Overview Cornerstones Financials
Holding Company Statements THE ACTELION ANNUAL REPORT 2003
Holding Company Statements
Balance sheets
(in CHF thousands)


2003		December 31,
2002
Liquid funds74,04073,410
Marketable securities1,802 13,199
Accounts receivable147 400
Prepayments and accrued income4 3
Total current assets75,993 87,012
Financial assets:  
Investments in subsidiaries146,766 78,352
Other investment– 2,204
Long-term loans to subsidiaries129,957 166,615
Intangible assets:  
Incorporation and capital increase costs4,503 8,106
Total non current assets281,226 255,277
Total assets357,219 342,289
Short term bank debt40,000 –
Accounts payable and accrued liabilities999 387
Total current liabilities40,999 387
Long-term bank debt– 40,000
Total non-current liabilities– 40,000
Share capital54,378 53,442
Legal reserves - share premium257,230 250,613
Treasury shares reserve1,018 1,018
Profit/(loss) carried forward3,594 (3,171)
Total shareholders’ equity316,220 301,902
Total liabilities and shareholders’ equity357,219 342,289
Income statements
(in CHF thousands)Year ended December 31,
 20032002
Financial income10,607 9,218
Total income10,607 9,218
Administrative expense(4,581)(689)
Financial expense(809)(3,189)
Amortization of incorporation cost(3,603)(3,603)
Changes in value of financial assets5,256 (3,027)
Total expense(3,737)(10,508)
Net income/(loss) before tax6,870 (1,290)
Income taxes(105)–
Net income / (loss ) for the year6,765 (1,290)
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