拜耳集团Bayer AG (BAYZF) 2004年年度报告「OTC」.pdf

1、Science For A Better LifeAnnual Report Bayer Group20032004Change million in%Net sales28,56729,758+4.2EBITDA1)3,6164,130+14.2Operating result EBIT(1,119)1,808Income(loss)before income taxes(1,994)985Net income(loss)(1,361)603Gross cash flow2)2,8643,210+12.1Net cash flow3)3,2932,450 25.6Stockholderseq

2、uity12,21312,268+0.5Total assets37,44537,804+1.0Capital expenditures1,7391,275 26.7Employees at year end115,400113,000 2.1Personnel expenses7,9067,306 7.6Research and development expenses2,4042,107 12.4Bayer Group Key DataBayer AG20032004Changein%Total dividend payment in million 365402+10.1Dividend

3、 per share in 0.500.55+10.01)EBITDA=operating result(EBIT)plus depreciation and amortization2)Gross cash flow=operating result(EBIT)plus depreciation and amortization,minus income taxes,minus gains/plus losses on retirementsof noncurrent assets,plus/minus changes in pension provisions3)Net cash flow

4、=cash flow from operating activities according to IAS 7Bayer Annual Report 2004Bayer Group19951996199719981999 millionNet sales22,79324,85328,12428,06227,320Sales outside Germany80.5%82.2%83.9%83.6%84.3%Sales of foreign consolidated companies63.4%65.4%67.0%67.5%68.3%Operating result EBIT2,1022,3063,

5、0773,1553,357Income(loss)before income taxes2,1402,2822,6112,7282,836Income(loss)after taxes1,2381,4051,5091,6152,018Noncurrent assets9,43710,68912,23013,98115,614Intangible assets4887291,0511,9092,213Property,plant and equipment7,9668,97410,30710,97011,986Investments9839868721,1021,415Current asset

6、s13,21114,59315,46715,39615,665Inventories4,7625,1445,4245,7814,992Receivables5,7877,0287,5887,8947,533Liquid assets2,6622,4212,4551,7213,140Stockholdersequity9,10910,53112,00912,56815,006Capital stock of Bayer AG1,8031,8511,8671,8671,870Capital reserves and retained earnings6,0827,2878,6389,08711,1