William Demant Holding website
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Management report

Signatures and
auditors' report

Accounting policies

Key figures and ratios

Profit and loss account

Balance sheet

Cash flow statement

Notes

Group companies

  
 

Balance sheet at 31 December 2004

     Accounting Policies 

PARENT COMPANY
Note
Assets (DKK - in thousands)    


GROUP  

2003
  		  2004
  		        2004
  		  2003
 
0   0     Patents and licences   16,325   6,477
0   0     Goodwill   42,628   7,144
0   0   6 Intangible assets 58,953
13,621
           
25,788   24,950     Land and buildings   333,451  167,058
0   0     Production plant and machinery   113,312   103,563
1,314   998  

Fixtures, tools and equipment   137,975    135,381
0   0  

Leasehold improvements   29,400    29,143
0   0  

Prepayments and plants under construction   6,426    3,694
27,102   25,948    7 Tangible fixed assets 620,564   438,839
           
792,182   1,215,026    8 Shares in subsidiary undertakings
-
   -
0   0    8 Shares in associated undertakings 3,828    2,174
 1,106   1,556    8 Securities and participating interests  2,038    1,720
 0    0    8 Debtors  68,099    33,202
 0    0    9 Deferred tax, asset  69,069   61,567

793,288

  1,216,582   Financial asset investments 143,034  

98,663

           
820,390   1,242,530     Total fixed assets   822,551   551,123
           
 0   0     Raw materials and purchased components    247,922    231,768
 0    0     Goods in progress    37,712    42,572
0   0     Finished goods   317,017   298,666
0   0     Inventories 602,651   573,006
 0    0     Trade debtors    756,981    643,787
 3,904    0     Intra-group debtors, subsidiary undertakings    -    -
20,503   0   4 Corporation tax 4,674   26,712
 373    0     Other debtors       59,472    55,228
 0    62     Non-realised gains on financial contracts    35,322    31,091
785   331   Prepayments and accrued expenses   31,276   25,881
25,565   393     Debtors 887,725   782,699
           
0   0     Liquid funds   126,434   108,144
           
25,565   393     Total current assets   1,616,810   1,463,849
           
845,955   1,242,923     Total assets   2,439,361   2,014,972
           
 


Accounting Policies
PARENT COMPANY Note  Liabilities  (DKK - in thousands)    GROUP
2003
 		   2004
 		         2004
 		   2003
 
70,294   67,515     Share capital   67,515   70,294
-73,317   -87,068     Exchange rate adjustments   -87,068   -73,317
525,184   670,678     Retained earnings   670,678  

525,184
522,161   651,125   11 Shareholders' equity   651,125   522,161
           
                   
3,926    4,027    9 Provision for deferred tax 27,129    49,684
0    0   12 Other provisions 14,184   15,216
3,926   4,027     Provisions   41,313   64,900
           
 0    0     Mortgage debt   2,438   2,862
88,539   78,238   13 Other long-term debt   455,235   538,248
88,539   78,238     Long-term creditors 457,673   541,110
           
10,277   10,268     Short-term part of long-term debt   12,335   15,305
203,419   369,270     Interest-bearing short-term debt   660,775   293,725
0   0     Trade creditors   164,721   144,794
0   5,769   4 Corporation tax   20,406   36,096
13,671   112,478     Intra-group creditors, subsidiary undertakings   -   -
2,365   7,920     Other creditors   337,915   297,152
1,012   953     Non-realised losses on financial contracts   953   5,773
585   2,875   Prepayments and accrued income   92,145   93,956 
231,329   509,533     Short-term creditors 1,289,250   886,801
           
319,868   587,771     Total creditors   1,746,923   1,427,911
           
845,955   1,242,923     Total liabilities   2,439,361   2,014,972
           
                   
        10 Shares        
        14 Rent and lease obligations        
        15 Contingent liabilities        
        16 Employees        
        17 Fees to auditors        
        18 Related parties        
        19 Government grants        
  
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