2004 Annual Report of Benetton
Benetton Group Annual Report 2004
Benetton Group Annual Report 2004
Benetton Group S.p.A. Villa Minelli Ponzano Veneto [Treviso] - Italy Share Capital: Euro 236,026,454.30 fully paid Tax ID/Treviso Company register: 00193320264
The Benetton Group 5 Directors and other officers 7 Letter to Shareholders from the Chairman and Founder of the Benetton Group, Luciano Benetton 8 Financial highlights
11 Directors’ report Markets, trademarks and licenses 12 Production organization 14 Human resources Information Technology 15 Accounting, tax and corporate organization Investor Relations
INDEX
16 Communications 17 Corporate Governance
2 25 Supplementary information Benetton shares and shareholdings 27 Performance of Benetton shares 29 Relationships between the parent company, its subsidiaries and other related parties Management of financial risks 30 Privacy and the protection of personal data 31 Directors Principal organizational and corporate changes 32 Significant events since year-end Outlook for 2005 33 Group consolidated results Consolidated statement of income 35 Performance by activity 37 Financial situation - highlights
42 Impact of introducing IAS/IFRS Development of the relative regulatory framework IAS/IFRS conversion process for the Benetton Group
47 Consolidated financial statements 48 Consolidated balance sheet reclassified according to financial criteria 50 Consolidated statement of income with revenues and cost of sales reclassified 52 Consolidated balance sheet – Assets 54 Consolidated balance sheet – Liabilities, Shareholders’ equity and Memorandum accounts 56 Consolidated statement of income 58 Statement of changes in Shareholders’ equity 59 Statement of changes in minority interests 60 Consolidated statement of cash flow 62 Companies and groups included in the consolidation as of December 31, 2004
INDEX
3
65 Notes to the consolidated financial statements Activities of the Group Form and content of the consolidated financial
Benetton Group Annual Report 2004
Benetton Group S.p.A. Villa Minelli Ponzano Veneto [Treviso] - Italy Share Capital: Euro 236,026,454.30 fully paid Tax ID/Treviso Company register: 00193320264
The Benetton Group 5 Directors and other officers 7 Letter to Shareholders from the Chairman and Founder of the Benetton Group, Luciano Benetton 8 Financial highlights
11 Directors’ report Markets, trademarks and licenses 12 Production organization 14 Human resources Information Technology 15 Accounting, tax and corporate organization Investor Relations
INDEX
16 Communications 17 Corporate Governance
2 25 Supplementary information Benetton shares and shareholdings 27 Performance of Benetton shares 29 Relationships between the parent company, its subsidiaries and other related parties Management of financial risks 30 Privacy and the protection of personal data 31 Directors Principal organizational and corporate changes 32 Significant events since year-end Outlook for 2005 33 Group consolidated results Consolidated statement of income 35 Performance by activity 37 Financial situation - highlights
42 Impact of introducing IAS/IFRS Development of the relative regulatory framework IAS/IFRS conversion process for the Benetton Group
47 Consolidated financial statements 48 Consolidated balance sheet reclassified according to financial criteria 50 Consolidated statement of income with revenues and cost of sales reclassified 52 Consolidated balance sheet – Assets 54 Consolidated balance sheet – Liabilities, Shareholders’ equity and Memorandum accounts 56 Consolidated statement of income 58 Statement of changes in Shareholders’ equity 59 Statement of changes in minority interests 60 Consolidated statement of cash flow 62 Companies and groups included in the consolidation as of December 31, 2004
INDEX
3
65 Notes to the consolidated financial statements Activities of the Group Form and content of the consolidated financial