3.5 Reserve for treasury shares A reserve for treasury shares in the amount of CHF 2,182,937 (previous year CHF 319,368) was established which is equal to the cost price (see Note 3.1). The increase in the amount of CHF 1,863,569 was debited to retained earnings. 3.6 Summary of changes in shareholders’ equity 1,000 CHF Balance April 1, 2005 Dividend paid Capital increases (incl. share premium) from conditional capital Increase in reserve for treasury shares Net profit for the year Balance March 31, 2006 During the financial year 2005/06, an additional 338,525 registered shares with a par value of CHF 0.05 each, or a total par value of CHF 16,926 were issued from the conditional capital (which was created for the purpose of an equity participation for key employees of the Phonak Group) for a total net consideration of CHF 6,447,175. In the financial year 2005/06, the conditional share capital with a par value of CHF 429,326 (8,586,520 shares) decreased by CHF 16,926 or 338,525 shares (previous year CHF 28,010 or 560,200 shares), thereby leaving CHF 412,400 (8,247,995 shares) for distribution. Based on the remaining conditional capital, a total of 1,842,693 (previous year 1,852,250) employee stock options were outstanding as of March 31, 2006, which can be exercised until January 2011. 4. Notes to the income statement Share capital 3,301 4.1 Investment income This comprises dividends received from Group companies and other investments. 17 3,318 4.2 Taxes The tax expense consists of Swiss federal taxes on non-investment income (the company is exempt from income taxes in the canton of Zurich). General legal reserve 142,818 6,430 149,248 Free reserve 98,000 98,000 Treasury share reserve 319 1,864 2,183 Retained earnings 47,558 (19,840) (1,864) 45,274 71,128 Total shareholders’ equity 291,996 (19,840) 6,447 45,274 323,877 Financial Statements of Phonak <strong>Holding</strong> <strong>AG</strong> 97
Appropriation of Available Earnings As proposed by the Board of Directors to the <strong>Annual</strong> General Shareholders’ Meeting of July 6, 2006 1,000 CHF Carried forward from previous year Release from/(allocation to) reserve for treasury shares Net profit for the year Available earnings Dividend distribution Balance to be carried forward 98 Financial Statements of Phonak <strong>Holding</strong> <strong>AG</strong> 31.3.2006 27,718 (1,864) 45,274 71,128 (33,163) 1) 37,965 31.3.2005 2) 4,233 3,641 39,684 47,558 (19,840) 27,718 1) If the <strong>Annual</strong> General Shareholders’ Meeting approves the proposed appropriation of available earnings, a gross dividend of CHF 0.50 per registered share of CHF 0.05 will be paid out 2) Approved by the <strong>Annual</strong> General Shareholders’ Meeting of July 7, 2005
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Annual Report 2005/06 Annual Report
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FIVE-YEAR KEY FIGURES (Consolidated
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CHAIRMAN’S FOREWORD In 2005/06, t
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Move with the melody
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digital entry-level product line, w
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MARKETS General market development
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NEW TECHNOLOGIES AND PRODUCTS Platf
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OPERATIONS AND STAFF Operations Wit
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Listen to life
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This report describes the principle
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Capital Structure Changes in capita
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Left to right: Robert F. Spoerry, D
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Andy Rihs (born in 1942) has been C
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Dr. Valentin Chapero Rueda (born in
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Share and option ownership of membe
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Highest total compensation The high
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Investor Relations Calendar July 6,
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SUSTAINABILITY Phonak’s managemen
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Our customers buy a better quality
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Corporate Governance Phonak’s Boa
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Push your performance
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