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19. Investments in associates and joint ventures<br />
The Group’s share of the results of its principal associates and joint ventures and its share of the assets (including goodwill and<br />
liabilities) are as follows:<br />
Investments in associates and joint ventures<br />
1,000 CHF<br />
Current assets<br />
Non-current assets<br />
Total assets<br />
Current liabilities<br />
Long-term liabilities<br />
Total liabilities<br />
Net assets<br />
Income for the year<br />
Expenses for the year<br />
Loss for the year<br />
Net book value as at year end<br />
Share of (loss)/gain recognized by Phonak<br />
The significant investments consist of an associated company with a 25% equity share in Cochlear Accoustics Ltd. and of a 25% equity share<br />
in a joint venture with other leading hearing instrument manufacturers, HIMSA A/S, active in software development in Copenhagen.<br />
In the financial year 2005/06 several acquisitions of investments in associates have been made for a total acquisition value of CHF 2.6 million.<br />
For two investments with a net book value of CHF 2.8 million, the financial statements with a business year ending on December 31 were<br />
included accordingly.<br />
68 Consolidated Financial Statements<br />
2005/06<br />
1,573<br />
1,548<br />
3,121<br />
(914)<br />
(74)<br />
(988)<br />
2,133<br />
3,332<br />
(5,757)<br />
(2,425)<br />
4,064<br />
(134)<br />
2004/05<br />
1,448<br />
1,172<br />
2,620<br />
(1,021)<br />
(1,021)<br />
1,599<br />
2,665<br />
(3,624)<br />
(959)<br />
1,596<br />
152
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