Annual Report 2010/11 - Sonova

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114 Deferred tax assets and (liabilities) 1,000 chf 31.3.2010 Property, plant and equipment intangible assets 1) inventories, receivables, provisions and other liabilities tax loss carryforwards 1) Balance april 1 (4,684) (16,330) 42,944 19,670 41,600 changes through business combinations (5,698) 3,966 (1,732) deferred taxes recognized in the income statement 164 (2,794) 1,651 22,236 21,257 deferred taxes recognized in equity (4,093) (4,093) exchange differences (82) (216) 301 1,354 1,357 Balance March 31 (4,602) (25,038) 40,803 47,226 58,389 Amounts in the balance sheet deferred tax assets 96,986 deferred tax liabilities (38,597) Total deferred taxes, net 58,389 1) Restated based on finalization of the acquisition accounting of advanced Bionics (for details refer to note 3.7). deferred tax assets have been capitalized based on the projected future performance of the group companies, supplemented with taxplanning opportunities. the gross values of unused tax loss carryforwards, which have not been capitalized as deferred tax assets, with their expiry dates are as follows: 1,000 chf 31.3.2011 31.3.2010 within 1 – 3 years 14,116 20,983 within 4 years 5,716 7,966 within 5 years 5,998 7,074 More than 5 years 188,403 1) 52,998 Total 214,233 89,021 1) includes preacquisition tax losses with limitation of use. total 1)
9. earnings per share consolidated financial statements 115 Basic earnings per share are calculated by dividing the income after taxes attributable to the ordinary equity holders of the parent company by the weighted average number of shares outstanding during the year. Basic earnings per share 2010/11 2009/10 1) Income after taxes (1,000 chf) 231,010 217,218 weighted average number of outstanding shares 66,058,632 65,495,574 Basic earnings per share (CHF) 3.50 3.32 1) Restated based on finalization of the acquisition accounting of advanced Bionics (for details refer to note 3.7). in the case of diluted earnings per share, the weighted average number of shares outstanding is adjusted assuming all outstanding dilutive options will be exercised. the weighted average number of shares is adjusted for all dilutive options issued under the stock option plans which have been granted in 2005 through to 2011 and which have not yet been exercised. antidilutive options have not been considered. the calculation of diluted earnings per share is based on the same income after taxes for the period as is used in calculating basic earnings per share. Diluted earnings per share 2010/11 2009/10 1) Income after taxes (1,000 chf) 231,010 217,218 weighted average number of outstanding shares 66,058,632 65,495,574 adjustment for dilutive share options 552,125 681,993 adjusted weighted average number of outstanding shares 66,610,757 66,177,567 Diluted earnings per share (CHF) 3.47 3.28 1) Restated based on finalization of the acquisition accounting of advanced Bionics (for details refer to note 3.7). 10. dividend per share the Board of directors of sonova holding ag proposes to the annual general shareholders’ meeting, to be held on June 21, 2011, that instead of a dividend, a distribution from reserve from capital contributions of chf 1.20 per share (free of swiss witholding tax) shall be distributed (for further details refer to “3.6 summary of changes in shareholders’ equity” in the financial statements 2010/11 of sonova holding ag). in the previous year, an ordinary dividend of chf 1.20 per share was distributed.
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THE HEARING CARE COMPANY All the So
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highLightS & Key figureS - New sale
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02 Foreword 06 Sonova Group 16 Hear
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from 2002 to 2004 and subsequently
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eaKinG barrierS - with talent and t
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ON THE WAY TO BECOMING A GLOBAL HEA
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and a global distribution network e
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THE SONOVA GROUP No hearring loosss
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Better hearing for people with norm
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StraiGHt From real liFe - cowboy ha
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THE HEARING INSTRUMENT MARKET - CON
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THE PHONAK SPICE GENERATION - THE S
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WIDE RANGE OF HEARING INSTRUMENTS T
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LYRIC - THE “CONTACT LENS FOR THE
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Sonova is investing heavily in the
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Eight years later, Evelyn almost co
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THE HEARING IMPLANTS SEGMENT In the
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The considerable strategic importan
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ABOUT ADVANCED BIONICS Advanced Bio
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worKinG - and communicating safely
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EMPLOYEES FOCUS ON PEOPLE One of th
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ISO 9001:2000 and 13485:2003 certif
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The key environmental data shown in
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ENVIRONMENTAL MANAGEMENT AT THE ST
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CAMBODIA - BETTER OPPORTUNITIES FOR
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Better hearing - better success at
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in critical moments. As a consequen
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CrOSS-SHArEHOLDInGS Sonova Holding
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BOArD Of DIrECTOrS The primary duty
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Andy rihs Co-founder, non-executive
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onald van der Vis non-executive mem
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AuDIT COMMITTEE The members of the
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Alexander Zschokke Interim CEO, GVP
Page 67 and 68: Dr Hans Leysieffer GVP research & D
Page 69 and 70: COmPenSatiOn and SharehOldingS - co
Page 71 and 72: The shares/rSus have a blocking per
Page 73 and 74: COMPEnSATIOn TO MEMBErS Of THE MAnA
Page 75 and 76: SHArEHOLDInGS Of MEMBErS Of THE BOA
Page 77 and 78: The following table shows the detai
Page 79 and 80: CHAnGES Of COnTrOL AnD DEfEnSE MEAS
Page 81 and 82: COMPEnSATIOn rEPOrT inveStOrS at SO
Page 83: develOPing SPeeCh CaPaBilitieS - mo
Page 86 and 87: 82 Financial Review - setting the c
Page 88 and 89: 84 SALES in CHF m EBITA in CHF m 1,
Page 90 and 91: 86 SUBSTANTIAl INVESTMENTS IN INNoV
Page 92 and 93: 88 AdVANCEd BIoNICS RESUMES SAlES I
Page 94 and 95: 90 5 year key Figures (Consolidated
Page 96 and 97: 92 Consolidated Income Statements 1
Page 98 and 99: 94 Consolidated Cash Flow Statement
Page 100 and 101: 96 NoTeS To THe CoNSoLIdATed FINANC
Page 102 and 103: 98 INveSTMeNTS IN JoINT veNTuReS In
Page 104 and 105: 100 LeASING Assets that are held un
Page 106 and 107: 102 SeGMeNT RePoRTING operating seg
Page 108 and 109: 104 3.5 derivative financial instru
Page 110 and 111: 106 3.7 Restatement of prior year
Page 112 and 113: 108 Consolidated Changes in Equity
Page 114 and 115: 110 5. segment information segment
Page 116 and 117: 112 6. other expenses, net 1,000 ch
Page 120 and 121: 116 11. cash and cash equivalents 1
Page 122 and 123: 118 14. other receivables and prepa
Page 124 and 125: 120 the increase in property, plant
Page 126 and 127: 122 1,000 cHf 31.3.2010 Cost Goodwi
Page 128 and 129: 124 20. Provisions 1,000 cHf 31.3.2
Page 130 and 131: 126 23. non-current financial liabi
Page 132 and 133: 128 foreign currency sensitivity an
Page 134 and 135: 130 the following table summarizes
Page 136 and 137: 132 caPital RisK manaGement it is t
Page 138 and 139: 134 the annual General shareholders
Page 140 and 141: 136 28. Related party transactions
Page 142 and 143: 138 Amounts recognized in the incom
Page 144 and 145: 140 30. Employee share option and s
Page 146 and 147: 142 The fair value of options/warra
Page 148 and 149: 144 Changes in outstanding shares/R
Page 150 and 151: 146 36. list of significant consoli
Page 152 and 153: 148 REPORT OF THE STATuTORY AuDITOR
Page 154 and 155: 150 Income Statements 1,000 CHF Not
Page 156 and 157: 152 NOTES TO THE FINANCIAL STATEmEN
Page 158 and 159: 154 Executive Equity Award Plan The
Page 160 and 161: 156 Compensation to the management
Page 162 and 163: 158 The following table shows the d
Page 164 and 165: 160 Warrants EEAP 10 2) Warrants/ o
Page 166 and 167: 162 Company name Activity Domicile
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164 Appropriation of Available Earn
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166 REPORT OF THE STATUTORy AUDITOR
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Disclaimer This report contains for
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Annual Report 2010/11 - Sonova

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