HIGHLIGHTSSales increase by 31% to CHF 867 millionEBIT margin rises to 24% (prior year 19%)Income after taxes grows by 80% to CHF 172 millionPhonak sales growth significantly exceeds hearinginstrument market growthSavia establishes itself as the benchmark product in thehearing instrument industryMarket share gains in all major marketsIn 20<strong>06</strong>/07 several new, highly competitive hearingsystems have been launched: microPower, Verve, andIndigoThe Phonak Group expects to outgrow the hearinginstrument market once again in 20<strong>06</strong>/07
FIVE-YEAR KEY FIGURES(Consolidated)in CHF 1,000 unless otherwise specified <strong>2005</strong>/<strong>06</strong> 2004/05 2003/04 2002/03 2001/02Saleschange compared to previous year (%)Gross profitchange compared to previous year (%)in % of salesResearch and development costsin % of salesSales and marketing costsin % of salesOperating profit before acquisition-related amortization (EBITA) 1)change compared to previous year (%)in % of salesOperating profit/(loss) (EBIT)change compared to previous year (%)in % of salesIncome/(loss) after taxeschange compared to previous year (%)in % of salesNumber of employees (average)change compared to previous year (%)Number of employees (end of period)change compared to previous year (%)Net cash/(net debt) 2)Net working capital 3)in % of salesCapital expenditure (tangible and intangible assets) 4)Capital employed 5)in % of salesTotal assetsEquityEquity financing ratio (%) 6)Free cash flow 7)in % of salesReturn on capital employed (%) 8)Return on equity (%) 9)Information per shareDiluted earnings per share (CHF)Dividend per share (CHF)866,68231.2577,20438.166.663,0397.32<strong>06</strong>,84623.9212,82869.124.6211,66268.324.4172,46579.919.93,16616.43,42817.2177,934125,86614.526,995449,09951.8931,26<strong>06</strong>27,03367.3101,83411.752.632.02.5680.50 10) 660,3756.4417,81412.163.348,9327.4159,11724.1125,83021.619.1125,79732.519.095,85638.214.52,7197.82,9268.893,78579,49612.023,083355,91953.9743,360449,70460.583,78112.736.124.01.4340.3<strong>06</strong>20,53817.9372,64230.260.158,2039.4129,45720.9103,515115.016.794,961354.215.369,359248.211.22,5235.32,68912.79,50158,3589.421,351340,83754.9683,684349,09051.1118,34919.126.421.61.0500.20526,362(6.6)286,159(4.4)54.448,8799.3120,94523.048,139(34.1)9.1(37,359)(162.5)(7.1)(46,792)(209.5)(8.9)2,3970.82,385(1.3)(87,262)86,63416.521,515377,72171.86<strong>06</strong>,861289,55147.728,6625.4(8.7)(14.4)(0.721)0.12563,63424.6299,45615.953.131,4535.6126,82822.573,013(26.8)13.059,770(37.3)10.642,746(35.3)7.62,37850.22,41613.9(121,790)78,70414.029,794483,64985.8742,246360,82148.618,4103.312.612.50.6560.12Share of sales <strong>2005</strong>/<strong>06</strong> – new productsProducts launched in the last 24 months comprise 69% of totalsales.31%24%45%● Launched in <strong>2005</strong>/<strong>06</strong>● Launched in 2004/05● Launched before 2004/05Share of sales by main markets <strong>2005</strong>/<strong>06</strong>Americas and Europe generated 91% of total sales.45%8% 1%46%● Americas● Europe● Asia/Pacific● OthersShare of sales by product groups <strong>2005</strong>/<strong>06</strong>The first class hearing systems increased their share of totalsales due to excellent Savia sales.7%27%13%18%35%● First class hearing systems● Business class hearing systems● Economy class hearing systems● Wireless communication systems● MiscellaneousKey Data
- Page 1: Annual Report 2005/06Annual Report
- Page 5 and 6: CHAIRMAN’S FOREWORDIn 2005/06, th
- Page 7: Move with the melody
- Page 10 and 11: digital entry-level product line, w
- Page 12 and 13: MARKETSGeneral market developmentTh
- Page 15 and 16: NEW TECHNOLOGIES AND PRODUCTSPlatfo
- Page 17 and 18: OPERATIONS AND STAFFOperationsWithi
- Page 19: Listen to life
- Page 22 and 23: This report describes the principle
- Page 24 and 25: Capital StructureChanges in capital
- Page 26 and 27: Left to right: Robert F. Spoerry, D
- Page 28 and 29: Andy Rihs (born in 1942) has been C
- Page 30 and 31: Dr. Valentin Chapero Rueda (born in
- Page 32 and 33: Share and option ownership of membe
- Page 34 and 35: Highest total compensationThe highe
- Page 36 and 37: Investor Relations CalendarJuly 6,
- Page 39 and 40: SUSTAINABILITYPhonak’s management
- Page 41 and 42: Our customers buy a better quality
- Page 43 and 44: Corporate GovernancePhonak’s Boar
- Page 45: Push your performance
- Page 49 and 50: Consolidated Income Statement1,000
- Page 51 and 52: Consolidated Statement of Cash Flow
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Notes to the ConsolidatedFinancial
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equity method, the investment in an
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Short-term debtsShort-term debts co
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Employee benefit plansPhonak has va
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5. Segment informationProfit or los
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6. Consolidated Income Statement by
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9. Financial income/(expenses), net
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11. Earnings per shareBasic earning
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17. Inventories1,000 CHFRaw materia
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19. Investments in associates and j
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GoodwillSoftwareIntangiblesrelating
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Among various other items, other pr
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27. Other long-term liabilities1,00
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29. Acquisition of subsidiariesDuri
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30. Related-party transactionsManag
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The amount recognized in the consol
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Summary of outstanding and exercisa
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35. Number of employeesAt March 31,
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38. List of significant consolidate
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Cherish the cheers
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Income Statement1,000 CHFIncomeMana
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Notes to the Financial Statements1.
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3.4 List of significant investments
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Appropriation of Available Earnings
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Launch a laugh
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Phonak ABHornsbruksgatan 28SE-117 3
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ImpressumConceptLithographyPrinting
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