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| IFCO Systems N.V. |
| Strawinskylaan 2001, Amsterdam, Netherlands NL-1077 ZZ |
| Business Description | The company is a leading provider of round-trip systems internationally, serving over 9,000 customers in 17 countries. |
| Offering Information Company has | |||
| Trading As | IFCO (NASNTL) | Industry | Manufacturing (SIC 3089) |
| Type of Stock Offered | Ordinary Shares | Filing Date | 2/4/00 |
| Domestic Shares Offered | 13,000,000 | Offer Date | 3/3/00 |
| Foreign Shares Offered | 0 | Filing Range | $12.31 - $15.26 |
| Company Shares | 13,000,000 | Offer Price | $15.50 |
| Selling Shrhldrs Shares | 0 | Gross Spread | - - |
| Gross Proceeds | $201,500,000 | Selling | - - |
| Expenses | - - | Reallowance | - - |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 526-8100 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 10 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/97 | 12/31/98 | 10/31/98 | 10/31/99 | |||
| Revenues | - | - | - | 116.735 | 134.721 | 106.021 | 126.399 |
| Income from Oper. | - | - | - | -1.726 | 2.686 | 2.123 | 3.672 |
| Net Income | - | - | - | -11.840 | -7.551 | -6.996 | -6.286 |
| E.P.S | - | - | - | - | -0.450 | - | -0.380 |
| Revenue Growth (%) | - | - | - | 15.408 | 19.22 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | 1.99 | 2.91 | 2.00 |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | 59.94 | 40.50 | 33.42 | ||||
| Cash Flow - Inv. | -38.77 | -35.90 | -40.10 | ||||
| Cash Flow - Fin. | -6.44 | -5.47 | -5.16 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 10/31/99 | Financial Ratios | ||||
| Total Assets | 273.65 | Current Assets | 94.48 | Current Ratio | 0.51 |
| Total Liab. | 308.95 | Current Liab. | 183.64 | Debt Ratio | 112.90% |
| Total Equity | -35.31 | Working Cap. | -89.15 | Debt to Equity Ratio | - |
| Cash | 9.13 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to refinance a substantial portion of the debt of the IFCO Companies and PalEx, to pay the cash portion of the merger consideration to PalEx stockholders, and to fund other concurrent transactions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Shearman & Sterling |
| Bank's Law Firm | King & Spalding |
| Auditor | Pricewaterhouse Coopers LLC |
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