Annual Report 2003

ANNUAL REPORT 2003	1
Content	2
A word from the Chairman of the Board	4
Company presentation	5
Board of directors	5
Supervisory board	8
Company highlights	9
Production programme and Certification	11
Sale in 2003	12
Report by the Board of directors	14
Business activities	14
production and sales	14
purchase of strategic raw materials and energy	16
fixed assets and technology management	16
Environmental policy	17
science and research	17
Human resources	18
Assets and financial management	22
assets and funds	22
main figures of the balance sheet	23
financial management	24
expenses, income and profit of 2003	25
main figures of the income statement	26
Events after december 2003	27
Subsidiaries	28
Business strategy	33
Conclusion	35
Information for Shareholders	36
Report of the Supervisory Board	37
Consolidated Financial Statements	38
Auditor`s report	39
Balance Sheet	40
Income Statement	43
Notes to Financial Statements	45
Basic Information on the Company	64
Contacts	64

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