Annual Report 2003 Annual Report 2003 Bertelsmann Bertelsmann Financial Highlights in € Millions
Bertelsmann Annual Report 2003 Annual Report2003 Bertelsmann Financial Highlights in € millions IFRS IFRS IFRS IFRS IFRS Pro forma 7/1/2001 2000/ 2003 2002 2001 –12/31/2001 2001 Business Development Revenues 16,801 18,312 18,979 9,685 16,748 Operating EBITA 1,123 936 573 164 826 Net income before minority interests 208 968 1,378 931 987 Cash Flow 1,373 1,115 294 127 160 Investments 761 5,263 2,639 1,067 2,744 Total assets 20,164 22,188 23,734 23,734 17,245 Personnel costs 4,151 4,554 4,812 2,343 4,319 Employees (in absolute numbers) Germany 27,064 31,712 31,870 31,870 30,732 Other countries 46,157 48,920 48,426 48,426 43,816 Total 73,221 80,632 80,296 80,296 74,548 Equity Subscribed capital 1) 606 606 606 606 463 Retained earnings 6,060 6,079 5,697 5,697 3,222 Minority interests 965 1,059 2,081 2,081 792 Equity 7,631 7,744 8,384 8,384 4,477 As percentage of total assets 38 35 35 35 26 Net financial debt 820 2,741 859 859 2,298 Debt payback factor 2) 0.6 2.5 2.9 n/m n/m Net Income Net income before minority interests 208 968 1,378 931 987 Minority interests 54 40 (143) (18) 246 Dividend 220 240 n/a 300 50 Profit participation payments 3) 76 77 77 39 95 Employee profit sharing 3) 29 34 n/a 19 44 1) 57.6 percent Bertelsmann Foundation, 17.3 percent Mohn family, 25.1 percent Groupe Bruxelles Lambert (GBL) (as of 12/31/2003) 2) Net financial debt/Cash Flow 3) Offset in net income Bertelsmann Annual Report 2003 Contents | 1 Letter from the Chairman 2 Executive Board 6 Management Report 10 Supervisory Board Report 48 Corporate Governance at Bertelsmann 50 Contents Annual Report January 1 through December 31, 2003 Consolidated Financial Statements as of December 31, 2003 Consolidated Income Statement 54 Consolidated Balance Sheet 55 Consolidated Cash Flow Statement 56 Consolidated Statement of Changes in Shareholders’ Equity 57 Segment Reporting 58 Notes 60 Boards/Mandates 104 Auditor’s Report 107 Select Terms at a Glance 108 2 | Letter from the Chairman Bertelsmann Annual Report 2003 Dear Friends of Bertelsmann, Berlin is a fascinating city.
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