Adidas 2003 Annual Report Download - page 124

Download and view the complete annual report

Please find page 124 of the 2003 Adidas annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 170

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170

EXECUTIVE BOARD STATEMENT ///
The Executive Board of adidas-Salomon AG is responsible for the compilation, completeness and
accuracy of the Group’s annual consolidated financial statements, the description of the economic
development and the Group management report as well as the other information presented in
the annual report. The consolidated financial statements 2003 were prepared in accordance with
International Financial Reporting Standards (IFRS) adopted by the International Accounting
Standards Board (IASB). The consolidated financial statements also comply with § 292a German
Commercial Code (HGB), which exempts adidas-Salomon AG from the obligation of reporting con-
solidated financial statements under German GAAP. The Group management report additionally
complies with the requirements of the German Commercial Code (HGB).
To ensure accuracy and reliability of the underlying information, the content of the consolidated
financial statements is based on the information reported in accordance with Group-wide uniform
guidelines which are consistent for all companies included in consolidation. The integrity of the
reporting process and risk management systems is safeguarded by effective internal control sys-
tems established under the direction of the Executive Board which is in compliance with the Ger-
man Act regarding the Control and Transparency of Company Divisions (KonTraG). These control
systems form an essential part of our value-oriented management style. As a consequence, a true
and fair view of the Group’s financial position, results of operations and cash flows and its reporting
thereon is assured and the Executive Board is in a position to recognize potential investment risks
and negative developments at an early stage and take appropriate countermeasures.
In accordance with a resolution adopted by the shareholders at the Annual General Meeting in
2003, KPMG Deutsche Treuhand-Gesellschaft Aktiengesellschaft Wirtschaftsprüfungsgesellschaft,
Frankfurt, was appointed as independent auditor to audit adidas-Salomon’s consolidated financial
statements and Group management report contained in this annual report. The Supervisory Board
examines the consolidated financial statements, the Group management report as well as the audit
report at its meeting on the annual consolidated financial statements. The results of these reviews
are described in the supervisory board report.
Herzogenaurach, February 18, 2004
Herbert Hainer /// CEO and Chairman Robin Stalker /// Chief Financial Officer
120 FINANCIAL ANALYSIS EXECUTIVE BOARD STATEMENT