Annual Financial Statements

Financial Statements for the year ended 31 December 2003

Balance Sheets as at 31 December 2003

Company Group 2002 2003 Rmillion Note   2003 2002 Restated Restated ASSETS Non-current assets 1 889 1 908 Property, plant and equipment  1  4 162 4 104 100 94 Growing crops  2  179 168 210 210 Long-term receivable  3  210 210 Goodwill  4  37 40 2 2 Investments  5  5 29 39 11 Derivative instruments  6  11 51 639 919 Subsidiaries and joint ventures  7  2 879 3 144   4 604 4 602   1 923 1 825 Current assets 3 709 3 807 1 246 1 251 Inventories  8  1 769 1 887 514 527 Accounts receivable   1 132 982 163 47 Cash resources   808 938   4 802 4 969   TOTAL ASSETS   8 313 8 409 EQUITY AND LIABILITIES Capital and reserves 101 101 Share capital  9  101 101 728 730 Share premium 730 728 36 14 Non-distributable reserves 29 115 2 000 1 725 Retained income 3 333 3 607 2 865 2 570 Equity 4 193 4 551   Minority interest in subsidiaries 6 5 401 296 Deferred tax  10  866 1 006 183 Long-term borrowings  11  371 614 212 221 Provisions  12  260 245 64 1 Derivative instruments  6  53 186   1 077 1 881 Current liabilities 2 564 1 802 1 006 1 036 Trade and other payables  13  1 551 1 476 71 845 Short-term borrowings  11  998 317     Tax 15 9 4 802 4 969 TOTAL EQUITY AND LIABILITIES 8 313 8 409