DOCSLIB.ORG

View Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

Mobility Redefined Annual Report 2016 Continental, with sales of €40.5 billion in 2016, is one of the world’s leading automotive suppliers. In our five divisions – Chassis & Safety, Interior, Powertrain, Tires and ContiTech – we develop intelligent technologies as well as products and services for transporting people and their goods. Over 220,000 employees are hard at work every day at more than 400 locations in 56 countries. 2016 Highlights > Key Figures > Overview of the Corporation > 2016 Highlights › Sales up to €40.5 billion › Net indebtedness drops below €3 billion › Dividend set to increase by €0.50 to €4.25 Key Figures for the Continental Corporation € millions 2016 2015 in % Sales 40,549.5 39,232.0 3.4 EBITDA 6,057.4 6,001.4 0.9 in % of sales 14.9 15.3 EBIT 4,095.8 4,115.6 –0.5 in % of sales 10.1 10.5 Net income attributable to the shareholders of the parent 2,802.5 2,727.4 2.8 Earnings per share in € 14.01 13.64 2.8 Adjusted sales1 40,261.7 39,232.0 2.6 Adjusted operating result (adjusted EBIT)2 4,341.2 4,369.0 –0.6 in % of adjusted sales 10.8 11.1 Free cash flow 1,771.3 1,443.6 22.7 Net indebtedness 2,797.8 3,541.9 –21.0 Gearing ratio in % 19.0 26.8 Total equity 14,734.8 13,213.9 11.5 Equity ratio in % 40.7 40.2 Number of employees as at December 313 220,137 207.899 5.9 Dividend per share in € 4.254 3.75 13.3 Share price at year end5 in € 183.70 224.55 –18.2 Share price at year high5 in € 220.10 234.25 Share price at year low5 in € 158.20 166.60 1 Before changes in the scope of consolidation. 2 Before amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and special effects. 3 Excluding trainees. 4 Subject to the approval of the Annual Shareholders’ Meeting on April 28, 2017. 5 Price quotations of the Continental share in the XETRA system of Deutsche Börse AG. Overview of the Corporation and Key Figures Structure of the Continental Corporation Continental Corporation Sales: €40.5 billion; Employees: 220,137 Automotive Group Rubber Group Sales: €24.5 billion; Employees: 124,753 Sales: €16.1 billion; Employees: 94,966 Chassis & Safety Powertrain Interior Tires ContiTech Sales: €9.0 billion Sales: €7.3 billion Sales: €8.3 billion Sales: €10.7 billion Sales: €5.5 billion Employees: 43,907 Employees: 37,502 Employees: 43,344 Employees: 52,057 Employees: 42,909 › Vehicle Dynamics › Engine Systems › Instrumentation & › Passenger and Light › Air Spring Systems Driver HMI Truck Tire Original Hydraulic Brake Fuel & Exhaust Benecke-Kaliko Group › › Equipment › Systems Management Infotainment & › Compounding Connectivity Passenger and Light › Passive Safety & Hybrid Electric Vehicle › Technology › › Truck Tire Replace- Sensorics Intelligent Transpor- Sensors & Actuators › ment Business, EMEA Conveyor Belt Group › tation Systems › Advanced Driver › › Transmission Passenger and Light › Elastomer Coatings Assistance Systems › Body & Security › Truck Tire Replace- Industrial Fluid Commercial Vehicles › › ment Business, The Solutions1 & Aftermarket Americas › Mobile Fluid Systems › Passenger and Light Truck Tire Replace- › Power Transmission ment Business, APAC Group › Commercial Vehicle › Vibration Control Tires › Two-Wheel Tires 1 Renamed from Industrial Fluid Systems in January 2017. Key figures for the core business areas Automotive Group Rubber Group € millions 2016 2015 in % 2016 2015 in % Sales 24,496.4 23,574.5 3.9 16,097.6 15,704.6 2.5 EBITDA 2,615.0 2,973.2 –12.0 3,559.6 3,181.5 11.9 in % of sales 10.7 12.6 22.1 20.3 EBIT 1,526.6 2,014.4 –24.2 2,688.6 2,255.8 19.2 in % of sales 6.2 8.5 16.7 14.4 Adjusted sales1 24,379.9 23,574.5 3.4 15,926.3 15,704.6 1.4 Adjusted operating result (adjusted EBIT)2 1,632.2 2,038.4 –19.9 2,828.4 2,485.2 13.8 in % of adjusted sales 6.7 8.6 17.8 15.8 1 Before changes in the scope of consolidation. 2 Before amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and special effects. The automotive industry is redefining mobility: zero accidents, clean air and full interconnectivity. The required solutions are new technologies, servitization and mobility services in the form of purely software-based applications. Find out more in our digital magazine. Available for free in app stores. Continental AG > Annual Report 2016 > Contents Contents To Our Shareholders Management Report C3 Key Figures for the Continental Corporation 34 Management Report C4 Overview of the Corporation and Key Figures 4 Chairman’s Letter 35 Glossary of Financial Terms 6 Members of the Executive Board 37 Corporate Profile 8 Continental Shares and Bonds 37 Structure of the Corporation 40 Corporate Strategy 14 Corporate Governance 44 Divisions and Business Units 14 Report of the Supervisory Board 44 Chassis & Safety Division 18 Corporate Governance Report and 46 Powertrain Division Declaration Pursuant to Section 289a of 48 Interior Division the German Commercial Code (HGB) 50 Tire Division 22 Compliance 52 ContiTech Division 23 Remuneration Report 54 Corporate Management 57 Research and Development 60 Sustainability 61 Employees 65 Environment 68 Social Responsibility 70 Economic Report 70 General Conditions 70 Macroeconomic Development 71 Development of Key Customer Sectors 74 Development of Raw Materials Markets 76 Earnings, Financial and Net Assets Position 77 Earnings Position 83 Financial Position 85 Net Assets Position 89 Automotive Group 90 Development of the Chassis & Safety Division 92 Development of the Powertrain Division 94 Development of the Interior Division 97 Rubber Group 98 Development of the Tire Division 101 Development of the ContiTech Division Continental AG > Annual Report 2016 > Contents > Consolidated Financial Statements 104 Continental AG 126 Statement of the Executive Board Short Version in acc. with HGB 127 Independent Auditor’s Report 128 Consolidated Statement of Income 107 Other Information 129 Consolidated Statement of Comprehensive Income 107 Dependent Company Report 130 Consolidated Statement of Financial Position 107 Takeover Disclosures and Notes 132 Consolidated Statement of Cash Flows 107 Report Pursuant to Section 289 (4) 133 Consolidated Statement of Changes in Equity and Section 315 (4) HGB 108 Remuneration of the Executive Board 134 Notes to the Consolidated Financial Statements 109 Corporate Governance Declaration Pursuant 134 Segment Reporting to Section 289a HGB 140 General Information and Accounting Principles 148 New Accounting Pronouncements 110 Report on Risks and Opportunities 155 Companies Consolidated and Information 110 Risk and Opportunity Management on Subsidiaries and Investments and Internal Control System 156 Acquisition and Disposal of Companies and 112 Material Risks Business Operations 112 Financial Risks 158 Notes to the Consolidated Statement of Income 113 Risks Related to the Markets in which 163 Notes to the Consolidated Statement Continental Operates of Financial Position 114 Risks Related to Continental’s Business 203 Other Disclosures Operations 116 Legal and Environmental Risks 118 Material Opportunities 119 Statement on Overall Risk Further Information and Opportunities Situation 120 Report on Expected Developments 212 Responsibility Statement by the Company’s 120 Future General Conditions Legal Representatives 120 Forecast of Macroeconomic Development 213 Members of the Executive Board and 121 Forecast for Key Customer Sectors their Directorships 122 Outlook for the Continental Corporation 214 Members of the Supervisory Board and their Directorships 216 Ten-Year Review – Corporation 218 Financial Calendar 219 Publication Details 4 Continental AG Annual Report 2016 To Our Shareholders Chairman’s Letter Chairman’s Letter Mobility and our industries are currently changing faster than ever before, which means there has rarely been a more exciting and promising time for Continental to shape the future of these areas. By investing in us, you are investing in our pioneering technologies. I would like to thank you for doing so on behalf of our global team, as well as on behalf of millions of people. After all, with your investment, you are fostering our solutions and helping to protect millions of road users around the world from accidents and their consequences. Moreover, you are also contributing to cleaner air, while paving the way for intelligent, convenient, and connected driving. Backed by your support, we are designing mobility to be sustainable, thus creating immense value. In 2016, our pioneering technologies enabled us to continue our streak of successful business years. Our net income was just above the previous year’s level, even though several isolated events impacted our earnings. We are working hard to ensure that this does not happen again. We will be continuing our profitable growth in 2017. Today, you can find our technologies in three out of four vehicles, where they play a crucial role. Take, for example, advanced driver assistance systems with their sensory technology and software. These systems are our fastest- growing product area. In just a few years, we have increased their sales from zero to approximately €1.2 billion, and we expect that figure to exceed €2 billion in 2020. And that’s not all. In addition, we provide solutions for connected mobility. In the future, vehicles will communicate not only more directly with their drivers, but also more intensively with each other and with the infrastructure. They will warn one another of dangers and tell each other about alternative routes. We are providing hardware and software for this digital exchange of data and information. In doing so, your Continental is becoming one of the leading technology and service companies. Think about it.
Recommended publications
  • Visvesvaraya Technological University Belgaum, Karnataka-590018

    Visvesvaraya Technological University Belgaum, Karnataka-590018

    Visvesvaraya Technological University Belgaum, Karnataka-590018 PROJECT REPORT [10AU85] ON “APPLICATION OF COBOTS IN AUTOMOTIVE ASSEMBLY LINE” Submitted In partial fulfillment of the requirement for the award of the Degree of BACHELOR OF ENGINEERING IN AUTOMOBILE ENGINEERING By PRAFULLA V (1NH13AU046) BALU KRISHNAKUMAR MENON (1NH14AU007) Under The Guidance of Mrs. SMITHA B. S. Assistant Professor Department of Automobile Engineering, NHCE 2017-2018 NEW HORIZON COLLEGE OF ENGINEERING (Autonomous college Permanently Affiliated to VTU Approved by AICTE) Accredited by NAAC with ‘A’ Grade DEPARTMENT OF AUTOMOBILE ENGINEERING CERTIFICATE This is to certify that the Project Report [10AU85] on APPLICATION OF COBOTS IN AUTOMOTIVE ASSEMBLY LINE is bonafide work carried out by PRAFULLA V (1NH13AU046) BALU KRISHNAKUMAR MENON (1NH14AU007) In partial fulfillment for the award of degree of Bachelor of Engineering in Automobile Engineering of the Visvesvaraya Technological University, Belgaum during the year 2017-2018. It is certified that all corrections/suggestions indicated for Internal assessment have been incorporated in the report deposited in the departmental Library. The project report has been as it is satisfying the academic requirements in respect of project report prescribed for the Bachelor of Engineering Degree. Signature of Internal Guide Signature of HOD Signature of Principal External Viva Name of the Examiners Signature with Date 1 2 ACKNOWLEDGEMENT The satisfaction that accompanies the successful completion of any work would be incomplete without the mention of people who made it possible and whose constant encouragement and guidance has been a source of inspiration through the course of completion of this project. We wish to thank the Almighty for all the blessings we have received.
  • Templeton Eafe Developed Markets Fund

    Templeton Eafe Developed Markets Fund

    TEMPLETON EAFE As at September 30, 2020 DEVELOPED MARKETS FUND Summary of Investment Portfolio REGIONAL WEIGHTINGS (%)* ASSET CLASS WEIGHTINGS (%) Europe 49.97 Common Stocks 91.84 Asia 41.87 Short-term securities and all other assets, net 8.16 INDUSTRY WEIGHTINGS (%)* TOP 25 HOLDINGS (%) Pharmaceuticals 10.94 Cash and cash equivalents** 5.79 Electronic Equipment, Instruments & Components 5.49 Deutsche Telekom AG 3.39 Multi-Utilities 5.30 Takeda Pharmaceutical Co. Ltd. 3.11 Real Estate Management & Development 5.05 E.ON SE 2.95 Chemicals 4.71 Hitachi Ltd. 2.93 Food & Staples Retailing 4.23 Fresenius Medical Care AG & Co. KGaA 2.83 Banks 4.18 BAE Systems PLC 2.80 Automobiles 4.09 AIA Group Ltd. 2.72 Semiconductors & Semiconductor Equipment 3.99 Bayer AG 2.63 Diversified Telecommunication Services 3.47 Kyocera Corp. 2.55 Oil, Gas & Consumable Fuels 2.96 Sumitomo Metal Mining Co. Ltd. 2.48 Health Care Providers & Services 2.83 Honda Motor Co. Ltd. 2.41 Aerospace & Defense 2.80 Sony Corp. 2.37 Textiles, Apparel & Luxury Goods 2.74 Covestro AG 2.36 Insurance 2.72 NXP Semiconductors NV 2.36 Machinery 2.60 Veolia Environnement SA 2.35 Metals & Mining 2.48 Matsumotokiyoshi Holdings Co. Ltd. 2.22 Wireless Telecommunication Services 2.44 Komatsu Ltd. 2.18 Industrial Conglomerates 2.38 Mitsui Fudosan Co. Ltd. 2.13 Household Durables 2.37 Roche Holding AG 2.08 Electrical Equipment 1.80 Sanofi 2.05 Construction & Engineering 1.59 Seven & i Holdings Co. Ltd. 2.01 Construction Materials 1.57 Sumitomo Mitsui Financial Group Inc.
  • Continental Annual Report 2020

    Continental Annual Report 2020

    150 Years of Continental 2020 Annual Report Continental Group 2020 › Sales at €37.7 billion › Free cash flow at €879 million › Equity ratio at 31.9% Key Figures € millions 2020 2019 ∆ in % Sales 37,722.3 44,478.4 –15.2 EBITDA 3,033.8 4,977.2 –39.0 in % of sales 8.0 11.2 EBIT –718.1 –268.3 –167.6 in % of sales –1.9 –0.6 Net income attributable to the shareholders of the parent –961.9 –1,225.0 21.5 Basic earnings per share in € –4.81 –6.13 21.5 Diluted earnings per share in € –4.81 –6.13 21.5 Adjusted sales1 37,573.9 44,214.2 –15.0 Adjusted operating result (adjusted EBIT)2 1,332.7 3,225.5 –58.7 in % of adjusted sales 3.5 7.3 Free cash flow 878.7 761.7 15.4 Net indebtedness 4,139.1 4,071.7 1.7 Gearing ratio in % 32.7 25.6 Total equity 12,639.1 15,875.7 –20.4 Equity ratio in % 31.9 37.3 Number of employees as at December 313 236,386 241,458 –2.1 Dividend per share in € —4 3.00 Share price at year end5 in € 121.25 115.26 5.2 Share price at year high5 in € 126.50 157.40 Share price at year low5 in € 51.45 103.62 1 Before changes in the scope of consolidation. 2 Before amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and special effects.
  • Annual Report 2004

    Annual Report 2004

    04 Bringing growth into focus. Annual Report 2004. 04 a successful year for Continental. 2 2 Continental Corporation in € millions 2004 2003 2002 2001 2000 Sales 12,597.4 11,534.4 11,408.3 11,233.3 10,115.0 EBITA¹ 1,096.4 855.2 694.3 32.8 533.0 Consolidated net income/loss for the year 673.8 314.0 226.0 - 257.6 204.7 Dividends 116.3² 70.4 58.6 – 64.1 Cash flow 1,443.8 985.9 919.0 666.5 866.3 Capital expenditure on property, plant, and equipment 672.4 583.5 581.2 704.9 682.8 Amortization and depreciation³ 665.7 603.1 670.3 891.3 654.7 Shareholders’ equity 2,842.3 1,983.2 1,715.2 1,546.7 1,844.1 Equity ratio in % 29.4 23.9 20.9 17.2 24.2 Employees at the end of the year 4 80,586 68,829 64,379 65,293 63,832 Share price (high) in € 47.26 30.98 19.53 19.45 20.94 Share price (low) in € 28.87 12.04 11.72 9.68 15.85 ¹ Earnings before interest, taxes and regular goodwill amortization ² Subject to the approval of the Annual Shareholders’ Meeting on May 12, 2005 ³ Excluding write-downs of investments 4 Excluding trainees Continental Divisions Sales in € millions 2004 2003 Automotive Systems 5,007.7 4,625.7 Passenger and Light Truck Tires 4,104.2 3,907.2 Commercial Vehicle Tires 1,500.7 1,261.6 ContiTech 2,063.4 1,812.2 EBIT in € millions 2004 2003 Automotive Systems 487.5 369.5 Passenger and Light Truck Tires 383.4 345.8 Commercial Vehicle Tires 100.3 82.4 ContiTech 150.4 144.0 Bringing growth into focus.
  • Annual Report 2008 We

    Annual Report 2008 We

    Annual Report 2008 We. Annual Report 2008 Continental Corporation in € millions 2008 2007 Δ in % Sales 24,238.7 16,619.4 45.8 EBITDA 2,771.4 2,490.6 11.3 in % of sales 11.4 15.0 EBIT before amortization of intangible assets from PPA 210.0 1,737.2 -87.9 in % of sales 0.9 10.5 EBIT -296.2 1,675.8 -117.7 in % of sales -1.2 10.1 Net income attributable to the shareholders of the parent -1,123.5 1,020.6 -210.1 Earnings per share (in €) -6.84 6.79 EBIT before amortization of intangible assets from PPA and before depreciation of tangible assets from PPA (only Siemens VDO) 320.3 1,737.2 -81.6 in % of sales 1.3 10.5 Adjusted1 EBIT before amortization of intangible assets from PPA and before depreciation of tangible assets from PPA (only Siemens VDO) 1,837.3 1,841.5 -0.2 in % of sales 7.6 11.1 Free cash flow 628.5 -10,625.6 105.9 Net indebtedness 10,483.5 10,856.4 -3.4 Gearing ratio in % 189.6 158.3 Total equity 5,529.9 6,856.1 -19.3 Equity ratio in % 22.4 24.7 Number of employees at the end of the year2 139,155 151,654 -8.2 Dividend in € — 2.00 Share price (high) in € 86.62 109.07 Share price (low) in € 27.00 84.19 1 Before special effects. 2 Excluding trainees. Continental’s Core Business Areas Automotive Group in € millions 2008 2007 Δ in % Sales 14,900.0 7,295.9 104.2 EBITDA 1,428.8 903.7 58.1 in % of sales 9.6 12.4 EBIT -1,205.8 504.3 -339.1 in % of sales - 8.1 6.9 Adjusted1 EBIT before amortization of intangible assets from PPA and before depreciation of tangible assets from PPA (only Siemens VDO) 908.9 654.5 38.9 in % of sales 6.1 9.0 1 Before special effects.
  • Eurozone 120, Euronext Vigeo US 50, Euronext Vigeo France 20, Euronext Vigeo United Kingdom 20 and Euronext Vigeo Benelux 20, Will Be Updated Every Six Months

    Eurozone 120, Euronext Vigeo US 50, Euronext Vigeo France 20, Euronext Vigeo United Kingdom 20 and Euronext Vigeo Benelux 20, Will Be Updated Every Six Months

    Vigeo Eiris’ indices are composed of the highest-ranking listed companies as evaluated by the agency in terms of their performance in corporate responsibility. This range of indices: Euronext Vigeo World 120, Euronext Vigeo Europe 120, Euronext Vigeo Eurozone 120, Euronext Vigeo US 50, Euronext Vigeo France 20, Euronext Vigeo United Kingdom 20 and Euronext Vigeo Benelux 20, will be updated every six months. Constituent selection is based on data from the Equitics® methodology, developed by Vigeo. Selected companies have achieved the highest ratings in their reference universe. INDEX FEATURES Number of Constituents 120 Index Type Price Index Eligible Stock All the companies included in the related Vigeo Euronext Universe The weighting of each component at the review date reflects the Equitics® score of the Weighting company divided by the total sum of the scores of all components Review Semi-Annually ( June and December) New constituents – November 2016 Eurozone 120: the 4 most A2A Electric & Gas Utilities ABN-AMRO Hldg Diversified Banks represented sectors Carrefour Supermarkets Covestro AG Chemicals Enagas Electric & Gas Utilities 13% Fortum Electric & Gas Utilities Electric & Gas Utilities Groupe Casino Supermarkets 9% Chemicals HEIDELBERG CEMENT AG Building Materials Jerónimo Martins Supermarkets Diversified Publicis Groupe Broadcasting & Advertising 9% Banks Snam Electric & Gas Utilities Insurance 5% WARTSILA Industrial Goods & Services Other Information on performance Average overall score 55/100 Lowest global score 46/100 Highest
  • Thomas Bürkle Chair of the Managing Board

    Thomas Bürkle Chair of the Managing Board

    CV Thomas Bürkle Chair of the Managing Board NORD/LB Norddeutsche Landesbank – Girozentrale – Thomas Stephan Bürkle, born in 1953 in Freiburg/Breisgau, has been Chair of the Managing Board of Norddeutsche Landesbank (NORD/LB) in Hanover since 1 January 2017. He is responsible for Corporate Development, Legal Department and Office of the Managing Board, Group organisation/HR, auditing, structured finance and aviation finance & investment solutions. He is also responsible for UK relationships with the London branch. Bürkle was first appointed to the Managing Board of NORD/LB on 1 January 2014. At this time, he assumed the role of Chief Risk Officer for the credit risk management, finance and risk controlling, special credit management and research/economics segments. Before this, he was already a part of the NORD/LB Group as Chair of the Managing Board of Deutsche Hypothekenbank in Hanover between July 2012 and December 2013. Bürkle laid the foundations for his professional career with a degree in economics in Berlin, which included a study placement at the University of Pennsylvania in Philadelphia, USA. He has continued to expand his career as a manager of national and international companies in the banking and finance sector since the 1980s. He has worked in Europe, America and Asia. Education and professional career since 2017 Group CEO of NORD/LB Hanover, among numerous group mandates, also Chairman of the Supervisory Board of Norddeutsche Landesbank Luxembourg S.A. Covered Bond Bank 2014 – 2016 Group CRO of NORD/LB Hanover Responsibility: Risk Management 2012 – 2013 CEO of Deutsche Hypothekenbank, Hanover 2011 – 2012 Managing Director and Project Lead at NORD/LB, Hanover 2009 – 2011 Group CEO of DnB NORD A.S., Copenhagen, subsidiaries in Lithuania, Latvia, Estonia, Poland 2006 – 2009 General Manager and Regional Head of Americas for NORD/LB in New York, USA, Commercial Real Estate, Structured Finance, Asset Based Financing 2002 – 2005 CEO of AB Banks NORD/LB Lithuania 1998 – 2002 Member of the Managing Board of Zivnostenska banka a.s.
  • Euro Stoxx® International Exposure Index

    Euro Stoxx® International Exposure Index

    EURO STOXX® INTERNATIONAL EXPOSURE INDEX Components1 Company Supersector Country Weight (%) ASML HLDG Technology Netherlands 6.02 LVMH MOET HENNESSY Consumer Products & Services France 4.99 LINDE Chemicals Germany 3.79 SAP Technology Germany 3.62 SANOFI Health Care France 3.20 IBERDROLA Utilities Spain 3.04 SIEMENS Industrial Goods & Services Germany 2.63 AIR LIQUIDE Chemicals France 2.17 SCHNEIDER ELECTRIC Industrial Goods & Services France 2.10 L'OREAL Consumer Products & Services France 2.05 ANHEUSER-BUSCH INBEV Food, Beverage & Tobacco Belgium 1.99 BASF Chemicals Germany 1.89 ADIDAS Consumer Products & Services Germany 1.76 AIRBUS Industrial Goods & Services France 1.68 DAIMLER Automobiles & Parts Germany 1.65 BAYER Health Care Germany 1.61 PHILIPS Health Care Netherlands 1.51 ADYEN Industrial Goods & Services Netherlands 1.49 ESSILORLUXOTTICA Health Care France 1.40 DEUTSCHE TELEKOM Telecommunications Germany 1.36 INFINEON TECHNOLOGIES Technology Germany 1.35 Kering Retail France 1.35 BCO SANTANDER Banks Spain 1.29 SAFRAN Industrial Goods & Services France 1.26 HERMES INTERNATIONAL Consumer Products & Services France 1.10 PERNOD RICARD Food, Beverage & Tobacco France 1.09 CRH Construction & Materials Ireland 1.09 DEUTSCHE POST Industrial Goods & Services Germany 1.05 BCO BILBAO VIZCAYA ARGENTARIA Banks Spain 1.03 FLUTTER ENTERTAINMENT Travel & Leisure Ireland 1.02 DANONE Food, Beverage & Tobacco France 1.00 MUENCHENER RUECK Insurance Germany 0.99 VOLKSWAGEN PREF Automobiles & Parts Germany 0.82 BMW Automobiles & Parts Germany 0.80
  • Bayer AG Financial Statements 2015 2 Bayer AG Financial Statements 2015 Contents

    Bayer AG Financial Statements 2015 2 Bayer AG Financial Statements 2015 Contents

    Bayer AG Financial Statements 2015 2 Bayer AG Financial Statements 2015 Contents The management report of Bayer AG is combined with the management report of the Bayer Group. The Combined Management Report is published in Bayer’s Annual Report for 2015. The financial statements and the Combined Management Report of the Bayer Group and Bayer AG for fiscal 2015 have been submitted to the operator of the electronic Federal Gazette in Germany and are accessible via the Company Register website. Contents FINANCIAL STATEMENTS Income Statements 3 Statements of Financial Position 4 Notes to the Financial Statements 5 Accounting Policies 5 Recognition and Valuation Principles 5 Notes to the Income Statements 8 Notes to the Statements of Financial Position 13 Other Information 25 PROPOSAL FOR THE USE OF THE DISTRIBUTABLE PROFIT 47 RESPONSIBILITY STATEMENT 47 AUDITOR’S REPORT 48 FURTHER INFORMATION Governance Bodies 49 Financial Calendar, Masthead, Disclaimer 52 Bayer AG Financial Statements 2015 3 Income Statements Income Statements Note 2014 2015 € million € million Income from investments in affiliated companies – net [1] 3,213 2,444 Interest expense – net [2] (341) (484) Other financial income – net [3] 129 409 Other operating income [4] 128 99 General administration expenses (272) (324) Other operating expenses [5] (147) (177) Income before income taxes 2,710 1,967 Income taxes [6] (256) (606) Net income 2,454 1,361 Allocation to other retained earnings / Withdrawal from other retained earnings (593) 706 Distributable profit 1,861 2,067 4 Bayer
  • View Annual Report

    View Annual Report

    U7 Deutsche Telekom worldwide. Deutsche Telekom at a glance. U2 !"§======= Deutsche Telekom. Bonn (Deutsche Telekom Group Net revenue EBITDA* Headquarters) (billions of €) (billions of €) % Modern teams. of net revenue Country offices, regional offices Selected subsidiaries and The 2001 financial year. 50 and representative offices associated companies 48.3 America 40 20 60 20.7 Europe Europe USA – VoiceStream 40.9 The 2001 financial year. 35.5 18.1 Brussels Austria – T-Mobile Austria – T-Systems 30 34.5 35.1 15 17.2 17.4 50 Kiev – T-Online.at – T-Venture of America 14.5 London – T-Systems 20 10 40 Madrid Belgium – T-Systems Canada – T-Systems Milan Croatia – Hrvatske telekomunikacije 10 5 30 Moscow Czech – RadioMobil/T-Mobile South America Paris Republic – Pragonet Brazil – T-Systems 0 0 20 – T-Systems America Denmark – T-Systems Asia 1997 1998 1999 2000 2001 1997 1998 1999 2000 2001 New York France – T-Online France Hong Kong – T-Systems Washington – T-Systems Indonesia – Satelindo I EBITDA margin (% of net revenue)* Hungary – MATÁV Japan – T-Systems 49.8 49.6 41.0 50.6 37.4 Asia – Westel Malaysia – TRI/Celcom Beijing – T-Systems Philippines – Globe Telecom *Calculated on the basis of more precise million figures. Singapore Italy – T-Systems – T-Systems Tokyo Netherlands – BEN Singapore – T-Systems – T-Systems Net income/loss Net cash provided by operating activities Poland – PTC Middle East (billions of €) (billions of €) – T-Systems Israel – Barak I.T.C. Portugal – Terravista – VocalTec 6 Russia – MTS 5.9 – T-Systems Africa 4 12 13.5
  • Deutsche Hypothekenbank (Actien-Gesellschaft), “DEUTSCHE HYPO”

    Deutsche Hypothekenbank (Actien-Gesellschaft), “DEUTSCHE HYPO”

    Issuer Profile Data basis as of April 2019 Only for qualified, professional institutional investors – not for direct distribution into retail In a nutshell DEUTSCHE HYPO… • Is one of the oldest and most renowned Pfandbrief banks in Germany • Is the centre of competence for commercial real estate business in the NORD/LB Group • pooling of proven competence in one unit • German mortgage bank with European focus • presence in important German and foreign locations • Has a well-established capital market business • Is a renowned issuance house • responsible for the issuance of Mortgage Pfandbriefe in the NORD/LB Group • sound funding from many years of experience • Has its own independent market approach in its business activities • Has the German Pfandbrief Act as the basis for its business model • Is part of the Savings Banks’ Guarantee System 2 Owner structure and business segments DEUTSCHE HYPO is the centre of competence for commercial real estate business in the NORD/LB Group. This makes DEUTSCHE HYPO the major issuer of Mortgage Pfandbriefe and an important value driver of the Group. A control and profit and loss transfer agreement has been signed to ensure a closer connection of DEUTSCHE HYPO to the NORD/LB Group. Furthermore the “simplification options” in accordance with Section 2a KWG (old version, so-called “waiver rule”) apply. NORD/LB has granted a letter of comfort (Patronatserklärung) in favour of DEUTSCHE HYPO (Cf. pg. 258 of NORD/LB’s Group Annual Report 2018). NORD/LB Group Private and Corporate Customers Energy and Ship and Aircraft Real Estate Banking Commercial & Markets Infrastructure Customers (until Customers Customers Customers further notice) .
  • 2019 Spring Attendee List

    2019 Spring Attendee List

    2019 Spring Attendee List Allison Pauline 3M Clemens Tim 3M Koch Joseph 3M Selph Gary 3M - Industrial Adhesives and Tapes Division Fan Wayne 3M Company Albrecht Steve Adherent Laboratories, Inc. Meyer Paul Adherent Laboratories, Inc. Allmond Bill Adhesive and Sealant Council Armstrong Malinda Adhesive and Sealant Council Collatz Mark Adhesive and Sealant Council Duren Steve Adhesive and Sealant Council Howe Connie Adhesive and Sealant Council Mikharava Val Adhesive and Sealant Council Mittelstaedt Martha Adhesive and Sealant Council Nickoloff Myranda Adhesive and Sealant Council Shattuck Tim Adhesive Products, Inc. Shattuck Paul Adhesive Products, Inc. Vinuya Jeff Adhesive Products, Inc. Andrade Andrew Advanced Polymer, Inc. Mulcahy Christopher Advanced Polymer, Inc. Zhang Xiawei AdvanSix Nomuva Sadayuki AGC Chemicals Scott Jim AGC Chemicals Americas, Inc. Ushio Takaaki AGC Inc. Jeffries Gary Akrochem Corporation KING MARCIA Alberdingk Boley USA Vyas Ujjval Alberti Group, LLC Reynolds Robert Albion Engineering Company Schneider Mark Albion Engineering Company Slowinski Gene Alliance Management Group, Inc. Hutchins Marcus Allnex, USA Owings Lamar ALVAR, Inc. Shaw Jack American Blockchain Council Erchul Alex Andpak Midwest Mayes Chris Andpak Midwest Jobbins Matthew Anton PAAR USA Feriancek John Applied Adhesives Horner Dan Applied Adhesives, Inc. Webb Brian APPLIED Products, Inc. Osborne Greg Applied Test Systems Natushara Eisuke Arakawa Chemical (USA) Inc. Quenaud Bryan Arakawa Chemical (USA) Inc. Shen Calvin Aramco Performance Materials Chesson Mark Aramco Performance Materials LLC Suddaby Brian ARDEX Americas Lu Lida ARDEX Americas (W.W. Henry) Arendt William Arendt Consulting Niznik Paul Argus DeWitt Rogachevsky Vitaly Argus Media, Inc. Fortener Christine Arkema Drewery Michael Arkema Coating Resins Dumain Eric Arkema Coating Resins Mattern David Arkema Coating Resins Miner Rick Arkema Coating Resins Shulack Pat Arkema Coating Resins Yocca Kevin Arkema Coating Resins Donnelly Zuzanna Arkema Inc.