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106
On January 25, 2006, the Group announced that it
had amended its offer to acquire Citect (see note 3),
a manufacturer of SCADA and MES systems, in
response to a competing bid submitted on January 6,
2006. The offer has been approved by government
authorities and remains to be approved by an Aus-
tralian court and the company’s shareholders.
Lastly, the Group announced the signature of an
agreement to acquire AEM SA in Spain on February 2,
2006. AME SA designs, manufactures and sells low
voltage electrical distribution equipment and installa-
tion systems for the Residential and Buildings markets.
28.2 - Divestments
On January 31, 2006, the Group announced the
divestment of Num, a subsidiary specialized in numer-
ical control. The transaction will not have an impact on
the 2006 financial statements.
Note 29 - Impact of
the transition to IFRS
This note includes:
Tables reconciling the 2004 financial statements
prepared in accordance with French generally accept-
ed accounting principles and rules (French GAAP) to
the 2004 financial statements prepared in accordance
with International Financial Reporting Standards
(IFRS).
A description of the options applied in first-time
adoption of IFRS, as of January 1, 2004.
A description of the nature and impact of changes
in accounting principles and policies on the 2004
opening and closing balance sheets and on the
income statement for the year ended December 31,
2004.
Information on standards with little or no impact on
the Group accounts.
29.1 - Reconciliation of the 2004 financial
statements under French GAAP and IFRS
The following tables reconcile the 2004 financial state-
ments prepared and published in accordance with
French generally accepted accounting principles and
rules (French GAAP) to the 2004 financial statements
prepared in accordance with International Financial
Reporting Standards (IFRS). The 2004 financial state-
ments have not been adjusted for IAS 32 and IAS 39,
which have been applied prospectively as from Janu-
ary 1, 2005.
Adjustments in the 2005 opening balance sheet aris-
ing from application of IAS 32 and IAS 39 are present-
ed in note 2.
29.1.1 - Opening balance sheet
Assets
(in millions of euros)
Jan. 1, 2004 Jan. 1, 2004
Notes
French
Adjustments
IFRS
GAAP
Non-current assets
Goodwill, net
29.3.2
3,512.8 3,512.8
Intangible assets
29.3.1
270.7
1.3
272.0
Property, plant and equipment
29.4.3
1,439.1
(9.3)
1,429.8
Assets held for sale
29.4.3
-
14.8
14.8
Total 1,709.8
6.8
1,716.6
Investments in associates 60.5 60.5
Available-for-sale financial assets 369.6 369.6
Other financial assets 585.4 585.4
Total investments 955.0
-
955.0
Deferred taxes
29.3.4
747.2
175.9
923.1
Other non-current assets
29.3.5
315.6
(315.2)
0.4
Total non-current assets 7,300.9
(132.5)
7,168.4
Current assets
Inventories and work in process
29.3.3
1,124.1
36.2
1,160.3
Trade accounts receivable
29.3.6
1,781.3
(31.6)
1,749.7
Other receivables and prepaid expenses
29.3.1/ 29.4.5
627.0
(40.4)
586.6
Cash and cash equivalents 3,087.5 3,087.5
Total current assets 6,619.9
(35.8)
6,584.1
Total assets 13,920.8
(168.3)
13,752.5