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Dividends For 2003 a dividend of EUR 1.00 per outstanding share is proposed by the Managing Board. The dividend for 2002 of EUR 11,543 thousand which is equal to EUR 0.90 per share
was proposed by the Managing Board and has been resolved at the 96th ordinary shareholders’ meeting on 8 April 2003. The dividend has been paid to the shareholders on 14 April 2003. On 16 February 2004 the Managing
Board authorised the consolidated financial statements for the year ended 31 December 2003 according to IFRS. On 17 February 2003 the management authorised the consolidated financial statements for the year ended 31 December 2002 according to IFRS to be issued
to its Supervisory Board. The Supervisory Board is made up solely of non-executives and includes representatives of employees. The consolidated financial statements were presented for information purposes only to the Supervisory Board and subsequently acknowledged
by the meeting of shareholders. The Supervisory Board and the meeting of shareholders acknowledged the consolidated financial statements. Currency translation adjustment Equity
and shareholder loans in foreign currency are not hedged against currency risks because the investments are considered to be permanent and the conversion to the reporting currency is not planned. Exceptions are made for planned disposal of investments or planned
repayments of shareholder loans. In 2003 a negative currency translation adjustment arose from investments in foreign currency amounting to EUR 17,617 thousand mainly due to the change of the currency exchange rate between Euro and Dollar compared to previous
year. This currency translation adjustment has been directly recognized in equity without income effect.
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