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Daimler-Benz AG Stuttgart Annual Report 1985

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Daimler-Benz Highlights Daimler-Benz AG Stuttgart Annual Report 1985 Page Agenda for the Stockholders' Meeting 5 Members of the Supervisory Board and the Board of Management 8 Report of The Board of Management 11 Business Review 11 Outlook 29 100 Years of The Automobile 35 Research and Development 59 Materials Management 64 Production 67 Sales 71 Employment 77 Subsidiaries and Affiliated Companies 84 Report of the Supervisory Board 107 Financial Statements of Daimler-Benz AG 99 Notes to Financial Statements of Daimler-Benz AG 100 Proposal for the Allocation of Unappropriated Surplus 106 Balance Sheet as at December 31,1985 108 Statement of Income ForThe Year Ended December 31,1985 110 Consolidated Financial Statements 111 Notes to Consolidated Financial Statements 112 Consolidated Balance Sheet as of December 31,1985 122 Consolidated Statement of Income For The Year Ended December 31,1985 124 Tables and Graphs 125 Daimler-Benz Highlights 126 Sales and Production Data 129 Automobile Industry Trends in Leading Countries 130 3 for the 90th Stockholders' Meeting being held on Wednesday, July 2,1986 at 10:00 a.m. in the Hanns-Martin-Schleyer-Halle in Stuttgart-Bad Cannstatt, MercedesstraBe. 1. Presentation of the audited financial statements as of 3. Ratification of the Board of December 31,1985, the reports of the Board of Manage­ Management's Actions. ment and the Supervisory Board together with the con­ Board of Management and solidated financial statements and the consolidated annual Supervisory Board propose report for the year 1985. ratification. 2. Resolution for the Disposition of the Unappropriated 4. Ratification of the Supervi­ Surplus. sory Board's Actions. Board of Management and Super­ Board of Management and visory Board propose to distribute Supervisory Board propose ratification. 5. Election of Auditors for the Business Year 1986. The Supervisory Board pro­ poses to elect Deutsche Treuhand-Gesellschaft AG, Wirtschaftspruefungsgesell- schaft, Frankfurt am Main, as independent auditors for the business year 1986. 5 6. Resolution for the Redemp­ into account the approval of "(2) During the period from tion of Capital Stock. Paragraph 6 of the Agenda, now to June 30, 1991, the The Board of Management to read: Board of Management, with the Supervisory Board's ap­ and Supervisory Board pro­ "(1) The basic share capital of proval is authorized to in­ pose to purchase for re­ the company amounts to DM crease by DM 500,000,000, demption six common shares 1,941,364,800. It comprises: with a par value of DM 50 in in one amount or in partial amounts, the basic share a simplified proceeding al­ DM 1,939,168,800 common capital of the company lowed under Section 237, stock, viz. 1,877,000 shares through the issuance of new Sub-Section 3, Paragraph 1, of DM 1,000 each, 397,854 common stock against the of the Company Act, and to shares of DM 100 each, and receipt of cash payments. reduce the basic share capi­ 447,668 shares of DM 50 Coincident thereto, the stock­ tal by DM 300 in order to fa­ each, cilitate the capital increase holders are to be given a purchase right, excluding from company-generated DM 2,196,000 preferred stock, fractional amounts." funds in accordance with the viz. 2,193 shares of DM 1,000 allocation ratio outlined in each, 27 shares of DM 100 Apart from the resolution by Paragraph 7 of the Agenda. each, and 6 shares of DM 50 the shareholders at the an­ each." nual meeting, the common 7. Resolution for the Increase and preferred stockholders of Basic Share Capital from 8. Resolution for the Creation must additionally and sepa­ Company-Generated Funds of an Authorized Share rately vote on the resolutions. and for the Change in the Capital and Change of Bylaws. Bylaws. 9. Resolution for the Change The Board of Management The Board of Management of Section 2 of the Bylaws. and Supervisory Board pro­ and Supervisory Board pro­ The Board of Management pose to increase by pose that during the period and Supervisory Board pro­ DM 242,670,600 the basic from now to June 30, 1991, pose that Section 2 of the share capital on a one for the Board of Management, Bylaws be amended: seven basis, from with the Supervisory Board's DM 1,698,694,200 to "Section 2 - Business approval, be authorized to in­ Purpose DM 1,941,364,800 via the crease by DM 500,000,000, (1) The business purpose of conversion of unallocated re­ in one amount or in partial the company is the develop­ tained earnings into basic amounts, the basic share ment, manufacture and sale of: share capital based on the capital of the company December 31, 1985 balance through the issuance of new - land, water, air and space sheet through: common stock against the vehicles and of other techno­ distribution to common receipt of cash payments. logical products used for ve­ stockholders of Coincident thereto, the stock­ hicular, air, space and sea DM 242,396,100 of new holders are to be given a traffic; purchase right, excluding bearer stock certificates in - engines and other techno­ fractional amounts. The new denominations of DM 1,000 logical power trains; and DM 50, and shares are to be taken over by financial institutions which - plant, machinery and distribution to preferred are obliged to offer them to equipment for the manufac­ stockholders of DM 274,500 the stockholders. ture, transmission and usage of new, registered preferred of energy; shares in denominations of Section 3, Sub-Section 2, of DM 1,000 and DM 100 the Bylaws (basic capital), is - products related to the with dividend entitlement for newly amended to read as communication and informa­ both stock categories begin­ follows: tion technology; and ning with the 1986 business - other industrial products, year. Section 3, Sub-Section technical systems and pro­ 1, of the Bylaws (basic share cesses in the above-men­ tioned fields. 6 capital) is amended, taking The company may trade in 11 Election to Fill Supervisory Pursuant to Section 203 Sub- all kinds of raw materials, fac­ Board Vacancies. Section 2 Paragraph 2 in con­ tory supplies, semi-finished Dr. phil. Dr. rer. oec. h.c. Mar- nection with Section 186 Sub- and finished products and in kus Bierich, Stuttgart, Dr. rer. Section 4 Paragraph 2 of the goods which are related to pol. Friedrich Karl Flick, Düs- Company Act, we give, with re­ the business purpose of the seldorf and Dr. jur. Heribald spect to Paragraph 8 of the company's operations. The Naerger, Muenchen, have Agenda, the following company may render ser­ given notice that they wish vices within the framework of to resign their offices as Report to the Stockholders the above-mentioned activi­ members of the Supervisory at the Annual Meeting: ties. Board, effective July 2,1986. The remaining authorized share (2) The company may found The Supervisory Board pro­ capital, in the amount of and acquire other companies poses in their place DM 180,130,500 has not been whose business activities are used and is cancelled effective Dipl.-lng Hans-Georg Pohl, June 30,1986. related to those mentioned in Den Haag, Coordinator for Sub-Section 1; it may pur­ Europe of the Shell Interna­ The stockholders will also re­ chase an interest in such tional Petroleum Company, ceive a purchase right (Section companies and may fully or 186 Sub-Section 5 of the Com­ partially bring them under a Mr. Hermann Joseph pany Act) in connection with the unitary management." Strenger, Leverkusen, creation of the new authorized Chairman of the Board of share capital as proposed by 10. Resolution for the Change Management of Bayer AG, the Board of Management and of Section 13 of the Bylaws. and by the Supervisory Board. Ex­ The Board of Management Prof. Dr. Gerhard Tremer, cepted therefrom are fractional and Supervisory Board pro­ Graefelfing near Muenchen, shares which can no longer be pose to change Section 13 Deputy Chairman of the Su­ distributed to all shareholders. of the Bylaws as follows: pervisory Board of Merce- In the event that the authorized "Section 13. Supervisory des-Automobil-Holding AG, share capital is used, the Board Board Remuneration Member of the Board of of Management - with the Su­ Supervisory Board mem­ Management of Bayerische pervisory Board's approval - bers, in addition to the reim­ Landesbank Girozentrale, will stipulate the conditions for bursement of their expenses and elect them as members their issuance. It will take into - including a sales tax pay­ of the Supervisory Board re­ account the then prevailing able for the Board activities presenting stockholders, i.e. capital needs and market - receive a fixed fee paya­ for the remaining term of the conditions. ble after the end of the busi­ other Supervisory Board ness year amounting to DM members. 7,000 for each member. The Pursuant to Section 96 Sub- Chairman and Deputy Chair­ Section 1, Section 101 Sub- man receive respectively Section 1 of the Company four times and two times this Act, and Section 7 Sub-Sec­ amount. Furthermore, the tion 1 Paragraph 1 of the 3rd Supervisory Board receives Codetermination Act, the Su­ a remuneration in the pervisory Board consists of amount of .4% of that ten Board members elected amount by which the divi­ by the stockholders and ten dend paid to common stock­ Board members elected by holders exceeds 10% of the the employees. common share capital; the The stockholders' meeting is distribution of this remuner­ not bound by the election ation is decided upon by the proposals. Supervisory Board." 7 Hermann J. Abs, Frankfurt (Main) Honorary Chairman Honorary Chairman, Deutsche Bank AG Dr.
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