Annual Report 2005/06 THE WORLD OF SOUND - Sonova
Annual Report 2005/06 THE WORLD OF SOUND - Sonova Annual Report 2005/06 THE WORLD OF SOUND - Sonova
The expected Group tax rate is the aggregate obtained by applying the currently effective rate for each individual jurisdiction to itsrespective result before taxes.Due to a change in the country mix of the taxable profit the Group tax rate was reduced to 20.1%.Composition of deferred tax assets and liabilitiesAssetsLiabilitiesAssetsLiabilities1,000 CHFTax loss carry forwardTrade receivablesOther receivables and prepaid expensesInventories incl. allowancesTangible fixed assetsIntangible assetsProvisionsOther liabilitiesDeferred taxes18,244996122,0711361,60112,9273,17059,14631.3.20061,92422,1607,6467,0113,21710,08932,04913,8651,13713,874308157,1688,03444,92331.3.20051,1851012,2818,5592,8432,39419317,556Deferred tax assets have been capitalized based on the projected future performance of the Group companies, supplemented with taxplanning opportunities.In financial year 2004/05, CHF 42,000 have been credited to equity arising from the deferred tax impact on the currency translationdifference related to the associate company Cochlear Ltd.The gross values of unused tax loss carryforwards, which have not been capitalized as deferred tax assets, with their expiry dates are asfollows:1,000 CHFWithin 1 yearWithin 2 yearsWithin 3 yearsWithin 4 yearsWithin 5 yearsMore than 5 yearsTotal2005/0684842004/0559580675Consolidated Financial Statements63
11. Earnings per shareBasic earnings per shareBasic earnings per share are calculated by dividing the income after taxes attributable to the ordinary equity holders of the parentcompany by the weighted average number of shares outstanding during the year.Income after taxes (in 1,000 CHF)Weighted average number of outstanding sharesBasic earnings per share (in CHF)2005/06171,44766,162,2372.5912004/05 1)95,02465,548,3171.4501)Including adjustments in accordance with new IFRS accounting standards (see Note 32)Diluted earnings per shareIn the case of diluted earnings per share, the weighted average number of shares outstanding is adjusted assuming all outstandingdilutive options will be exercised. The weighted average number of shares is adjusted for all dilutive options issued under the stockoption plans which have been granted in 2003, 2004, 2005, and 2006 and which have not yet been exercised. Anti-dilutive optionshave not been considered. The calculation of diluted earnings per share is based on the same income after taxes for the period as isused in calculating basic earnings per share.Income after taxes (in 1,000 CHF)Adjusted weighted average number of outstanding sharesDiluted earnings per share (in CHF)2005/06171,44766,755,9592.5682004/05 1)95,02466,263,4231.4341)Including adjustments in accordance with new IFRS accounting standards (see Note 32)12. Dividend per shareThe Board of Directors of Phonak Holding AG proposes to the Annual General Shareholders’ Meeting to be held on July 6, 2006, that adividend of CHF 0.50 (previous year CHF 0.30) per share shall be distributed.13. Cash and cash equivalents1,000 CHFCash on handPostal checking and current bank accountsTime depositsTotal31.3.2006384132,81846,347179,54931.3.20055,02983,72784,487173,243The time deposits and bank accounts are mainly denominated in CHF, EUR and USD.For details of the movements in cash and cash equivalents refer to the consolidated statement of cash flows (page 48).64 Consolidated Financial Statements
- 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
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- 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
- Page 53 and 54: Notes to the ConsolidatedFinancial
- Page 55 and 56: equity method, the investment in an
- Page 57 and 58: Short-term debtsShort-term debts co
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- Page 61 and 62: 5. Segment informationProfit or los
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- Page 69 and 70: 17. Inventories1,000 CHFRaw materia
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- Page 73 and 74: GoodwillSoftwareIntangiblesrelating
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- Page 77 and 78: 27. Other long-term liabilities1,00
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- Page 83 and 84: The amount recognized in the consol
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- Page 87 and 88: 35. Number of employeesAt March 31,
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The expected Group tax rate is the aggregate obtained by applying the currently effective rate for each individual jurisdiction to itsrespective result before taxes.Due to a change in the country mix of the taxable profit the Group tax rate was reduced to 20.1%.Composition of deferred tax assets and liabilitiesAssetsLiabilitiesAssetsLiabilities1,000 CHFTax loss carry forwardTrade receivablesOther receivables and prepaid expensesInventories incl. allowancesTangible fixed assetsIntangible assetsProvisionsOther liabilitiesDeferred taxes18,244996122,0711361,60112,9273,17059,14631.3.20<strong>06</strong>1,92422,1607,6467,0113,21710,08932,04913,8651,13713,874308157,1688,03444,92331.3.<strong>2005</strong>1,1851012,2818,5592,8432,39419317,556Deferred tax assets have been capitalized based on the projected future performance of the Group companies, supplemented with taxplanning opportunities.In financial year 2004/05, CHF 42,000 have been credited to equity arising from the deferred tax impact on the currency translationdifference related to the associate company Cochlear Ltd.The gross values of unused tax loss carryforwards, which have not been capitalized as deferred tax assets, with their expiry dates are asfollows:1,000 CHFWithin 1 yearWithin 2 yearsWithin 3 yearsWithin 4 yearsWithin 5 yearsMore than 5 yearsTotal<strong>2005</strong>/<strong>06</strong>84842004/055958<strong>06</strong>75Consolidated Financial Statements63
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