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The consolidated group

The Freudenberg Group
Report of the Board of Partners
Foreword of the Management Board
Management Report of the Freudenberg Group
Global economic situation
Products and markets
Consolidated sales
The consolidated group
Minority interests and joint ventures
Financing and consolidated profit
Cash flow from investing activities and personnel expenses
Risk management
Prospects for 2004
Review of the Operations of the Business Groups and Divisions
People and Responsibility
Innovation
Consolidated Financial Statements
Major Group Companies and Shareholdings
Lists of figures and abbreviations
Imprint

At year-end 2003, the Freudenberg Group comprised 334 companies in 46 countries. 251 companies, including 80 production companies and 93 sales companies, were fully consolidated.

Apart from spin-offs and start-ups, the main change in the consolidated group was the purchase of a further 8.48 percent of the shares of the Politex group. The business unit, formerly consolidated on a pro-rata basis, was fully consolidated effective January 1, 2003.

 

 Figure: Sales by regions in percent