Annual Report 2003 Key Data for the Group According to Us Gaap Definitions Contact
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ANNUAL REPORT 2003 KEY DATA FOR THE GROUP ACCORDING TO US GAAP DEFINITIONS CONTACT Income before taxes Return on sales = CLAAS KGaA mbH 2003 2002 Change % Net sales P.O. Box 1163 PROFIT AND LOSS ACCOUNT Net income + taxes on income + minority interest -/+ income from changes EBIT = Münsterstrasse 33 in accounting principles + interest expense + profit transferred under a partial profit transfer D-33426 Harsewinkel Net Sales € million 1,496.3 1,265.5 18.2 agreement (CMG) + remuneration participating certificates Germany EBIT € million 53.2 84.0 (36.7) EBITDA = EBIT + depreciation of tangible assets + amortization of intangible assets EBITDA € million 90.9 111.9 (18.8) www.claas.com Net income ANNUAL REPORT 2003 Return on equity = Net income € million 17.9 32.5 (44.9) Equity Additional copies of this report Income before taxes € million 22.6 55.8 (59.5) and further information about EBIT Return on total capital employed = Cash flow € million 58.1 67.4 (13.8) Balance sheet total CLAAS are available free of charge on request. R&D expenses € million 67.2 63.0 6.7 Net income + depreciation of tangible assets + amortization of intangible assets +/- Cash flow according to DVFA/SG = changes of pension provisions and other long-term provisions +/- other expenses/ income without cash flow impact BALANCE SHEET Equity Equity € million 292,5 292.2 0.1 Equity ratio = Balance sheet total Capital expenditure € million 54.2 54.3 (0.2) Liquidity together Balance sheet total € million 1,412.8 1,019.6 38.6 First-degree liquidity = Customers Short-term liabilities Partners Equity + funds similar to equity + long-term liabilities Equity to fixed assets ratio = Investors EMPLOYEES Fixed assets Employees Employees as at the balance sheet date* 8,391 6,114 37.2 Inventories ./. advance payments received +/- accounts receivable/ trade payables +/- Working capital = Personnal expenses € million 352.3 291.7 20.8 accounts receivable/payable to investments/associates +/- notes receivable/notes payable Society * including trainees PUBLIC/INVESTOR RELATIONS Tel.: (05247) 12-1743 Fax: (05247) 12-1751 E-mail: [email protected] NET SALES ������������� This annual report is available 2000 in German and English. Both ��� ��� ��� ��� ����� ����� ����� ����� ����� ����� versions may be downloaded on ����� ���� 1500 the Internet AT www.claas.com ���� ���� ���� ����� ���� ���� ���� CONCEPT & DESIGN ���� 1000 ���� ���� ���� ���� ���� Kirchhoff Consult AG ���� ���� ���� ��� ���� Hamburg, Germany ���� 500 ���� ���� ��� ��� ��� ��� ��� ��� �� �� �� �� 0 ���������������������� ����������������������� ��������������������������������� � ��� ANNUAL REPORT 2003 KEY DATA FOR THE GROUP ACCORDING TO US GAAP DEFINITIONS CONTACT Income before taxes Return on sales = CLAAS KGaA mbH 2003 2002 Change % Net sales P.O. Box 1163 PROFIT AND LOSS ACCOUNT Net income + taxes on income + minority interest -/+ income from changes EBIT = Münsterstrasse 33 in accounting principles + interest expense + profit transferred under a partial profit transfer D-33426 Harsewinkel Net Sales € million 1,496.3 1,265.5 18.2 agreement (CMG) + remuneration participating certificates Germany EBIT € million 53.2 84.0 (36.7) EBITDA = EBIT + depreciation of tangible assets + amortization of intangible assets EBITDA € million 90.9 111.9 (18.8) www.claas.com Net income ANNUAL REPORT 2003 Return on equity = Net income € million 17.9 32.5 (44.9) Equity Additional copies of this report Income before taxes € million 22.6 55.8 (59.5) and further information about EBIT Return on total capital employed = Cash flow € million 58.1 67.4 (13.8) Balance sheet total CLAAS are available free of charge on request. R&D expenses € million 67.2 63.0 6.7 Net income + depreciation of tangible assets + amortization of intangible assets +/- Cash flow according to DVFA/SG = changes of pension provisions and other long-term provisions +/- other expenses/ income without cash flow impact BALANCE SHEET Equity Equity € million 292,5 292.2 0.1 Equity ratio = Balance sheet total Capital expenditure € million 54.2 54.3 (0.2) Liquidity together Balance sheet total € million 1,412.8 1,019.6 38.6 First-degree liquidity = Customers Short-term liabilities Partners Equity + funds similar to equity + long-term liabilities Equity to fixed assets ratio = Investors EMPLOYEES Fixed assets Employees Employees as at the balance sheet date* 8,391 6,114 37.2 Inventories ./. advance payments received +/- accounts receivable/ trade payables +/- Working capital = Personnal expenses € million 352.3 291.7 20.8 accounts receivable/payable to investments/associates +/- notes receivable/notes payable Society * including trainees PUBLIC/INVESTOR RELATIONS Tel.: (05247) 12-1743 Fax: (05247) 12-1751 E-mail: [email protected] NET SALES ������������� This annual report is available 2000 in German and English. Both ��� ��� ��� ��� ����� ����� ����� ����� ����� ����� versions may be downloaded on ����� ���� 1500 the Internet AT www.claas.com ���� ���� ���� ����� ���� ���� ���� CONCEPT & DESIGN ���� 1000 ���� ���� ���� ���� ���� Kirchhoff Consult AG ���� ���� ���� ��� ���� Hamburg, Germany ���� 500 ���� ���� ��� ��� ��� ��� ��� ��� �� �� �� �� 0 ���������������������� ����������������������� ��������������������������������� � ��� PRODUCT OVERVIEW CLAAS AGRICULTURAL ENGINEERING PRODUCTION ENGINEERING INDUSTRIAL ENGINEERING in brief Combine harvesters, forage harvesters, Development and production of com- System supplier for drive technology Founded in 1913, today the company is the fourth largest manufacturer square balers, round balers and con- plete production lines for the auto- and hydraulics of agricultural machinery in the world, covering the entire processing ventional high-density balers, as well as motive and aircraft industries around Axles and gears for agricultural and chain of agricultural engineering. green harvest machinery, system carrier the world construction machinery, as well as vehicles and agricultural information commercial vehicles In Europe we are the undisputed market leader for combine harvesters, technology and worldwide we are number 1 for self-propelled forage harvesters. New: the range of products has been expanded to include tractors In four German locations and five plants abroad, we produce local pro- ducts globally for all countries of the world. COMBINE HARVESTERS TRACTORS Currently more than 8,000 employees work for CLAAS Group worldwide. FORAGE HARVESTERS TELESCOPIC LOADERS SPECIAL PRODUCTS 50 years of modern As the first »MidCap«- CLAAS combine harvesters. company, within the frame- In order to build a CLAAS introduced a work of the Traditional plant, CLAAS signs an self-propelled combine Private Placement, CLAAS Opening of the modernized investment agreement harvester »Hercules« issued bonds in the amount and a more flexibly designed with the Russian to the grain harvest for GREEN HARVEST MACHINERY of US-$ 200 million. plant in Bad Saulgau. region Krasnodar. the first time in 1953. OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER Highlights 02/03 BALERS PRODUCTION ENGINEERING/ INDUSTRIAL ENGINEERING CLAAS presented the CLAAS Fertigungstechnik, CLAAS expands its pro- More power and more Introduction of latest agricultural machi- a subsidiary company of the duct range with tractors efficiency in new design tractors under the nery to 15.000 visitors CLAAS Group specialising in through the acquisition – that´s the new CLAAS name and at a four-week-long complex industrial facilities, of a majority stake in LEXION 500 series. in CLAAS design. »World CLAAS Forum« has taken over a majority RENAULT Agriculture in the North of France. stake in Brötje Automation. PRODUCT OVERVIEW CLAAS AGRICULTURAL ENGINEERING PRODUCTION ENGINEERING INDUSTRIAL ENGINEERING in brief Combine harvesters, forage harvesters, Development and production of com- System supplier for drive technology Founded in 1913, today the company is the fourth largest manufacturer square balers, round balers and con- plete production lines for the auto- and hydraulics of agricultural machinery in the world, covering the entire processing ventional high-density balers, as well as motive and aircraft industries around Axles and gears for agricultural and chain of agricultural engineering. green harvest machinery, system carrier the world construction machinery, as well as vehicles and agricultural information commercial vehicles In Europe we are the undisputed market leader for combine harvesters, technology and worldwide we are number 1 for self-propelled forage harvesters. New: the range of products has been expanded to include tractors In four German locations and five plants abroad, we produce local pro- ducts globally for all countries of the world. COMBINE HARVESTERS TRACTORS Currently more than 8,000 employees work for CLAAS Group worldwide. FORAGE HARVESTERS TELESCOPIC LOADERS SPECIAL PRODUCTS 50 years of modern As the first »MidCap«- CLAAS combine harvesters. company, within the frame- In order to build a CLAAS introduced a work of the Traditional plant, CLAAS signs an self-propelled combine Private Placement, CLAAS Opening of the modernized investment agreement harvester »Hercules« issued bonds in the amount and a more flexibly designed with the Russian to the grain harvest for GREEN HARVEST MACHINERY of US-$ 200 million. plant in Bad Saulgau. region Krasnodar. the first time in 1953. OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER Highlights 02/03 BALERS PRODUCTION ENGINEERING/ INDUSTRIAL