Annual Report 2010/11 - Sonova

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enjoyinG – the full sound spectrum Diagnosed with severe hearing loss after several years of struggling during telephone conversations and giving wrong answers when she did not understand what was being asked, Evelyn Gardner started wearing hearing aids in 1987.
Eight years later, Evelyn almost completely relied on lip reading – even when wearing her hearing aids. She had developed a profound hearing loss by then. Despite being a sociable person, she felt uncomfortable among other people and spent less time with friends, resulting in a feeling of isolation. Her hearing aid dispenser finally told her that she might be a candidate for a cochlear implant. She had never heard of it before but started researching and finally got a sense of hope that she might be able to hear better again. In 2006, Evelyn got her first Advanced Bionics cochlear implant. One year later, the second cochlear implant followed. Ever since, her world has changed completely. Evelyn now hears sounds that she has never heard before: the remote control of the car clicking, the air conditioning “I am so used to being able to hear now that I don't place any limitations on myself like I used to prior to my implants.” Evelyn Gardner, 68 years, USA Her solution: a cochlear implant (Harmony) from Advanced Bionics humming and the wind blowing in the trees. She no longer feels limited in any way, enjoying the company of friends and family, giving painting lessons, and regularly taking her grandchildren to the movies. She gains confidence every day and actively takes part in society again. It is all the small sounds of life that make a difference today. The timer going off when the microwave is ready, the doorbell ringing when the neighbor comes over, birds singing, and rain drops falling against the window. The feeling of isolation long gone, Evelyn still marvels every day at how amazingly beautiful life can be if one is able to hear again.
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 and 18: Better hearing for people with norm
Page 19 and 20: StraiGHt From real liFe - cowboy ha
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: Sonova is investing heavily in the
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
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 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 164 and 165:
160 Warrants EEAP 10 2) Warrants/ o
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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