Annual Report 2010/11 - Sonova

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“The quality of life that I have gained from my hearing instrument is priceless. Nobody should willingly give that up.” Art Furrer, age 74, Switzerland His solution: an in-the-ear hearing instrument from Phonak (Ambra IX)
StraiGHt From real liFe – cowboy hat meets high tech Art Furrer is a Swiss original: mountain guide, ski instructor, the father of ski acrobatics and a dedicated hotelier. Nearly every evening he walks around the restaurants of his hotels. A conversation here, a greeting there – this is Art Furrer at his best. And on his head he always wears his trademark cowboy hat, a reminder of the 13 years he spent in the US teaching the Kennedys, among others, how to ski. Talking to people and having a chat are almost as important to Art Furrer as the air he breathes. But the time came when he was forced to admit that it was becoming increasingly difficult to understand the guests in his crowded restaurant. High-pitched sounds were also becoming ever more challenging: as a nature-loving alpinist and mountain guide, he especially missed hearing birds and crickets chirping. When his hearing care professional diagnosed age-related hearing loss, he knew he had to do something. High-performance, user-friendly, small, and ergonomic – Art Furrer was surprised to see what today’s modern hearing instruments have to offer. He decided in favor of Ambra IX from Phonak, an in-the-ear hearing instrument that is prac-tically invisible externally. Since wearing it, he has been able to thoroughly enjoy concerts, lectures, and the sounds of nature again. And he even feels completely confident and at ease during conversations in noisy settings. Those affected by hearing loss wait an average of ten years before doing something about their condition. This is a serious problem, because during that time the brain forgets how to hear and the ability to hear has to be painstakingly relearned. This was reason enough for Art Furrer to talk openly about his hearing loss and to encourage others to take action early on.
Page 1 and 2: THE HEARING CARE COMPANY All the So
Page 3 and 4: highLightS & Key figureS - New sale
Page 5 and 6: 02 Foreword 06 Sonova Group 16 Hear
Page 7 and 8: from 2002 to 2004 and subsequently
Page 9 and 10: eaKinG barrierS - with talent and t
Page 11 and 12: ON THE WAY TO BECOMING A GLOBAL HEA
Page 13 and 14: and a global distribution network e
Page 15 and 16: THE SONOVA GROUP No hearring loosss
Page 17: Better hearing for people with norm
Page 21 and 22: THE HEARING INSTRUMENT MARKET - CON
Page 23 and 24: THE PHONAK SPICE GENERATION - THE S
Page 25 and 26: WIDE RANGE OF HEARING INSTRUMENTS T
Page 27 and 28: LYRIC - THE “CONTACT LENS FOR THE
Page 29 and 30: Sonova is investing heavily in the
Page 31 and 32: Eight years later, Evelyn almost co
Page 33 and 34: THE HEARING IMPLANTS SEGMENT In the
Page 35 and 36: The considerable strategic importan
Page 37 and 38: ABOUT ADVANCED BIONICS Advanced Bio
Page 39 and 40: worKinG - and communicating safely
Page 41 and 42: EMPLOYEES FOCUS ON PEOPLE One of th
Page 43 and 44: ISO 9001:2000 and 13485:2003 certif
Page 45 and 46: The key environmental data shown in
Page 47 and 48: ENVIRONMENTAL MANAGEMENT AT THE ST
Page 49 and 50: CAMBODIA - BETTER OPPORTUNITIES FOR
Page 51 and 52: Better hearing - better success at
Page 53 and 54: in critical moments. As a consequen
Page 55 and 56: CrOSS-SHArEHOLDInGS Sonova Holding
Page 57 and 58: BOArD Of DIrECTOrS The primary duty
Page 59 and 60: Andy rihs Co-founder, non-executive
Page 61 and 62: onald van der Vis non-executive mem
Page 63 and 64: AuDIT COMMITTEE The members of the
Page 65 and 66: 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
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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
Page 83:
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
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110 5. segment information segment
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112 6. other expenses, net 1,000 ch
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114 Deferred tax assets and (liabil
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116 11. cash and cash equivalents 1
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118 14. other receivables and prepa
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120 the increase in property, plant
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122 1,000 cHf 31.3.2010 Cost Goodwi
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124 20. Provisions 1,000 cHf 31.3.2
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126 23. non-current financial liabi
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128 foreign currency sensitivity an
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130 the following table summarizes
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132 caPital RisK manaGement it is t
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134 the annual General shareholders
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136 28. Related party transactions
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138 Amounts recognized in the incom
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140 30. Employee share option and s
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142 The fair value of options/warra
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144 Changes in outstanding shares/R
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146 36. list of significant consoli
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148 REPORT OF THE STATuTORY AuDITOR
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150 Income Statements 1,000 CHF Not
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152 NOTES TO THE FINANCIAL STATEmEN
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154 Executive Equity Award Plan The
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156 Compensation to the management
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158 The following table shows the d
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160 Warrants EEAP 10 2) Warrants/ o
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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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