, Asia and
Brazil, among others. For the three months ended 30 June 2012, Heidelberger
Druckmaschinen AG revenues decreased 6% to EUR542.9M. Net loss increased 60% to
EUR73.7M. Revenues reflect Heidelberg Equipment segment decrease of 15% to
EUR255.2M, Heidelberg Financial Services segment decrease of 1% to EUR3.4M,
Other Europe/Middle East/Africa segment decrease of 23% to EUR101.2M, China
segment decrease of 12% to EUR83.4M.
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 2469 - Other
Specialised Machinery and Equipment Manufacturing
NACE 2002: 2956 - Manufacture
of other special purpose machinery not elsewhere classified
NAICS 2002: 333293 - Printing
Machinery and Equipment Manufacturing
UK SIC 2003: 2956 - Manufacture
of other special purpose machinery not elsewhere classified
UK SIC 2007: 2899 - Manufacture
of other special-purpose machinery n.e.c.
US SIC 1987: 3555 - Printing
Trades Machinery and Equipment
Key Executives
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Name |
Title |
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Gerold Linzbach |
Chief Executive Officer |
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Dirk Kaliebe |
Member of the Management Board, Chief Financial Officer |
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Edwin Eichler |
Member of the Supervisory Board |
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Robin Karpp |
Head of Investor Relations |
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Bernhard Schreier |
Chairman-Management Board & CEO |
Significant Developments
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* number of significant developments within the last 12 months
News
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Financial Summary
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Stock Snapshot
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Registered No.(DEU): 330004
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7269425
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7534632
Corporate Overview
Location
Kurfuersten-Anlage 52-60
Heidelberg, 69115
Germany
Tel: 49-6221-9200
Fax: 49-6221-926999
Web: www.heidelberg.com
Quote Symbol - Exchange
HDD - XETRA
Sales EUR(mil): 2,718.8
Assets EUR(mil): 2,518.1
Employees: 14,899
Fiscal Year End: 31-Mar-2012
Industry: Miscellaneous Capital Goods
Incorporation Date: 1850
Company Type: Public Parent
Quoted Status: Quoted
Registered No.(DEU): 330004
Chief Executive Officer: Gerold
Linzbach
Company Web Links
Company Contact/E-mail
Corporate History/Profile
Employment Opportunities
Executives
Financial Information
Home Page
Investor Relations
News Releases
Products/Services
Contents
Industry Codes
Business Description
Brand/Trade Names
Financial Data
Market Data
Shareholders
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2469 - Other Specialised Machinery and Equipment Manufacturing
9429 - Other Machinery and Equipment Repair and Maintenance
5420 - Software Publishing
6639 - Other Goods and Equipment Rental and Hiring Not Elsewhere
Classified
NACE 2002 Codes:
2956 - Manufacture of other special purpose machinery not
elsewhere classified
7221 - Publishing of software
7134 - Renting of other machinery and equipment not elsewhere
classified
5274 - Repair not elsewhere classified
NAICS 2002 Codes:
333293 - Printing Machinery and Equipment Manufacturing
811310 - Commercial and Industrial Machinery and Equipment (except
Automotive and Electronic) Repair and Maintenance
532490 - Other Commercial and Industrial Machinery and Equipment
Rental and Leasing
511210 - Software Publishers
US SIC 1987:
3555 - Printing Trades Machinery and Equipment
7699 - Repair Shops and Related Services, Not Elsewhere Classified
7372 - Prepackaged Software
7359 - Equipment Rental and Leasing, Not Elsewhere Classified
UK SIC 2003:
2956 - Manufacture of other special purpose machinery not
elsewhere classified
7134 - Renting of other machinery and equipment not elsewhere classified
7221 - Publishing of software
5274 - Repair not elsewhere classified
UK SIC 2007:
2899 - Manufacture of other special-purpose machinery n.e.c.
9529 - Repair of other personal and household goods
5829 - Other software publishing
7739 - Renting and leasing of other machinery, equipment and
tangible goods n.e.c.
Business
Description
Heidelberger
Druckmaschinen AG is a German producer of solutions for the print media
industry. The Company divides its activities into the three business segments Heidelberg
Equipment, Heidelberg Services as well as Heidelberg Financial Services. Its
product portfolio includes the prepress area with the Suprasetter product
family; the press area, which comprises Speedmaster product families, that are
used for classical offset printing, as well as for special applications, such
as ultraviolet (UV) printing; as well as the postpress area, that includes
cutters, folders, saddle stitchers, adhesive binders, die-cutting products,
folding carton gluing machines and label systems. The Company also offers a
range of spare parts and used equipment, as well as training programs and its
own printing process automation software, Prinect. As of December 31, 2011, the
Company operated three domestic subsidiaries and a number of foreign
subsidiaries in Europe, Africa, Asia and Brazil, among others. For the three
months ended 30 June 2012, Heidelberger Druckmaschinen AG revenues decreased 6%
to EUR542.9M. Net loss increased 60% to EUR73.7M. Revenues reflect Heidelberg
Equipment segment decrease of 15% to EUR255.2M, Heidelberg Financial Services
segment decrease of 1% to EUR3.4M, Other Europe/Middle East/Africa segment
decrease of 23% to EUR101.2M, China segment decrease of 12% to EUR83.4M.
More Business Descriptions
Production and
sale of offset printing presses and other machinery. Heidelberg develops and
produces precision printing presses, units for imaging printing plates,
postpress equipment, and software for integrating all the print shop processes.
It also provides general and consulting services ranging from spare parts and
consumables to the sale of remarketed equipment, and training at the Print
Media Academy.
Printing Machinery Mfr
Heidelberger
Druckmaschinen AG is primarily engaged in manufacture of machinery for working
soft rubber or plastics or for the manufacture of products of these materials
(extruders, moulders, pneumatic tyre making or retreading machines and other
machines for making a specific rubber or plastic product); manufacture of
printing and bookbinding machines; manufacture of machinery for producing
tiles, bricks, shaped ceramic pastes, pipes, graphite electrodes, blackboard
chalk, foundry moulds, etc.; manufacture of moulding boxes for any material;
mould bases; moulding patterns; moulds; manufacture of dryers for wood, paper
pulp, paper or paperboard; manufacture of centrifugal clothes dryers;
manufacture of diverse special machinery and equipment (machines to assemble
electric or electronic lamps, tubes (valves) or bulbs; machines for production
or hot-working of glass or glassware, glass fibre or yarn; machinery or
apparatus for isotopic separation; rope-making machinery, etc.); and
manufacture of industrial robots for multiple uses.
Our remarketed
equipment offers you the best alternative to a brand new Heidelberg. Remarketed
equipment from Heidelberg represents outstanding quality and cost efficiency.
Proven quality ensures that even in the second stage of its life Heidelberg
equipment retains its exceptional value and reliability. You also have access to
the Heidelberg service network. This includes on-site assembly replacement
parts and consumables and round-the-clock advice and support.
Heidelberger
Druckmaschinen AG (Heidelberger) is a Germany-based solutions provider for the
print media industry. It primarily focuses on the entire process and value
chain across for the 35 x 50 cm (13.78 x 19.69 in) to 121 x 162 cm (47.64 x
63.78 in) format classes in the sheetfed offset and flexographic printing
sectors. The company develops and produces precision printing presses,
postpress equipment, platesetters and software that integrate all the printshop
processes. The company operates in about 170 countries through 27 wholly-owned
subsidiaries, and about 250 support centers located across the globe supporting
about 200,000 customers worldwide. Heidelberger offers its products under three
divisions, namely, Press, Postpress and Financial Services. The Press division
is the company’s core business area and comprises all the components,
products and solutions for prepress as well as sheetfed offset, packaging, and
flexo printing. The prepress category comprises computer-to-plate systems that
offer premium quality printing plates across all format classes. It caters to
the needs of smaller print runs, larger print orders as well as complex
individual orders. Its Suprasetter product family offers thermal plates, while
Prosetter product family offers violet plates. These product families cater to
the sheetfed offset sector with integrated die-cutting systems. The Press
category offers sheetfed offset, flexo printing and web offset solutions under
Printmaster and Speedmaster product families. These products are used in
classical offset printing and in special applications, including ultraviolet
(UV) printing. Sheetfed offset comprises Speedmaster 35x50 format, 50x70
format, 70x100 format, 106x145 format and 121x162 format. Flexo printing
includes label printing and folding carton printing while web offset includes
Goss products. During the fiscal year ended March 2010, the Press division
accounted for 89.3% of the company’s total revenue. The Postpress division
includes solutions for folding, die-cutting, saddlestitching, folder gluing,
adhesive binding/thread-sealing and cutting. Folding products include
stahlfolder and baumfolder. Die-cutting products include Varimatrix and
Dymatrix product families while foldergluing include Easygluer and Diana
product families. For the fiscal year ended March 2010, the Postpress division
generated 9.9% of the company’s total revenue. The Financial Services
division includes sales financing, especially for medium-sized firms. For the
fiscal year ended March 2010, the Financial Services division accounted for
0.8% of the company’s total revenue. In fiscal year 2011, effective April 01,
2010, the company has realigned its operations into three new segments, namely,
Heidelberg Equipment, Heidelberg Services, and Heidelberg Financial Services to
better represent its operations.The company also offers services such as
Heidelberg Systemservice, which include Heidelberg partner program, service
programs, remote services, and original Heidelberg service parts. Through its
Print Media Academy, it offers trainings and seminars, professional training
and communication. Its business consulting activities comprise consulting,
business optimization and print shop management. The company also offers
consumables for Prepress, Press, and Postpress such as plates, inks, coats, and
stitching wire as well as sale of remarketed equipment. The company has development
and production sites in seven countries. The production sites are located in
Amstetten, Brandenburg, Kiel, Langgons-Oberkleen, Leipzig, Ludwigsburg,
Monchengladbach, Wiesloch-Walldorf, Quingpu (China), Nove Mesto (Slovakia), St.
Gallen (Switzerland), Bucks (the UK ), Zwaag (the Netherlands) and Sidney
(Ohio, the US). The company manufactures all Heidelberg presses at its
Wiesloch-Walldorf site, for the world market. The company manufactures its
standardized presses in all standard format classes and folding machines for
the Chinese market in Qingpu near Shanghai. Geographically, the company
categorizes its operations under fiver regions, namely, Europe, Middle East and
Africa (EMEA); Eastern Europe; North America; Latin America and Asia/Pacific regions.
For the fiscal year ended March 2010, Heidelberger generated about 40.3% of its
total revenue from the EMEA region, followed by Eastern Europe (10.5%), North
America (10.3%), Latin America (6.4%) and Asia/Pacific generated (32.5%).
Heidelberger Druckmaschinen
AG (Heidelberger) produces solutions for the print media industry. It offers
products for various stages of the print process. The company offers these
products under three divisions, namely, Press, Postpress and Financial
Services. Its principal product offerings include the product families of
Suprasetter, Prosetter, Printmaster and Speedmaster, varimatrix, dymatrix,
easygluer and Diana. In addition, Heidelberger offers a variety of spare parts
and used equipment, besides training programs and Prinect, its own printing
process automation software. The company has operations in about 170 countries
through 27 wholly-owned subsidiaries. It also operates about 250 support
centers across the world. Heidelberger is headquartered in Heidelberg, Germany.The
company reported revenues of (Euro) EUR 2,718.75 million during the fiscal year
ended March 2012, a decrease of 1.69% from 2011. The operating loss of the
company was EUR 139.76 million during the fiscal year 2012, as against an
operating income of EUR 6.16 million during 2011. The net loss of the company
was EUR 228.54 million during the fiscal year 2012, as compared to a net loss
of EUR 128.89 million during 2011.
Heidelberg
(Germany) is the world's leading solution provider of the print media industry,
manufacturing sheetfed, digital and web press systems as well as prepress and
postpress components, software and consumables for all printing applications.
Heidelberg has the largest manufacturing and support network in the industry
with 20 manufacturing sites and 250 support centres worldwide. The company
generates 85% of its sales through its own sales companies and 87% of its sales
abroad.
Printing Equipment
Brand/Trade Names
Heidelberg
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Corporate
Family |
Corporate
Structure News: |
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Heidelberger
Druckmaschinen AG |
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Heidelberger Druckmaschinen AG |
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Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Heidelberg |
Germany |
Miscellaneous Capital Goods |
3,740.0 |
14,899 |
|
|
Subsidiary |
Kennesaw, GA |
United States |
Miscellaneous Capital Goods |
3,750.0 |
1,000 |
|
|
Branch |
Buffalo Grove, IL |
United States |
Miscellaneous Capital Goods |
32.6 |
60 |
|
|
Branch |
Budd Lake, NJ |
United States |
Miscellaneous Capital Goods |
3.8 |
7 |
|
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Branch |
Cranbury, NJ |
United States |
Miscellaneous Capital Goods |
3.3 |
6 |
|
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Branch |
Minneapolis, MN |
United States |
Miscellaneous Capital Goods |
1.6 |
3 |
|
|
Subsidiary |
Heidelberg, Baden-WĂ¼rttemberg |
Germany |
Miscellaneous Capital Goods |
288.0 |
1,000 |
|
|
Heidelberger Druckmaschinen
Vertrieb Deutschland Gesellschaft mit beschränkter Haftung |
Subsidiary |
Heidelberg, Baden-WĂ¼rttemberg |
Germany |
Miscellaneous Capital Goods |
1,081.4 |
901 |
|
Subsidiary |
Ludwigsburg |
Germany |
Paper and Paper Products |
|
550 |
|
|
Subsidiary |
Sidney, OH |
United States |
Miscellaneous Capital Goods |
25.0 |
135 |
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Capital Goods |
155.0 |
344 |
|
|
Subsidiary |
Brentford |
United Kingdom |
Construction Services |
181.6 |
340 |
|
|
Subsidiary |
Brentford |
United Kingdom |
Business Services |
0.3 |
2 |
|
|
Subsidiary |
Brentford |
United Kingdom |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Brentford |
United Kingdom |
Rental and Leasing |
|
|
|
|
Subsidiary |
Tremblay en France |
France |
Miscellaneous Capital Goods |
141.1 |
293 |
|
|
Subsidiary |
Sao Paulo, Sao Paulo |
Brazil |
Miscellaneous Capital Goods |
30.9 |
200 |
|
|
Subsidiary |
Notting Hill, VIC |
Australia |
Miscellaneous Capital Goods |
79.3 |
199 |
|
|
Subsidiary |
Auckland |
New Zealand |
Miscellaneous Capital Goods |
|
40 |
|
|
Subsidiary |
Mount Wellington |
New Zealand |
Miscellaneous Capital Goods |
141.6 |
30 |
|
|
Subsidiary |
Beijing |
China |
Miscellaneous Capital Goods |
200.9 |
169 |
|
|
Subsidiary |
Bern |
Switzerland |
Computer Hardware |
|
160 |
|
|
Subsidiary |
Warszawa |
Poland |
Miscellaneous Capital Goods |
|
124 |
|
|
Subsidiary |
Mississauga, ON |
Canada |
Miscellaneous Capital Goods |
109.5 |
120 |
|
|
Subsidiary |
Wien |
Austria |
Miscellaneous Capital Goods |
72.9 |
108 |
|
|
Subsidiary |
Buenos Aires, Buenos Aires |
Argentina |
Food Processing |
14.0 |
100 |
|
|
Subsidiary |
Surabaya |
Indonesia |
Miscellaneous Capital Goods |
13.0 |
100 |
|
|
Subsidiary |
Bang Rak, Bangkok |
Thailand |
Miscellaneous Capital Goods |
|
93 |
|
|
Subsidiary |
Marlboro |
South Africa |
Miscellaneous Capital Goods |
27.2 |
82 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Miscellaneous Capital Goods |
21.0 |
81 |
|
|
Subsidiary |
Wiesloch, Baden-WĂ¼rttemberg |
Germany |
Restaurants |
|
80 |
|
|
Subsidiary |
Praha |
Czech Republic |
Miscellaneous Capital Goods |
26.7 |
76 |
|
|
Subsidiary |
Istanbul (Europe) |
Turkey |
Miscellaneous Capital Goods |
|
71 |
|
|
Subsidiary |
Shanghai |
China |
Computer Hardware |
|
70 |
|
|
Subsidiary |
Hvidovre |
Denmark |
Miscellaneous Capital Goods |
42.5 |
65 |
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Capital Goods |
|
65 |
|
|
Subsidiary |
Eggenstein-Leopoldshafen, Baden-WĂ¼rttemberg |
Germany |
Office Equipment |
|
60 |
|
|
Subsidiary |
Singapore |
Singapore |
Printing Services |
|
60 |
|
|
Subsidiary |
Gelang Patah, Johor |
Malaysia |
Retail (Specialty) |
23.7 |
|
|
|
Subsidiary |
Makati |
Philippines |
Miscellaneous Capital Goods |
6.9 |
50 |
|
|
Subsidiary |
New Taipei City |
Taiwan |
Miscellaneous Capital Goods |
|
50 |
|
|
Subsidiary |
Limhamn |
Sweden |
Miscellaneous Capital Goods |
27.4 |
49 |
|
|
Subsidiary |
Bogota, Bogota |
Colombia |
Miscellaneous Capital Goods |
0.0 |
38 |
|
|
Heidelberg Magyarorszag
Kereskedelmi Korlatolt Felelossegu Tarsasag |
Subsidiary |
Budakalasz |
Hungary |
Miscellaneous Capital Goods |
21.9 |
33 |
|
Subsidiary |
Vantaa |
Finland |
Miscellaneous Capital Goods |
17.9 |
28 |
|
|
Subsidiary |
Vienna |
Austria |
Miscellaneous Capital Goods |
49.3 |
25 |
|
|
Subsidiary |
Zwaag, Noord-Holland |
Netherlands |
Chemical Manufacturing |
|
25 |
|
|
Subsidiary |
Lima |
Peru |
Miscellaneous Capital Goods |
8.0 |
24 |
|
|
Subsidiary |
Waiblingen, Baden-WĂ¼rttemberg |
Germany |
Miscellaneous Capital Goods |
|
18 |
|
|
Subsidiary |
Bucuresti |
Romania |
Miscellaneous Capital Goods |
2.4 |
14 |
|
|
Subsidiary |
Aylesbury |
United Kingdom |
Chemical Manufacturing |
|
10 |
|
|
Subsidiary |
Aylesbury |
United Kingdom |
Chemical Manufacturing |
13.1 |
9 |
|
|
Subsidiary |
Heidelberg |
Germany |
Computer Hardware |
64.0 |
7 |
|
|
Subsidiary |
Portsmouth, NH |
United States |
Computer Hardware |
|
3 |
|
|
Subsidiary |
Pullach I. Isartal, Bayern |
Germany |
Real Estate Operations |
|
2 |
|
|
Subsidiary |
Petaling Jaya, Selangor |
Malaysia |
Miscellaneous Capital Goods |
34.1 |
|
|
|
Subsidiary |
Chennai, Tamil Nadu |
India |
Miscellaneous Capital Goods |
10.5 |
|
|
|
Subsidiary |
Leipzig |
Germany |
Miscellaneous Capital Goods |
1.0 |
|
|
|
Subsidiary |
Bratislava |
Slovakia |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Taipei |
Taiwan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Nicosia |
Cyprus |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Zagreb |
Croatia |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Vilnius |
Lithuania |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Riga |
Latvia |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Ljubljana |
Slovenia |
Printing Services |
|
|
|
|
Subsidiary |
Tashkent |
Uzbekistan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Kyiv |
Ukraine |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Moscow |
Russian Federation |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Auckland |
New Zealand |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Mexico |
Mexico |
Printing Services |
|
|
|
|
Branch |
Mexico City, Distrito Federal |
Mexico |
Business Services |
0.5 |
25 |
|
|
Subsidiary |
Kabul |
Afghanistan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Hamburg |
Germany |
Computer Hardware |
|
|
|
|
Subsidiary |
Nairobi |
Kenya |
Printing Services |
|
|
|
|
Subsidiary |
Tallinn |
Estonia |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Almaty |
Kazakhstan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Belgrad |
Serbia |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Accra |
Ghana |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Lagos |
Nigeria |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Moscow |
Russian Federation |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Boxmeer, Noord-Brabant |
Netherlands |
Miscellaneous Financial Services |
|
|
|
|
Subsidiary |
Dubai |
United Arab Emirates |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Sofia |
Bulgaria |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Quito |
Ecuador |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Beirut |
Lebanon |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Sao Paulo |
Brazil |
Computer Hardware |
|
|
|
|
Heidelberg Boxmeer B.V. |
Subsidiary |
|
|
|
|
|
|
Subsidiary |
Hung Hom, Kowloon |
Hong Kong |
Miscellaneous Capital Goods |
|
96 |
Competitors Report
|
Company Name |
Location |
Employees |
Ownership |
|
Baldwin Technology Company, Inc. |
Boca Raton, Florida, United States |
512 |
Private |
|
Goss Graphic Systems Ltd. |
Preston, United Kingdom |
123 |
Private |
|
Koenig & Bauer AG |
Wuerzburg, Germany |
6,252 |
Public |
|
Presstek, Inc. |
Greenwich, Connecticut, United States |
384 |
Public |
|
RYOBI LIMITED |
Fuchu-Shi, Japan |
7,098 |
Public |
|
Xerox Corporation |
Norwalk, Connecticut, United States |
139,100 |
Public |
executive report
|
Board of
Directors |
|
|
|
|
||||||||||||
|
Chairman of the Supervisory Board |
Chairman |
|
||||||||||||
|
|||||||||||||||
|
Chairman-Management Board & CEO |
Chairman |
|
|
|||||||||||
|
|||||||||||||||
|
Chairman Of The Supervisory Board |
Chairman |
|
|
|||||||||||
|
|||||||||||||||
|
Deputy Chairman of the Supervisory Board, Employee Representative |
Vice-Chairman |
|
|
|||||||||||
|
|||||||||||||||
|
Director |
Director/Board Member |
|
|
|||||||||||
|
Executives |
|
|
|
|
||||||||||||
|
Chief Executive Officer |
Chief Executive Officer |
|
||||||||||||
|
Chairman-Management Board & CEO |
Chief Executive Officer |
|
||||||||||||
|
|||||||||||||||
|
Leiterin-Umwelt |
Environment/Safety Executive |
|
|
|||||||||||
|
Member of the Supervisory Board |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Member of the Supervisory Board, Employee Representative |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Member of the Supervisory Board, Employee Representative |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Member of the Supervisory Board, Employee Representative |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Member of the Supervisory Board, Employee Representative |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Member of the Supervisory Board, Employee Representative |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Member of the Supervisory Board |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Member of the Management Board, Chief Financial Officer |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Member of the Management Board |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Member of the Supervisory Board |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Member of the Management Board |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Member of the Supervisory Board |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Member of the Supervisory Board, Employee
Representative |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Member of the Supervisory Board |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Member of the Supervisory Board |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Member of the Supervisory Board |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Member of the Supervisory Board, Employee
Representative |
Administration Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Leiter-Investor Relations |
Investment Executive |
|
|
|||||||||||
|
New Head Of Personnel |
Human Resources Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Head Of Personnel |
Human Resources Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Leiter-Vertrieb |
Sales Executive |
|
|
|||||||||||
|
Senior Vice President - Service -
Marketing & Sales |
Sales Executive |
|
|
|||||||||||
|
Senior VP-Marketing &
Communications-Global |
International Executive |
|
|
|||||||||||
|
Vice President-E-Marketing |
E-Commerce Executive |
|
|
|||||||||||
|
Senior Vice
President-Unternehmenskommunikation & Marketing |
Marketing Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Leiter-Presse |
Public Relations Executive |
|
|
|||||||||||
|
Leiter-EDV |
Information Executive |
|
|
|||||||||||
|
Leiter-Strategische Planung |
Planning Executive |
|
|
|||||||||||
|
Head Of Production |
Manufacturing Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Manager Of The Amstetten Site |
Other |
|
|
|||||||||||
|
|||||||||||||||
|
New Head |
Other |
|
|
|||||||||||
|
|||||||||||||||
|
Head of Investor Relations |
Other |
|
|
|||||||||||
|
Senior Vice President - Digital |
Other |
|
|
|||||||||||
|
Senior Vice President - Sheetfed |
Other |
|
|
|||||||||||
Significant Developments
Heidelberger Druckmaschinen AG Confirms FY 2012 Guidance; Confirms FY 2012 Guidance Aug 08, 2012
Heidelberger Druckmaschinen AG announced that its outlook for the fiscal year 2012 and the fiscal year 2013 are unchanged. The Company expects for the fiscal year 2012 unaffected positive operating.
Heidelberger Druckmaschinen AG Announces Retirement of Chief Executive Officer; Appoints New Chief Executive Officer Jul 19, 2012
Heidelberger Druckmaschinen AG announced that Mr. Bernhard Schreier, Chief Executive Officer of the Company, will not be extending his management contract when it expires midyear 2013 and will be leaving the Company at the end of 2012. The Supervisory Board unanimously appointed Mr. Gerold Linzbach new Chief Executive Officer with effect from September 1, 2012
Heidelberger Druckmaschinen AG to Cut Jobs Worldwide; Most Job Cuts in Germany to be Achieved through Voluntary Redundancies Mar 30, 2012
Heidelberger Druckmaschinen AG announced that the Management Board and Workers' Council of the Company have reached an agreement regarding the implementation of the 'FOCUS 2012' efficiency program. The consensus reached provides for savings on personnel costs, more flexible working time arrangements, and worldwide job cuts through socially acceptable measures that will result in a headcount of below 14,000 by mid-2014. Most of the job cuts in Germany will be achieved by mid-2014 through voluntary redundancies, including options for older staff. Shortening the working week to 31.5 hours for all staff and reducing remuneration levels accordingly will put in place a long-term, collectively agreed arrangement that will lower personnel costs and immediately cut capacities at the German production sites by 15%.
Heidelberger Druckmaschinen AG Issues FY 2013/2014 EBIT Before Special Items Guidance Above Analysts' Estimates; Comments on FY 2011/2012 EBIT Before Special Items Outlook Feb 08, 2012
Heidelberger Druckmaschinen AG announced that for the fiscal year 2013/2014 it expects to achieve the targeted EBIT before special items of approximately EUR 150 million. The Company also announced that it expects fiscal year 2011/2012 EBIT before special items to improve in comparison to fiscal year 2010/2011. For the fiscal year 2010/2011 the Company reported EBIT of EUR 8.39 million. According to I/B/E/S estimates, analysts on average are expecting the Company to report fiscal year 2011/2012 negative EBIT of EUR 42.26 million and fiscal year 2013/2014 positive EBIT of EUR 121.76 million.
Heidelberger Druckmaschinen AG Issues FY 2013/2014 Guidance; to Cut Jobs Jan 17, 2012
Heidelberger Druckmaschinen AG announced that it expects to deliver operating result of approximately EUR 150 million in fiscal year 2013/2014. The Company is still planning to achieve a noticeably better operating result excluding special items for financial year 2011/2012 as a whole than in the previous fiscal year 2010/2011. According to I/B/E/S estimates, analysts on average are expecting the Company to report fiscal year 2011/2012 revenue of EUR 2,647.00 million, the revenue of EUR 2,761.35 million for the fiscal year 2013/2014 and the revenue of EUR 2,628.92 million for the fiscal year 2010/2011. The Company introduces 'FOCUS 2012' efficiency program which includes a number of medium- to long-term measures aimed at adapting the entire organization to the changed structures. The target is to achieve total sustainable savings of approximately EUR 180 million in financial year 2013/14. The short- and medium-term measures will be affecting the production and service capacities, research and development as well as sales and structure costs, which each are to be adjusted to the modified basic conditions, and thus shall be reduced. The Company thus plans to cut 2,000 jobs worldwide. Based on current plans, around 1,200 production, development, administrative, sales, and marketing jobs in Germany and around 800 jobs outside Germany will go.
Heidelberger Druckmaschinen AG Comments On H2 2011/12 Guidance Oct 24, 2011
Heidelberger Druckmaschinen AG announced that demand for the second half of fiscal 2011/12 will be lower than expected, that sales and the operating result will not reach the level the Company has been aiming for and thus that the target of a break even pre tax result is unlikely to be achieved. The Company expects that the operating result for fiscal 2011/12 to be noticeably better than that of the fiscal 2010/11. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of EUR699 million for the third quarter of 2012 and EUR680 for the fourth quarter of 2012.
Inapa Investimentos Participacoes e Gestao SA Announces Partnership with Heidelberger Druckmaschinen AG Oct 21, 2011
Inapa Investimentos Participacoes e Gestao SA announced that it has signed a strategic partnership agreement with Heidelberger Druckmaschinen AG (Heidelberg), a German producer of graphical equipment, to distribute graphical consumables already traded by Heidelberg under the brand Saphira. As a first step for the implementation of the referred strategic partnership, on October 17, 2011 the subsidiaries of both companies - Saphira Handelsgesellschaft mbH (Heidelberg) and Papier Union GmbH (Inapa) - have signed a distribution contract, agreeing that Papier Union will sell Saphira brand products across the German market.
Annual profit & loss
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.726943 |
0.757168 |
0.70861 |
|
Consolidated |
Yes |
Yes |
Yes |
|
|
|
|
|
|
Total income |
3,570.7 |
3,472.0 |
3,254.8 |
|
Raw materials and services |
1,529.7 |
1,468.4 |
1,316.1 |
|
Net sales |
3,570.7 |
3,472.0 |
3,254.8 |
|
Change in stock |
21.9 |
-60.2 |
-201.3 |
|
Own work capitalised |
14.7 |
19.5 |
20.7 |
|
Other operating income |
169.3 |
180.2 |
219.5 |
|
Raw materials and consumables employed |
1,529.7 |
1,468.4 |
1,316.1 |
|
Other external charges |
164.7 |
161.5 |
139.4 |
|
Cost of goods sold |
1,694.4 |
1,629.8 |
1,455.5 |
|
Cost of raw materials |
1,694.4 |
1,629.8 |
1,455.5 |
|
Taxes and social security costs |
195.7 |
183.6 |
200.5 |
|
Total payroll costs |
1,244.3 |
1,152.6 |
1,152.4 |
|
Fixed asset depreciation and amortisation |
119.7 |
131.5 |
148.7 |
|
Other operating costs |
1,820.8 |
1,378.9 |
1,521.9 |
|
Net operating income |
-192.3 |
8.1 |
-223.8 |
|
Other income |
20.6 |
18.5 |
19.5 |
|
Interest payable on loans |
146.5 |
223.8 |
187.9 |
|
Total expenses |
123.2 |
196.8 |
179.9 |
|
Profit before tax |
-315.5 |
-188.7 |
-403.7 |
|
Provisions |
1,283.5 |
1,085.0 |
1,341.5 |
|
Total taxation |
1.1 |
-18.5 |
-81.2 |
|
Net loss |
-316.5 |
-170.2 |
-322.5 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.753463 |
0.704672 |
0.739044 |
|
Consolidated |
Yes |
Yes |
Yes |
|
|
|
|
|
|
Issued capital |
795.4 |
846.2 |
269.0 |
|
Capital reserves |
36.0 |
39.3 |
25.7 |
|
Total reserves |
725.8 |
953.2 |
1,233.7 |
|
Profits for the year |
-305.4 |
-182.9 |
-309.2 |
|
Total stockholders equity |
764.1 |
1,232.6 |
783.4 |
|
Deferred taxation |
156.5 |
289.0 |
326.8 |
|
Other provisions |
649.0 |
554.3 |
637.4 |
|
Provision for pensions |
432.8 |
313.6 |
305.0 |
|
Provisions and allowances |
1,238.3 |
1,165.9 |
1,286.3 |
|
Other debentures |
54.6 |
70.6 |
551.7 |
|
Mortgages and loans |
386.5 |
71.0 |
73.7 |
|
Taxes and social security |
140.5 |
151.5 |
153.8 |
|
Total long-term liabilities |
581.6 |
293.0 |
779.2 |
|
Trade creditors |
219.1 |
184.1 |
178.7 |
|
Advances received |
87.8 |
122.9 |
80.9 |
|
Bank loans and overdrafts |
83.6 |
6.4 |
9.5 |
|
Other loans |
44.6 |
401.2 |
461.0 |
|
Taxation and social security |
248.4 |
244.3 |
198.2 |
|
Total current liabilities |
683.4 |
958.9 |
928.3 |
|
Regularisation account |
64.0 |
100.3 |
118.8 |
|
Total liabilities (including net worth) |
3,342.0 |
3,750.7 |
3,895.9 |
|
Patents |
32.1 |
41.0 |
47.0 |
|
Goodwill |
163.6 |
174.4 |
165.8 |
|
Other intangibles |
3.6 |
163.1 |
183.1 |
|
Intangibles |
326.3 |
378.4 |
395.9 |
|
Land and buildings |
342.8 |
340.9 |
330.9 |
|
Machinery and tools |
182.6 |
214.4 |
214.0 |
|
Fixtures and equipment |
342.8 |
340.9 |
330.9 |
|
Fixed assets under construction |
12.2 |
30.1 |
24.4 |
|
Total tangible fixed assets |
736.6 |
816.9 |
807.6 |
|
Shares held in associated companies |
27.4 |
17.9 |
13.3 |
|
Deposits |
9.1 |
9.8 |
20.4 |
|
Total financial assets |
36.5 |
27.7 |
33.7 |
|
Total non-current assets |
1,099.4 |
1,223.1 |
1,237.2 |
|
Raw materials |
161.8 |
161.2 |
158.3 |
|
Work in progress |
444.3 |
471.3 |
458.2 |
|
Finished goods |
431.7 |
424.5 |
499.9 |
|
Net stocks and work in progress |
1,037.9 |
1,057.0 |
1,116.4 |
|
Trade debtors |
479.1 |
534.9 |
535.4 |
|
Other receivables |
392.8 |
536.2 |
614.1 |
|
Total receivables |
871.9 |
1,071.1 |
1,149.5 |
|
Cash and liquid assets |
258.2 |
209.9 |
163.3 |
|
Recoverable taxation |
51.3 |
168.8 |
204.7 |
|
Total current assets |
2,168.0 |
2,338.0 |
2,429.2 |
|
Prepaid expenses and deferred costs |
23.4 |
20.9 |
24.8 |
|
Total assets |
3,342.0 |
3,750.7 |
3,895.9 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.753463 |
0.704672 |
0.739044 |
|
Consolidated |
Yes |
Yes |
Yes |
|
|
|
|
|
|
Current ratio |
31.72 |
24.38 |
26.17 |
|
Acid test ratio |
16.54 |
13.36 |
14.14 |
|
Total liabilities to net worth |
0.17% |
0.10% |
0.22% |
|
Net worth to total assets |
0.02% |
0.03% |
0.02% |
|
Current liabilities to net worth |
0.09% |
0.08% |
0.12% |
|
Current liabilities to stock |
0.07% |
0.09% |
0.08% |
|
Fixed assets to net worth |
0.14% |
0.10% |
0.16% |
|
Collection period |
507.00 |
522.00 |
628.00 |
|
Stock turnover rate |
3.01 |
2.83 |
3.58 |
|
Profit margin |
-0.01% |
0.00% |
-0.01% |
|
Return on assets |
0.00% |
0.00% |
0.00% |
|
Shareholders' return |
-0.04% |
-0.01% |
-0.04% |
|
Sales per employee |
16.59 |
16.37 |
12.98 |
|
Profit per employee |
-1.47 |
-0.80 |
-1.29 |
|
Average wage per employee |
5.78 |
5.43 |
4.60 |
|
Net worth |
764.1 |
1,232.6 |
783.4 |
|
Number of employees |
15,645 |
16,064 |
17,768 |
Annual Income Statement
|
Financials in:
USD (mil) Except for share
items (millions) and per share items (actual units) |
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.726943 |
0.757168 |
0.70861 |
0.707647 |
0.707132 |
|
Auditor |
PricewaterhouseCoopers
AG |
PricewaterhouseCoopers
AG |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
3,570.7 |
3,472.0 |
3,254.8 |
4,238.7 |
5,190.4 |
|
Revenue |
3,570.7 |
3,472.0 |
3,254.8 |
4,238.7 |
5,190.4 |
|
Interest Income, Non-Bank |
2.8 |
11.6 |
0.9 |
- |
19.2 |
|
Other Revenue |
166.6 |
168.6 |
218.6 |
268.0 |
290.3 |
|
Other Revenue, Total |
169.3 |
180.2 |
219.5 |
268.0 |
309.5 |
|
Total Revenue |
3,740.0 |
3,652.3 |
3,474.3 |
4,506.7 |
5,499.9 |
|
|
|
|
|
|
|
|
Cost of Revenue |
1,657.8 |
1,670.6 |
1,636.1 |
1,871.0 |
2,152.1 |
|
Cost of Revenue, Total |
1,657.8 |
1,670.6 |
1,636.1 |
1,871.0 |
2,152.1 |
|
Gross Profit |
1,912.9 |
1,801.5 |
1,618.8 |
2,367.7 |
3,038.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
380.7 |
364.5 |
- |
- |
- |
|
Labor & Related Expense |
1,244.3 |
1,152.6 |
1,152.4 |
1,506.1 |
1,668.3 |
|
Total Selling/General/Administrative Expenses |
1,625.0 |
1,517.1 |
1,152.4 |
1,506.1 |
1,668.3 |
|
Depreciation |
115.2 |
90.6 |
105.2 |
102.5 |
122.1 |
|
Amortization of Intangibles |
- |
35.7 |
41.2 |
34.9 |
49.5 |
|
Depreciation/Amortization |
115.2 |
126.3 |
146.4 |
137.4 |
171.6 |
|
Investment Income -
Operating |
28.0 |
33.8 |
- |
- |
- |
|
Interest/Investment Income - Operating |
28.0 |
33.8 |
- |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
28.0 |
33.8 |
- |
- |
- |
|
Impairment-Assets Held for Use |
4.5 |
3.1 |
0.0 |
2.9 |
3.2 |
|
Impairment-Assets Held for Sale |
- |
2.2 |
2.2 |
0.0 |
0.0 |
|
Loss (Gain) on Sale of Assets - Operating |
- |
- |
- |
- |
2.6 |
|
Other Unusual Expense (Income) |
363.5 |
152.5 |
92.8 |
311.3 |
- |
|
Unusual Expense (Income) |
368.0 |
157.8 |
95.0 |
314.3 |
5.7 |
|
Other Operating Expense |
138.3 |
138.6 |
668.2 |
999.6 |
1,123.4 |
|
Other Operating Expenses, Total |
138.3 |
138.6 |
668.2 |
999.6 |
1,123.4 |
|
Total Operating Expense |
3,932.2 |
3,644.1 |
3,698.1 |
4,828.3 |
5,121.1 |
|
|
|
|
|
|
|
|
Operating Income |
-192.3 |
8.1 |
-223.8 |
-321.6 |
378.8 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-146.5 |
-223.8 |
-187.9 |
-167.0 |
-96.1 |
|
Interest Expense, Net Non-Operating |
-146.5 |
-223.8 |
-187.9 |
-167.0 |
-96.1 |
|
Interest Income -
Non-Operating |
20.6 |
18.5 |
19.5 |
19.2 |
18.8 |
|
Investment Income -
Non-Operating |
3.5 |
8.7 |
-11.6 |
-20.5 |
-20.1 |
|
Interest/Investment Income - Non-Operating |
24.1 |
27.2 |
8.0 |
-1.3 |
-1.3 |
|
Interest Income (Expense) - Net Non-Operating Total |
-122.3 |
-196.6 |
-179.9 |
-168.4 |
-97.4 |
|
Other Non-Operating Income (Expense) |
-0.9 |
-0.3 |
- |
- |
- |
|
Other, Net |
-0.9 |
-0.3 |
- |
- |
- |
|
Income Before Tax |
-315.5 |
-188.7 |
-403.7 |
-490.0 |
281.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
-1.1 |
-18.5 |
-81.2 |
-138.5 |
81.2 |
|
Income After Tax |
-314.4 |
-170.2 |
-322.5 |
-351.5 |
200.2 |
|
|
|
|
|
|
|
|
Minority Interest |
- |
- |
- |
0.0 |
0.3 |
|
Net Income Before Extraord Items |
-314.4 |
-170.2 |
-322.5 |
-351.5 |
200.5 |
|
Net Income |
-314.4 |
-170.2 |
-322.5 |
-351.5 |
200.5 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-314.4 |
-170.2 |
-322.5 |
-351.5 |
200.5 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-314.4 |
-170.2 |
-322.5 |
-351.5 |
200.5 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
233.9 |
156.1 |
123.1 |
123.1 |
123.9 |
|
Basic EPS Excl Extraord Items |
-1.34 |
-1.09 |
-2.62 |
-2.86 |
1.62 |
|
Basic/Primary EPS Incl Extraord Items |
-1.34 |
-1.09 |
-2.62 |
-2.86 |
1.62 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
14.0 |
|
Diluted Net Income |
-314.4 |
-170.2 |
-322.5 |
-351.5 |
214.4 |
|
Diluted Weighted Average Shares |
233.9 |
156.1 |
123.1 |
123.1 |
135.5 |
|
Diluted EPS Excl Extraord Items |
-1.34 |
-1.09 |
-2.62 |
-2.86 |
1.58 |
|
Diluted EPS Incl Extraord Items |
-1.34 |
-1.09 |
-2.62 |
-2.86 |
1.58 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.85 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
104.3 |
|
Interest Expense, Supplemental |
146.5 |
223.8 |
191.0 |
168.9 |
98.2 |
|
Depreciation, Supplemental |
88.6 |
93.9 |
105.2 |
105.4 |
123.2 |
|
Total Special Items |
365.2 |
146.2 |
94.1 |
314.3 |
-13.5 |
|
Normalized Income Before Tax |
49.8 |
-42.5 |
-309.6 |
-175.7 |
267.9 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
127.8 |
51.2 |
32.9 |
110.0 |
-3.9 |
|
Inc Tax Ex Impact of Sp Items |
126.8 |
32.7 |
-48.3 |
-28.5 |
77.3 |
|
Normalized Income After Tax |
-77.0 |
-75.2 |
-261.3 |
-147.2 |
190.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-77.0 |
-75.2 |
-261.3 |
-147.2 |
190.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.33 |
-0.48 |
-2.12 |
-1.20 |
1.54 |
|
Diluted Normalized EPS |
-0.33 |
-0.48 |
-2.12 |
-1.20 |
1.51 |
|
Amort of Intangibles, Supplemental |
35.4 |
37.8 |
43.4 |
34.9 |
49.5 |
|
Rental Expenses |
85.9 |
86.9 |
101.3 |
89.9 |
88.5 |
|
Research & Development Exp, Supplemental |
177.5 |
159.8 |
170.8 |
263.2 |
313.5 |
|
Normalized EBIT |
201.0 |
188.1 |
-129.7 |
-7.3 |
365.3 |
|
Normalized EBITDA |
324.9 |
319.9 |
19.0 |
133.0 |
538.0 |
|
Current Tax - Domestic |
-118.1 |
-32.8 |
- |
- |
7.4 |
|
Current Tax - Foreign |
5.9 |
-11.6 |
- |
- |
64.8 |
|
Current Tax - Total |
- |
- |
-11.0 |
-9.9 |
- |
|
Current Tax - Total |
-112.2 |
-44.5 |
-11.0 |
-9.9 |
72.2 |
|
Deferred Tax - Domestic |
106.5 |
-47.7 |
- |
- |
24.6 |
|
Deferred Tax - Foreign |
6.8 |
73.7 |
- |
- |
-15.6 |
|
Deferred Tax - Total |
- |
- |
-70.2 |
-128.6 |
- |
|
Deferred Tax - Total |
113.3 |
26.0 |
-70.2 |
-128.6 |
9.0 |
|
Income Tax - Total |
1.1 |
-18.5 |
-81.2 |
-138.5 |
81.2 |
|
Interest Cost - Domestic |
67.7 |
63.1 |
66.4 |
65.2 |
62.2 |
|
Service Cost - Domestic |
27.8 |
28.5 |
26.8 |
26.6 |
32.9 |
|
Prior Service Cost - Domestic |
3.5 |
0.0 |
2.0 |
0.0 |
-12.0 |
|
Expected Return on Assets - Domestic |
-58.6 |
-54.4 |
-42.1 |
-62.1 |
-72.7 |
|
Other Pension, Net - Domestic |
19.3 |
26.9 |
34.8 |
24.2 |
33.3 |
|
Domestic Pension Plan Expense |
59.6 |
64.0 |
87.8 |
54.0 |
43.7 |
|
Defined Contribution Expense - Domestic |
88.2 |
77.3 |
71.3 |
124.3 |
114.4 |
|
Total Pension Expense |
147.9 |
141.3 |
159.2 |
178.2 |
158.1 |
|
Discount Rate - Domestic |
4.50% |
5.00% |
4.75% |
6.00% |
6.00% |
|
Discount Rate - Foreign |
3.52% |
4.30% |
4.55% |
4.95% |
5.34% |
|
Expected Rate of Return - Domestic |
5.17% |
4.91% |
3.73% |
5.59% |
6.50% |
|
Expected Rate of Return - Foreign |
4.60% |
5.16% |
5.44% |
5.14% |
5.40% |
|
Compensation Rate - Domestic |
3.00% |
3.00% |
3.00% |
3.00% |
3.00% |
|
Compensation Rate - Foreign |
2.44% |
2.69% |
2.68% |
2.78% |
2.98% |
|
Pension Payment Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
1.75% |
|
Pension Payment Rate - Foreign |
2.35% |
2.04% |
2.00% |
1.89% |
2.05% |
|
Total Plan Interest Cost |
67.7 |
63.1 |
66.4 |
65.2 |
62.2 |
|
Total Plan Service Cost |
27.8 |
28.5 |
26.8 |
26.6 |
32.9 |
|
Total Plan Expected Return |
-58.6 |
-54.4 |
-42.1 |
-62.1 |
-72.7 |
|
Total Plan Other Expense |
19.3 |
26.9 |
34.8 |
24.2 |
33.3 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.753463 |
0.704672 |
0.739044 |
0.753182 |
0.631094 |
|
Auditor |
PricewaterhouseCoopers
AG |
PricewaterhouseCoopers
AG |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
258.2 |
209.9 |
163.3 |
105.0 |
224.8 |
|
Short Term Investments |
0.4 |
0.6 |
0.5 |
2.1 |
3.3 |
|
Cash and Short Term Investments |
258.6 |
210.5 |
163.8 |
107.1 |
228.1 |
|
Accounts Receivable -
Trade, Gross |
658.3 |
767.6 |
790.8 |
893.2 |
1,311.2 |
|
Provision for Doubtful
Accounts |
-85.8 |
-108.4 |
-126.9 |
-132.4 |
-162.9 |
|
Trade Accounts Receivable - Net |
572.6 |
659.2 |
663.9 |
760.9 |
1,148.3 |
|
Other Receivables |
23.1 |
19.7 |
24.3 |
37.2 |
42.5 |
|
Total Receivables, Net |
595.7 |
678.9 |
688.2 |
798.1 |
1,190.8 |
|
Inventories - Finished Goods |
431.7 |
424.5 |
499.9 |
760.5 |
697.8 |
|
Inventories - Work In Progress |
444.3 |
471.3 |
458.2 |
426.7 |
608.9 |
|
Inventories - Raw Materials |
161.8 |
161.2 |
158.3 |
175.9 |
216.8 |
|
Inventories - Other |
5.0 |
4.1 |
2.8 |
9.9 |
19.5 |
|
Total Inventory |
1,042.8 |
1,061.0 |
1,119.2 |
1,373.0 |
1,542.9 |
|
Prepaid Expenses |
21.3 |
17.8 |
- |
- |
- |
|
Other Current Assets |
132.8 |
199.5 |
231.3 |
208.4 |
271.2 |
|
Other Current Assets, Total |
132.8 |
199.5 |
231.3 |
208.4 |
271.2 |
|
Total Current Assets |
2,051.3 |
2,167.7 |
2,202.5 |
2,486.6 |
3,233.0 |
|
|
|
|
|
|
|
|
Land/Improvements |
926.6 |
947.6 |
900.5 |
875.5 |
1,006.6 |
|
Machinery/Equipment |
1,757.2 |
1,924.9 |
1,863.3 |
1,856.7 |
2,191.1 |
|
Construction in
Progress |
12.2 |
30.1 |
24.4 |
43.5 |
32.3 |
|
Property/Plant/Equipment - Gross |
2,696.1 |
2,902.5 |
2,788.3 |
2,775.7 |
3,230.1 |
|
Accumulated Depreciation |
-1,969.2 |
-2,093.7 |
-1,983.0 |
-1,918.5 |
-2,310.8 |
|
Property/Plant/Equipment - Net |
726.9 |
808.8 |
805.3 |
857.2 |
919.3 |
|
Goodwill, Net |
163.6 |
174.4 |
165.8 |
166.7 |
163.5 |
|
Intangibles - Gross |
503.4 |
583.6 |
563.7 |
551.1 |
- |
|
Accumulated Intangible Amortization |
-340.7 |
-379.6 |
-333.6 |
-290.0 |
- |
|
Intangibles, Net |
162.7 |
204.0 |
230.1 |
261.1 |
269.3 |
|
LT Investments - Other |
55.6 |
46.2 |
36.1 |
40.7 |
110.7 |
|
Long Term Investments |
55.6 |
46.2 |
36.1 |
40.7 |
110.7 |
|
Note Receivable - Long Term |
113.9 |
128.3 |
170.7 |
213.0 |
308.7 |
|
Deferred Income Tax - Long Term Asset |
51.3 |
168.8 |
204.7 |
122.3 |
122.5 |
|
Discontinued Operations - Long Term Asset |
3.6 |
1.3 |
22.5 |
21.0 |
26.4 |
|
Other Long Term Assets |
13.3 |
51.2 |
58.4 |
134.7 |
403.9 |
|
Other Long Term Assets, Total |
68.1 |
221.3 |
285.5 |
278.0 |
552.7 |
|
Total Assets |
3,342.0 |
3,750.7 |
3,895.9 |
4,303.3 |
5,557.3 |
|
|
|
|
|
|
|
|
Accounts Payable |
219.1 |
184.1 |
178.7 |
241.5 |
467.4 |
|
Accrued Expenses |
170.0 |
188.1 |
145.3 |
88.2 |
- |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
0.0 |
11.3 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
130.8 |
410.6 |
475.0 |
828.9 |
80.2 |
|
Customer Advances |
87.8 |
122.9 |
80.9 |
202.2 |
- |
|
Other Current Liabilities |
533.7 |
529.3 |
608.4 |
789.9 |
1,172.3 |
|
Other Current liabilities, Total |
621.5 |
652.2 |
689.3 |
992.1 |
1,172.3 |
|
Total Current Liabilities |
1,141.4 |
1,435.0 |
1,488.4 |
2,162.0 |
1,719.9 |
|
|
|
|
|
|
|
|
Long Term Debt |
441.1 |
141.5 |
625.4 |
165.9 |
775.5 |
|
Capital Lease Obligations |
9.0 |
7.8 |
3.1 |
2.9 |
6.5 |
|
Total Long Term Debt |
450.1 |
149.4 |
628.5 |
168.7 |
782.0 |
|
Total Debt |
580.9 |
560.0 |
1,103.5 |
1,008.9 |
862.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
10.6 |
8.9 |
17.2 |
50.1 |
229.2 |
|
Deferred Income Tax |
10.6 |
8.9 |
17.2 |
50.1 |
229.2 |
|
Minority Interest |
- |
- |
- |
- |
0.0 |
|
Reserves |
377.2 |
430.0 |
481.0 |
463.4 |
571.0 |
|
Pension Benefits - Underfunded |
432.8 |
313.6 |
305.0 |
204.7 |
183.8 |
|
Other Long Term Liabilities |
165.9 |
181.2 |
192.5 |
197.3 |
181.3 |
|
Other Liabilities, Total |
975.9 |
924.8 |
978.5 |
865.4 |
936.0 |
|
Total Liabilities |
2,577.9 |
2,518.1 |
3,112.5 |
3,246.3 |
3,667.2 |
|
|
|
|
|
|
|
|
Common Stock |
795.4 |
846.2 |
269.0 |
263.9 |
315.0 |
|
Common Stock |
795.4 |
846.2 |
269.0 |
263.9 |
315.0 |
|
Retained Earnings (Accumulated Deficit) |
-31.3 |
386.4 |
514.4 |
793.1 |
1,575.2 |
|
Total Equity |
764.1 |
1,232.6 |
783.4 |
1,057.0 |
1,890.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
3,342.0 |
3,750.7 |
3,895.9 |
4,303.3 |
5,557.3 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
234.1 |
232.9 |
123.1 |
123.1 |
123.1 |
|
Total Common Shares Outstanding |
234.1 |
232.9 |
123.1 |
123.1 |
123.1 |
|
Treasury Shares - Common Stock Primary Issue |
0.1 |
0.4 |
0.6 |
0.6 |
0.6 |
|
Employees |
15,414 |
15,828 |
16,496 |
18,926 |
19,596 |
|
Accumulated Intangible Amort, Suppl. |
340.7 |
379.6 |
333.6 |
290.0 |
312.0 |
|
Deferred Revenue - Current |
87.8 |
122.9 |
80.9 |
121.5 |
129.8 |
|
Deferred Revenue - Long Term |
0.0 |
0.0 |
- |
- |
- |
|
Total Long Term Debt, Supplemental |
569.3 |
549.1 |
1,236.5 |
1,049.7 |
999.6 |
|
Long Term Debt Maturing within 1 Year |
128.2 |
407.6 |
460.3 |
838.0 |
92.3 |
|
Long Term Debt Maturing in Year 2 |
10.6 |
29.1 |
184.7 |
40.8 |
182.8 |
|
Long Term Debt Maturing in Year 3 |
10.6 |
29.1 |
184.7 |
40.8 |
182.8 |
|
Long Term Debt Maturing in Year 4 |
10.6 |
29.1 |
184.7 |
40.8 |
182.8 |
|
Long Term Debt Maturing in Year 5 |
10.6 |
29.1 |
184.7 |
40.8 |
182.8 |
|
Long Term Debt Maturing in 2-3 Years |
21.3 |
58.2 |
369.5 |
81.7 |
365.6 |
|
Long Term Debt Maturing in 4-5 Years |
21.3 |
58.2 |
369.5 |
81.7 |
365.6 |
|
Long Term Debt Matur. in Year 6 & Beyond |
398.6 |
25.1 |
37.2 |
48.5 |
176.1 |
|
Interest Costs |
- |
- |
- |
- |
-0.4 |
|
Total Capital Leases, Supplemental |
11.6 |
10.9 |
7.6 |
7.7 |
13.6 |
|
Capital Lease Payments Due in Year 1 |
2.6 |
3.1 |
4.5 |
4.8 |
7.4 |
|
Capital Lease Payments Due in Year 2 |
1.6 |
1.0 |
0.7 |
0.7 |
1.7 |
|
Capital Lease Payments Due in Year 3 |
1.6 |
1.0 |
0.7 |
0.7 |
1.7 |
|
Capital Lease Payments Due in Year 4 |
1.6 |
1.0 |
0.7 |
0.7 |
1.7 |
|
Capital Lease Payments Due in Year 5 |
1.6 |
1.0 |
0.7 |
0.7 |
1.7 |
|
Capital Lease Payments Due in 2-3 Years |
3.1 |
2.0 |
1.5 |
1.4 |
3.3 |
|
Capital Lease Payments Due in 4-5 Years |
3.1 |
2.0 |
1.5 |
1.4 |
3.3 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
2.7 |
3.8 |
0.1 |
0.0 |
0.0 |
|
Total Operating Leases, Supplemental |
325.2 |
404.8 |
458.6 |
455.6 |
681.4 |
|
Operating Lease Payments Due in Year 1 |
57.9 |
69.7 |
74.1 |
78.4 |
103.8 |
|
Operating Lease Payments Due in Year 2 |
39.8 |
46.0 |
51.2 |
49.7 |
62.7 |
|
Operating Lease Payments Due in Year 3 |
39.8 |
46.0 |
51.2 |
49.7 |
62.7 |
|
Operating Lease Payments Due in Year 4 |
39.8 |
46.0 |
51.2 |
49.7 |
62.7 |
|
Operating Lease Payments Due in Year 5 |
39.8 |
46.0 |
51.2 |
49.7 |
62.7 |
|
Operating Lease Pymts. Due in 2-3 Years |
79.6 |
91.9 |
102.5 |
99.5 |
125.3 |
|
Operating Lease Pymts. Due in 4-5 Years |
79.6 |
91.9 |
102.5 |
99.5 |
125.3 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
108.1 |
151.2 |
179.6 |
178.3 |
326.9 |
|
Pension Obligation - Domestic |
1,513.6 |
1,436.0 |
1,348.6 |
1,105.5 |
1,284.4 |
|
Plan Assets - Domestic |
1,123.3 |
1,167.9 |
1,091.0 |
933.1 |
1,295.6 |
|
Funded Status - Domestic |
-390.3 |
-268.1 |
-257.7 |
-172.4 |
11.2 |
|
Unfunded Plan Obligations |
41.3 |
35.7 |
35.3 |
32.3 |
33.6 |
|
Total Funded Status |
-431.6 |
-303.7 |
-292.9 |
-204.7 |
-22.4 |
|
Discount Rate - Domestic |
4.50% |
5.00% |
4.75% |
6.00% |
6.00% |
|
Discount Rate - Foreign |
3.52% |
4.30% |
4.55% |
4.95% |
5.34% |
|
Expected Rate of Return - Domestic |
5.17% |
4.91% |
3.73% |
5.59% |
6.50% |
|
Expected Rate of Return - Foreign |
4.60% |
5.16% |
5.44% |
5.14% |
5.40% |
|
Compensation Rate - Domestic |
3.00% |
3.00% |
3.00% |
3.00% |
3.00% |
|
Compensation Rate - Foreign |
2.44% |
2.69% |
2.68% |
2.78% |
2.98% |
|
Pension Payment Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
1.75% |
|
Pension Payment Rate - Foreign |
2.35% |
2.04% |
2.00% |
1.89% |
2.05% |
|
Equity % - Domestic |
- |
- |
32.40% |
24.00% |
32.00% |
|
Debt Securities % - Domestic |
- |
- |
54.82% |
63.00% |
56.00% |
|
Real Estate % - Domestic |
- |
- |
4.20% |
5.00% |
4.00% |
|
Total Plan Obligations |
1,554.9 |
1,471.7 |
1,383.9 |
1,137.8 |
1,318.0 |
|
Total Plan Assets |
1,123.3 |
1,167.9 |
1,091.0 |
933.1 |
1,295.6 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.726943 |
0.757168 |
0.70861 |
0.707647 |
0.707132 |
|
Auditor |
PricewaterhouseCoopers
AG |
PricewaterhouseCoopers
AG |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-316.5 |
-170.2 |
-322.5 |
-351.5 |
200.2 |
|
Depreciation |
124.9 |
134.3 |
158.2 |
157.4 |
175.3 |
|
Depreciation/Depletion |
124.9 |
134.3 |
158.2 |
157.4 |
175.3 |
|
Deferred Taxes |
-6.0 |
-22.9 |
-124.3 |
-159.1 |
52.3 |
|
Unusual Items |
-1.0 |
-13.0 |
1.1 |
2.5 |
-19.8 |
|
Other Non-Cash Items |
142.7 |
-87.0 |
-67.0 |
156.3 |
44.9 |
|
Non-Cash Items |
141.7 |
-100.0 |
-66.0 |
158.8 |
25.1 |
|
Accounts Receivable |
140.9 |
66.1 |
103.9 |
165.3 |
279.2 |
|
Inventories |
-34.7 |
106.5 |
300.3 |
-29.3 |
-130.4 |
|
Other Assets & Liabilities, Net |
26.8 |
117.4 |
-106.7 |
54.7 |
-11.5 |
|
Changes in Working Capital |
133.0 |
290.0 |
297.5 |
190.7 |
137.3 |
|
Cash from Operating Activities |
77.0 |
131.3 |
-57.1 |
-3.7 |
590.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-90.7 |
-96.9 |
-82.9 |
-279.6 |
-306.6 |
|
Capital Expenditures |
-90.7 |
-96.9 |
-82.9 |
-279.6 |
-306.6 |
|
Acquisition of Business |
-9.2 |
-1.2 |
-2.7 |
-43.8 |
0.0 |
|
Sale of Fixed Assets |
39.2 |
50.0 |
58.0 |
45.3 |
60.0 |
|
Sale/Maturity of Investment |
0.1 |
18.9 |
0.0 |
0.3 |
3.4 |
|
Purchase of Investments |
-3.0 |
-3.3 |
-3.2 |
-1.1 |
-42.0 |
|
Other Investing Cash Flow |
- |
- |
- |
- |
0.0 |
|
Other Investing Cash Flow Items, Total |
27.2 |
64.5 |
52.1 |
0.5 |
21.4 |
|
Cash from Investing Activities |
-63.5 |
-32.4 |
-30.8 |
-279.1 |
-285.1 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
- |
0.0 |
0.0 |
-104.2 |
-105.8 |
|
Total Cash Dividends Paid |
- |
0.0 |
0.0 |
-104.2 |
-105.8 |
|
Sale/Issuance of
Common |
0.0 |
525.4 |
- |
- |
- |
|
Repurchase/Retirement
of Common |
- |
- |
- |
0.0 |
-80.7 |
|
Common Stock, Net |
0.0 |
525.4 |
- |
0.0 |
-80.7 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
525.4 |
- |
0.0 |
-80.7 |
|
Long Term Debt Issued |
564.3 |
45.2 |
840.5 |
337.6 |
155.0 |
|
Long Term Debt Reduction |
-524.0 |
-636.6 |
-703.5 |
-47.8 |
-175.6 |
|
Long Term Debt, Net |
40.3 |
-591.4 |
137.0 |
289.8 |
-20.6 |
|
Issuance (Retirement) of Debt, Net |
40.3 |
-591.4 |
137.0 |
289.8 |
-20.6 |
|
Cash from Financing Activities |
40.3 |
-66.1 |
137.0 |
185.6 |
-207.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
10.4 |
3.2 |
8.3 |
6.8 |
-6.5 |
|
Net Change in Cash |
64.1 |
36.0 |
57.4 |
-90.4 |
91.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
203.5 |
159.4 |
112.9 |
203.4 |
112.1 |
|
Net Cash - Ending Balance |
267.6 |
195.4 |
170.3 |
113.1 |
203.6 |
|
Cash Interest Paid |
56.8 |
112.9 |
166.0 |
51.7 |
41.6 |
|
Cash Taxes Paid |
16.6 |
15.7 |
58.9 |
2.9 |
50.1 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.726943 |
0.757168 |
0.70861 |
0.707647 |
0.707132 |
|
Auditor |
PricewaterhouseCoopers
AG |
PricewaterhouseCoopers
AG |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
3,570.7 |
3,472.0 |
3,254.8 |
4,238.7 |
5,190.4 |
|
Other Operating Income |
166.6 |
168.6 |
218.6 |
268.0 |
290.3 |
|
Gain on Sale of Assets |
2.8 |
11.6 |
0.9 |
- |
19.2 |
|
Total Revenue |
3,740.0 |
3,652.3 |
3,474.3 |
4,506.7 |
5,499.9 |
|
|
|
|
|
|
|
|
Change/Inventory |
-21.9 |
60.2 |
201.3 |
-0.9 |
-97.3 |
|
Work Capitalised |
-14.7 |
-19.5 |
-20.7 |
-110.6 |
-110.9 |
|
Cost of Revenue |
1,694.4 |
1,629.8 |
1,455.5 |
1,982.5 |
2,360.3 |
|
Staff Costs |
1,244.3 |
1,152.6 |
1,152.4 |
1,506.1 |
1,668.3 |
|
Amortization |
- |
35.7 |
41.2 |
34.9 |
49.5 |
|
Depreciation |
115.2 |
90.6 |
105.2 |
102.5 |
122.1 |
|
Write-down of Assets |
- |
0.0 |
0.0 |
0.0 |
2.1 |
|
Impairment of Fixed Assets |
4.5 |
3.1 |
0.0 |
2.9 |
1.1 |
|
Impairment of Intangibles |
- |
2.2 |
2.2 |
0.0 |
0.0 |
|
Other Operating Expenses |
138.3 |
138.6 |
668.2 |
999.6 |
1,123.4 |
|
Selling/General Expenses |
380.7 |
364.5 |
- |
- |
- |
|
Bad Debt Allowances/Impairm. Oth. Assets |
167.8 |
155.5 |
52.7 |
58.4 |
- |
|
Exchange Rate Results |
28.0 |
33.8 |
- |
- |
- |
|
Special Items |
195.7 |
-2.9 |
40.1 |
252.9 |
- |
|
Losses on Disposals of Assets |
- |
- |
- |
- |
2.6 |
|
Total Operating Expense |
3,932.2 |
3,644.1 |
3,698.1 |
4,828.3 |
5,121.1 |
|
|
|
|
|
|
|
|
Interest Income |
20.6 |
18.5 |
19.5 |
19.2 |
18.8 |
|
Securities |
7.6 |
11.4 |
8.5 |
9.9 |
8.9 |
|
Interest Expense |
-146.5 |
-223.8 |
-187.9 |
-167.0 |
-96.1 |
|
Investment Exp. |
-4.0 |
-2.7 |
-20.1 |
-30.4 |
-29.0 |
|
Financial Assets Write-offs |
-0.9 |
-0.3 |
- |
- |
- |
|
Net Income Before Taxes |
-315.5 |
-188.7 |
-403.7 |
-490.0 |
281.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
-1.1 |
-18.5 |
-81.2 |
-138.5 |
81.2 |
|
Net Income After Taxes |
-314.4 |
-170.2 |
-322.5 |
-351.5 |
200.2 |
|
|
|
|
|
|
|
|
Minority Interests |
- |
- |
- |
0.0 |
0.3 |
|
Net Income Before Extra. Items |
-314.4 |
-170.2 |
-322.5 |
-351.5 |
200.5 |
|
Net Income |
-314.4 |
-170.2 |
-322.5 |
-351.5 |
200.5 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-314.4 |
-170.2 |
-322.5 |
-351.5 |
200.5 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-314.4 |
-170.2 |
-322.5 |
-351.5 |
200.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
233.9 |
156.1 |
123.1 |
123.1 |
123.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
-1.34 |
-1.09 |
-2.62 |
-2.86 |
1.62 |
|
Basic EPS Including ExtraOrdinary Item |
-1.34 |
-1.09 |
-2.62 |
-2.86 |
1.62 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
14.0 |
|
Diluted Net Income |
-314.4 |
-170.2 |
-322.5 |
-351.5 |
214.4 |
|
Diluted Weighted Average Shares |
233.9 |
156.1 |
123.1 |
123.1 |
135.5 |
|
Diluted EPS Excluding ExtraOrd Items |
-1.34 |
-1.09 |
-2.62 |
-2.86 |
1.58 |
|
Diluted EPS Including ExtraOrd Items |
-1.34 |
-1.09 |
-2.62 |
-2.86 |
1.58 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
0.00 |
0.85 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
104.3 |
|
Normalized Income Before Taxes |
49.8 |
-42.5 |
-309.6 |
-175.7 |
267.9 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
126.8 |
32.7 |
-48.3 |
-28.5 |
77.3 |
|
Normalized Income After Taxes |
-77.0 |
-75.2 |
-261.3 |
-147.2 |
190.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-77.0 |
-75.2 |
-261.3 |
-147.2 |
190.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.33 |
-0.48 |
-2.12 |
-1.20 |
1.54 |
|
Diluted Normalized EPS |
-0.33 |
-0.48 |
-2.12 |
-1.20 |
1.51 |
|
Research and Development Costs |
177.5 |
159.8 |
170.8 |
263.2 |
313.5 |
|
Interest Expense |
146.5 |
223.8 |
191.0 |
168.9 |
98.2 |
|
Rental Expense |
85.9 |
86.9 |
101.3 |
89.9 |
88.5 |
|
Amortisation of Intangibles |
35.4 |
37.8 |
43.4 |
34.9 |
49.5 |
|
Depreciation |
88.6 |
93.9 |
105.2 |
105.4 |
123.2 |
|
Current Tax - Domestic |
-118.1 |
-32.8 |
- |
- |
7.4 |
|
Current Tax - Foreign |
5.9 |
-11.6 |
- |
- |
64.8 |
|
Current Tax |
- |
- |
-11.0 |
-9.9 |
- |
|
Current Tax - Total |
-112.2 |
-44.5 |
-11.0 |
-9.9 |
72.2 |
|
Deferred Tax - Domestic |
106.5 |
-47.7 |
- |
- |
24.6 |
|
Deferred Tax - Foreign |
6.8 |
73.7 |
- |
- |
-15.6 |
|
Deferred Tax |
- |
- |
-70.2 |
-128.6 |
- |
|
Deferred Tax - Total |
113.3 |
26.0 |
-70.2 |
-128.6 |
9.0 |
|
Income Tax - Total |
1.1 |
-18.5 |
-81.2 |
-138.5 |
81.2 |
|
Service Cost |
27.8 |
28.5 |
26.8 |
26.6 |
32.9 |
|
Interest Cost |
67.7 |
63.1 |
66.4 |
65.2 |
62.2 |
|
Prior Service Cost |
3.5 |
0.0 |
2.0 |
0.0 |
-12.0 |
|
Plan Reduction |
-2.2 |
0.9 |
-0.6 |
-5.0 |
0.0 |
|
Expected Return on Plan Assets |
-58.6 |
-54.4 |
-42.1 |
-62.1 |
-72.7 |
|
Other Expense |
21.5 |
26.0 |
35.4 |
29.2 |
33.3 |
|
Domestic Pension Plan Expense |
59.6 |
64.0 |
87.8 |
54.0 |
43.7 |
|
Defined Contribution Plan |
88.2 |
77.3 |
71.3 |
124.3 |
114.4 |
|
Total Pension Expense |
147.9 |
141.3 |
159.2 |
178.2 |
158.1 |
|
Discount Rate - Domestic |
4.50% |
5.00% |
4.75% |
6.00% |
6.00% |
|
Expectede Return on Plan Assets - Domest |
5.17% |
4.91% |
3.73% |
5.59% |
6.50% |
|
Compensation Rate - Domestic |
3.00% |
3.00% |
3.00% |
3.00% |
3.00% |
|
Pension Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
1.75% |
|
Discount Rate - Foreign |
3.52% |
4.30% |
4.55% |
4.95% |
5.34% |
|
Expected Return on Plan Assets - Foreign |
4.60% |
5.16% |
5.44% |
5.14% |
5.40% |
|
Compensation Rate - Foreign |
2.44% |
2.69% |
2.68% |
2.78% |
2.98% |
|
Pension Rate - Foreign |
2.35% |
2.04% |
2.00% |
1.89% |
2.05% |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.753463 |
0.704672 |
0.739044 |
0.753182 |
0.631094 |
|
Auditor |
PricewaterhouseCoopers
AG |
PricewaterhouseCoopers
AG |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Raw Materials |
161.8 |
161.2 |
158.3 |
175.9 |
216.8 |
|
Work in Process |
444.3 |
471.3 |
458.2 |
426.7 |
608.9 |
|
Man/ Products |
431.7 |
424.5 |
499.9 |
760.5 |
697.8 |
|
Prepayments |
5.0 |
4.1 |
2.8 |
9.9 |
19.5 |
|
Customer Financing Receivables Gross |
124.6 |
168.4 |
186.8 |
225.8 |
279.0 |
|
Provisions for Financing Receivables |
-31.1 |
-44.1 |
-58.4 |
-63.5 |
-75.8 |
|
Account Receivables |
533.7 |
599.1 |
604.0 |
667.4 |
1,032.3 |
|
Provisions for Doubtful Accounts |
-54.7 |
-64.2 |
-68.6 |
-68.8 |
-87.1 |
|
Tax Receivable |
23.1 |
19.7 |
24.3 |
37.2 |
42.5 |
|
Loans |
0.4 |
0.6 |
0.5 |
0.9 |
- |
|
Deferred/Accrued |
21.3 |
17.8 |
- |
- |
- |
|
Other Assets |
132.8 |
199.5 |
231.3 |
208.4 |
271.2 |
|
Securities |
- |
- |
0.0 |
1.2 |
3.3 |
|
Cash |
258.2 |
209.9 |
163.3 |
105.0 |
224.8 |
|
Total Current Assets |
2,051.3 |
2,167.7 |
2,202.5 |
2,486.6 |
3,233.0 |
|
|
|
|
|
|
|
|
Intangibles, Gross |
503.4 |
583.6 |
563.7 |
551.1 |
- |
|
Amortisation |
-340.7 |
-379.6 |
-333.6 |
-290.0 |
- |
|
Goodwill |
163.6 |
174.4 |
165.8 |
166.7 |
163.5 |
|
Intangibles |
- |
- |
- |
- |
269.3 |
|
Land/Buildings |
926.6 |
947.6 |
900.5 |
875.5 |
1,006.6 |
|
Equipment/Mach. |
814.4 |
886.6 |
854.2 |
816.8 |
981.4 |
|
Other Equipment |
942.8 |
1,038.2 |
1,009.1 |
1,040.0 |
1,209.7 |
|
Construction |
12.2 |
30.1 |
24.4 |
43.5 |
32.3 |
|
Depreciation |
-1,969.2 |
-2,093.7 |
-1,983.0 |
-1,918.5 |
-2,310.8 |
|
Real Estate Investments |
9.8 |
8.0 |
2.4 |
2.3 |
2.8 |
|
Other LT Financial Assets |
9.3 |
10.4 |
- |
- |
- |
|
Securities |
36.5 |
27.7 |
33.7 |
38.3 |
107.8 |
|
Rec. Leasing to Customers/Factoring |
113.9 |
128.3 |
158.2 |
200.5 |
308.7 |
|
Loans Receivables |
- |
- |
12.5 |
12.5 |
- |
|
Other Receivables and Other Assets |
12.7 |
50.5 |
57.6 |
40.6 |
283.4 |
|
Tax Assets |
0.6 |
0.7 |
0.8 |
94.1 |
120.5 |
|
Deferred Taxes |
51.3 |
168.8 |
204.7 |
122.3 |
122.5 |
|
Assets for Sale |
3.6 |
1.3 |
22.5 |
21.0 |
26.4 |
|
Total Assets |
3,342.0 |
3,750.7 |
3,895.9 |
4,303.3 |
5,557.3 |
|
|
|
|
|
|
|
|
Other Provisions |
428.3 |
413.3 |
483.1 |
623.4 |
599.6 |
|
Convertible Bond |
- |
- |
0.0 |
403.4 |
0.0 |
|
Bonds |
66.4 |
6.4 |
9.5 |
82.5 |
11.5 |
|
Bank Current Account |
- |
- |
- |
11.3 |
0.0 |
|
Banks |
20.3 |
375.6 |
437.4 |
315.8 |
29.2 |
|
Financial Leasing |
2.6 |
3.1 |
4.5 |
4.8 |
7.1 |
|
Other Financial Liability |
24.4 |
25.6 |
23.6 |
22.3 |
32.5 |
|
High Interest Loans |
17.2 |
0.0 |
- |
- |
- |
|
Trade Payables |
219.1 |
184.1 |
178.7 |
241.5 |
467.4 |
|
Income Tax Liabilities |
3.1 |
2.6 |
2.7 |
2.6 |
5.6 |
|
Deferred Income |
87.8 |
122.9 |
80.9 |
202.2 |
- |
|
Social Security |
113.9 |
125.3 |
68.3 |
88.2 |
- |
|
Deferred/Accrued |
56.1 |
62.8 |
77.0 |
- |
- |
|
Other Liabilities |
102.2 |
113.4 |
122.6 |
164.0 |
567.1 |
|
Total Current Liabilities |
1,141.4 |
1,435.0 |
1,488.4 |
2,162.0 |
1,719.9 |
|
|
|
|
|
|
|
|
Convertible Bond |
- |
- |
0.0 |
0.0 |
467.5 |
|
Bonds |
0.0 |
71.0 |
73.7 |
81.7 |
195.7 |
|
Banks |
54.6 |
70.6 |
551.6 |
84.0 |
111.8 |
|
Financial Leasing |
9.0 |
7.8 |
3.1 |
2.9 |
6.5 |
|
High Interest Loans |
386.5 |
0.0 |
- |
- |
- |
|
Other LT Debt |
0.0 |
0.0 |
0.1 |
0.2 |
0.4 |
|
Total Long Term Debt |
450.1 |
149.4 |
628.5 |
168.7 |
782.0 |
|
|
|
|
|
|
|
|
Pension Prov. |
432.8 |
313.6 |
305.0 |
204.7 |
183.8 |
|
Other Provisions |
377.2 |
430.0 |
481.0 |
463.4 |
571.0 |
|
Other Liability |
165.9 |
181.2 |
192.5 |
197.3 |
181.3 |
|
Deferred Taxes |
10.6 |
8.9 |
17.2 |
50.1 |
229.2 |
|
Minority Int. |
- |
- |
- |
- |
0.0 |
|
Total Liabilities |
2,577.9 |
2,518.1 |
3,112.5 |
3,246.3 |
3,667.2 |
|
|
|
|
|
|
|
|
Share Capital |
795.4 |
846.2 |
269.0 |
263.9 |
315.0 |
|
Capital & Revenue Reserves |
274.0 |
569.3 |
823.6 |
1,123.3 |
1,350.5 |
|
Net Profit |
-305.4 |
-182.9 |
-309.2 |
-330.2 |
224.6 |
|
Total Equity |
764.1 |
1,232.6 |
783.4 |
1,057.0 |
1,890.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
3,342.0 |
3,750.7 |
3,895.9 |
4,303.3 |
5,557.3 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
234.1 |
232.9 |
123.1 |
123.1 |
123.1 |
|
Total Common Shares Outstanding |
234.1 |
232.9 |
123.1 |
123.1 |
123.1 |
|
T/S-Common Stock |
0.1 |
0.4 |
0.6 |
0.6 |
0.6 |
|
Deferred Revenue - Current |
87.8 |
122.9 |
80.9 |
121.5 |
129.8 |
|
Deferred Revenue - Long Term |
0.0 |
0.0 |
- |
- |
- |
|
Accumulated Intangible Amortisation |
340.7 |
379.6 |
333.6 |
290.0 |
312.0 |
|
Full-Time Employees |
15,414 |
15,828 |
16,496 |
18,926 |
19,596 |
|
Debt within 1 Year |
128.2 |
407.6 |
460.3 |
838.0 |
92.3 |
|
Debt from 1-5 Years |
42.5 |
116.5 |
738.9 |
163.3 |
731.2 |
|
Debt over 5 Years |
398.6 |
25.1 |
37.2 |
48.5 |
176.1 |
|
Total Long Term Debt, Supplemental |
569.3 |
549.1 |
1,236.5 |
1,049.7 |
999.6 |
|
Cap. Lease within 1 Year |
2.6 |
3.1 |
4.5 |
4.8 |
7.4 |
|
Cap. Lease from 1-5 Years |
6.3 |
4.1 |
2.9 |
2.9 |
6.6 |
|
Cap. Lease from > 5 Years |
2.7 |
3.8 |
0.1 |
0.0 |
0.0 |
|
Interest |
- |
- |
- |
- |
-0.4 |
|
Total Capital Leases |
11.6 |
10.9 |
7.6 |
7.7 |
13.6 |
|
Operating Lease within 1 Year |
57.9 |
69.7 |
74.1 |
78.4 |
103.8 |
|
Operating Lease from 1-5 Years |
159.3 |
183.8 |
204.9 |
198.9 |
250.7 |
|
Operating Lease > 5 Years |
108.1 |
151.2 |
179.6 |
178.3 |
326.9 |
|
Total Operating Leases |
325.2 |
404.8 |
458.6 |
455.6 |
681.4 |
|
Pension Obligation |
1,513.6 |
1,436.0 |
1,348.6 |
1,105.5 |
1,284.4 |
|
Plan Assets |
1,123.3 |
1,167.9 |
1,091.0 |
933.1 |
1,295.6 |
|
Funded Status |
-390.3 |
-268.1 |
-257.7 |
-172.4 |
11.2 |
|
Unfunded Obligations |
41.3 |
35.7 |
35.3 |
32.3 |
33.6 |
|
Total Funded Status |
-431.6 |
-303.7 |
-292.9 |
-204.7 |
-22.4 |
|
Discount Rate - Domestic |
4.50% |
5.00% |
4.75% |
6.00% |
6.00% |
|
Expected Return on Plan Assets - Domesti |
5.17% |
4.91% |
3.73% |
5.59% |
6.50% |
|
Compensation Rate - Domestic |
3.00% |
3.00% |
3.00% |
3.00% |
3.00% |
|
Pension Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
1.75% |
|
Discount Rate - Foreign |
3.52% |
4.30% |
4.55% |
4.95% |
5.34% |
|
Expected Return on Plan Assets - Foreign |
4.60% |
5.16% |
5.44% |
5.14% |
5.40% |
|
Compensation Rate - Foreign |
2.44% |
2.69% |
2.68% |
2.78% |
2.98% |
|
Pension Rate - Foreign |
2.35% |
2.04% |
2.00% |
1.89% |
2.05% |
|
Debentures |
- |
- |
54.82% |
63.00% |
56.00% |
|
Equity |
- |
- |
32.40% |
24.00% |
32.00% |
|
Real Estate |
- |
- |
4.20% |
5.00% |
4.00% |
|
Insurance Instruments |
- |
- |
3.57% |
4.00% |
4.00% |
|
Cash |
- |
- |
3.60% |
2.00% |
3.00% |
|
Other |
- |
- |
1.41% |
2.00% |
1.00% |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.726943 |
0.757168 |
0.70861 |
0.707647 |
0.707132 |
|
Auditor |
PricewaterhouseCoopers
AG |
PricewaterhouseCoopers
AG |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
PricewaterhouseCoopers
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Result bef. Minority |
-316.5 |
-170.2 |
-322.5 |
-351.5 |
200.2 |
|
Depreciation |
124.9 |
134.3 |
158.2 |
157.4 |
175.3 |
|
Pension Provisions |
19.9 |
18.0 |
35.3 |
15.0 |
1.6 |
|
Deferred Taxes |
-6.0 |
-22.9 |
-124.3 |
-159.1 |
52.3 |
|
Disposal/Assets |
-1.0 |
-13.0 |
1.1 |
2.5 |
-19.8 |
|
Inventories |
-34.7 |
106.5 |
300.3 |
-29.3 |
-130.4 |
|
Customer Financing |
40.4 |
42.2 |
93.7 |
88.3 |
113.0 |
|
Accounts Receivable |
100.4 |
23.9 |
10.2 |
76.9 |
166.2 |
|
Change/Provisions |
122.8 |
-105.0 |
-102.5 |
139.5 |
42.6 |
|
Balance Sheet Items |
26.8 |
117.4 |
-106.7 |
54.7 |
-11.5 |
|
Consolidation |
- |
0.0 |
0.1 |
1.8 |
0.7 |
|
Cash from Operating Activities |
77.0 |
131.3 |
-57.1 |
-3.7 |
590.2 |
|
|
|
|
|
|
|
|
Purch. Intang./Tang./Real Estate |
-90.7 |
-96.9 |
-82.9 |
-279.6 |
-306.6 |
|
Disp. Intang./Tang./Real Estate |
39.2 |
50.0 |
58.0 |
45.3 |
60.0 |
|
Purch. Financial Assets |
-3.0 |
-3.3 |
-3.2 |
-1.1 |
-42.0 |
|
Disposal Financial Assets |
0.1 |
18.9 |
0.0 |
0.3 |
3.4 |
|
Funding Pensions |
- |
- |
- |
- |
0.0 |
|
Business Acquisitions |
-9.2 |
-1.2 |
-2.7 |
-43.8 |
0.0 |
|
Cash from Investing Activities |
-63.5 |
-32.4 |
-30.8 |
-279.1 |
-285.1 |
|
|
|
|
|
|
|
|
Capital Changes |
0.0 |
525.4 |
- |
- |
- |
|
Purchase of Own Shares |
- |
- |
- |
0.0 |
-80.7 |
|
Dividend Paid |
- |
0.0 |
0.0 |
-104.2 |
-105.8 |
|
Financial Debt Issued |
564.3 |
45.2 |
840.5 |
337.6 |
155.0 |
|
Repayment/Debt |
-524.0 |
-636.6 |
-703.5 |
-47.8 |
-175.6 |
|
Cash from Financing Activities |
40.3 |
-66.1 |
137.0 |
185.6 |
-207.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
10.4 |
3.2 |
8.3 |
6.8 |
-6.5 |
|
Net Change in Cash |
64.1 |
36.0 |
57.4 |
-90.4 |
91.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
203.5 |
159.4 |
112.9 |
203.4 |
112.1 |
|
Net Cash - Ending Balance |
267.6 |
195.4 |
170.3 |
113.1 |
203.6 |
|
Cash Interest Paid |
56.8 |
112.9 |
166.0 |
51.7 |
41.6 |
|
Cash Taxes Paid |
16.6 |
15.7 |
58.9 |
2.9 |
50.1 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.91 |
|
UK Pound |
1 |
Rs.87.60 |
|
Euro |
1 |
Rs.70.01 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.