Annual Report 2010/11 - Sonova

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160 Warrants EEAP 10 2) Warrants/ options EEAP 09 3) Warrants EEAP 08 5) Options EEAP 07 6) Options EEAP 06 7) Total warrants 1) 31.3.2010 Total options Dr Valentin Chapero Rueda 160,000 4) 500,000 660,000 Oliver Walker 742,500 618,750 250,000 5,000 1,611,250 5,000 Paul Thompson 562,500 468,750 200,000 4,000 1,231,250 4,000 Sarah Kreienbühl 562,500 625,000 400,000 8,000 3,750 1,587,500 11,750 Dr Hans Leysieffer 562,500 468,750 200,000 4,000 1,231,250 4,000 Cameron Hay 427,500 475,000 250,000 10,000 3,750 1,152,500 13,750 Ignacio Martinez 562,500 625,000 337,500 16,000 7,000 1,525,000 23,000 Alexander Zschokke 562,500 468,750 200,000 5,576 1,231,250 5,576 Hans Mehl 450,000 500,000 500,000 70,000 8) 1,450,000 70,000 Total warrants 4,432,500 4,250,000 2,337,500 11,020,000 Total options 160,000 622,576 14,500 797,076 1) Exercise ratio between warrants and options: 25:1 (see also Note 30 in the consolidated financial statements). 2) Strike price CHF 131.00, blocking period 1.03.2010 – 28.2.2014, whereas one tranche being released each year, exercise period 1.3.2011 – 28.2.2015. 3) Strike price CHF 56.00, blocking period 1.03.2009 – 28.2.2013, whereas one tranche being released each year, exercise period 1.3.2010 – 28.2.2014. 4) Strike price CHF 56.00, extraordinary allocation, options blocking period 1.3.2009 – 28.2.2015, whereas one tranche being released each year, exercise period 1.3.2012 – 29.2.2020. 5) Strike price CHF 96.00, blocking period 1.3.2008 – 29.2.2012, whereas one tranche being released each year, exercise period 1.3.2009 – 28.2.2013. 6) Strike price CHF 95.05, blocking period 1.2.2007 – 30.9.2011, whereas one tranche being released each year, exercise period 1.2.2008 – 30.9.2012. 7) Strike price CHF 63.25, blocking period 1.2.2006 – 31.1.2010, whereas one tranche being released each year, exercise period 1.2.2007 – 31.1.2011. 8) These options were granted to Hans mehl at commencement of employment on April 1, 2007. 3. Notes to the balance sheet 3.1 marketable securities marketable securities include, among other items, 47,060 treasury shares (previous year 192,088) purchased for a total consideration of CHF 5,305,993 (previous year CHF 24,814,161). At march 31, 2011, these shares had a market value of CHF 3,851,861 (previous year CHF 25,163,528). During the financial year 2010/11, 104,061 treasury shares at an average price of CHF 114.45 have been purchased by Sonova Holding AG and further Group companies, while 261,089 treasury shares at an average price of CHF 127.75 have been disposed of. 3.2 Loans to Group companies Of total loans, 42% are denominated in Swiss francs (previous year 51%), 18% in Euros (previous year 14%), 18% in US dollars (previous year 14%), 15% in Canadian dollars (previous year 16%) and 7% in other currencies (previous year 5%).
3.3 List of significant investments FINANCIAL STATEmENTS OF SONOVA HOLDING AG 161 Company name Activity Domicile Share capital Local currency 1,000 Switzerland Shares held by Sonova Holding Phonak AG A, B,C,D Stäfa CHF 2,500 99.3% Phonak Communications AG B,C,D Murten CHF 500 100% Phonak Hearing Systems AG B Stäfa CHF 100 100% Indomed AG A Zug CHF 1,000 100% Indomed Hearing Systems GmbH B Stäfa CHF 20 100% Sona Hearing AG B Stäfa CHF 100 100% Verve Hearing Systems AG B Stäfa CHF 100 100% EMEA (excluding Switzerland) Hansaton Akustische Geräte GmbH B Wals-Himmelreich (AT) EUR 450 100% Phonak Belgium NV A,B Dilbeek (BE) EUR 15,311 100% Phonak Holding GmbH A Fellbach-Oeffingen (DE) EUR 153 100% Phonak Danmark A/S B Frederiksberg (DK) DKK 11,075 100% Phonak Ibérica S.A.U. B Alicante (ES) EUR 7,000 100% Phonak France SA B Bron-Lyon (FR) EUR 305 100% Phonarium Szolgáltató Kft. B Budapest (HU) HUF 5,000 49% Phonak Italia Srl B Milan (IT) EUR 1,040 100% Phonak B.V. B Vianen (NL) EUR 227 100% Phonak AS B Oslo (NO) NOK 900 100% Phonak Polska Sp. Z o.o. B Warsaw (PL) PLN 100 100% Phonak CIS Ltd. B Moscow (RU) RUB 4,000 100% Phonak AB B Stockholm (SE) SEK 200 100% Unitron Hearing AB B Stockholm (SE) SEK 100 100% Phonak Group Ltd. B Warrington (UK) GBP 2,500 100% Lukatit Investments 14 (Pty) Limited B Fourways North (ZA) ZAR 0 1) 100% Americas National Hearing Services Inc. B Victoria (CA) CAD 7,500 100% Phonak Canada Ltd. B Mississauga (CA) CAD 88,694 100% Phonak Mexicana S.A. de C.V. B México D.F. (MX) MXN 50 100% Unitron Hearing, Inc. B Plymouth (US) USD 46,608 100%
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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
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Dr Hans Leysieffer GVP research & D
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COmPenSatiOn and SharehOldingS - co
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The shares/rSus have a blocking per
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COMPEnSATIOn TO MEMBErS Of THE MAnA
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SHArEHOLDInGS Of MEMBErS Of THE BOA
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The following table shows the detai
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CHAnGES Of COnTrOL AnD DEfEnSE MEAS
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COMPEnSATIOn rEPOrT inveStOrS at SO
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develOPing SPeeCh CaPaBilitieS - mo
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82 Financial Review - setting the c
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84 SALES in CHF m EBITA in CHF m 1,
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86 SUBSTANTIAl INVESTMENTS IN INNoV
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88 AdVANCEd BIoNICS RESUMES SAlES I
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90 5 year key Figures (Consolidated
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92 Consolidated Income Statements 1
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94 Consolidated Cash Flow Statement
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96 NoTeS To THe CoNSoLIdATed FINANC
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98 INveSTMeNTS IN JoINT veNTuReS In
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100 LeASING Assets that are held un
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102 SeGMeNT RePoRTING operating seg
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104 3.5 derivative financial instru
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106 3.7 Restatement of prior year
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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 118 and 119: 114 Deferred tax assets and (liabil
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 166 and 167: 162 Company name Activity Domicile
Page 168 and 169: 164 Appropriation of Available Earn
Page 170 and 171: 166 REPORT OF THE STATUTORy AUDITOR
Page 173 and 174: Disclaimer This report contains for
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Annual Report 2010/11 - Sonova

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