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
36. Events after the balance sheet dateOn April 1, 2006 the Group acquired 100% of National Hearing Services Inc., Canada. The company acquired is engaged in the businessof providing hearing health solutions to retail customers.The expected cash outflow for this transaction amounts to CHF 33.7 million and is made up of a fixed (CHF 26.4 million) andvariable purchase price (CHF 7.3 million). In the financial year 2005/06, the company acquired reported sales of approximatelyCHF 19.7 million.In addition, at the beginning of May 2006, the Group acquired two smaller companies engaged in the business of selling hearinginstruments. The expected cash outflow for these two transactions amounts to CHF 26.2 million (CHF 14.1 million fixed purchaseprice and CHF 12.1 million variable purchase price). In the calendar year 2005, the companies acquired reported sales of approximatelyCHF 18.3 million.37. Exchange ratesThe following are the exchange rates used for currency translation:Year-end ratesBalance sheetAverage rates for the yearIncome statementAUD 1BRL 1CAD 1CNY 1DKK 100EUR 1GBP 1JOD 1JPY 100NOK 100NZD 1PLN 1SEK 100USD 131.3.20060.930.591.120.1621.121.582.271.851.1119.690.800.4016.721.3131.3.20050.93n/a0.990.1420.851.552.251.631.1218.950.85n/a17.001.202005/060.960.591.070.1620.791.552.271.801.1319.480.880.4016.581.272004/050.91n/a0.960.1520.701.542.261.721.1418.600.82n/a16.911.23Consolidated Financial Statements85
38. List of significant consolidated companiesCompany nameActivityDomicileShare capitalLocal curr. 1,000Shares held byPhonak HoldingSwitzerlandPhonak Holding AGPhonak AGPhonak Communications AGEurope (excluding Switzerland)Phonak GmbHUnitron Hearing GmbHPhonak France SAPhonak Italia SrlPhonak Ibérica S.A.Ets. Lapperre BHAC NVPhonak Belgium NVPhonak B.V.Unitron Hearing B.V.Phonak Danmark A/SPhonak ABPhonak ASPhonak Group Ltd.Hansaton Akustische Geräte-Gesellschaft m.b.H.Phonak Polska Sp. Z o.o.HIMSA A/SCochlear Acoustics Ltd.AmericasPhonak LLCPhonak Canada Ltd.Unitron Hearing Ltd.Unitron Hearing, Inc.THC Finance Ltd.RAV Finance Inc.CAS Produtos Médicos Ltda.Metro Hearing Inc.Asia/PacificPhonak Pty. Ltd.Phonak New Zealand Ltd.Jordan Hearing Aids Manufacturing Co. Ltd.Phonak Japan Co. Ltd.Unitron Hearing (Suzhou) Co. Ltd.Phonak (Sichuan) Co. Ltd.Unitron Hearing Korea Co. Ltd.AB,C,DB,C,DBBBBBBA,BBBBBBBBBDDBA,BB,C,DBAABBBBBBCBBStäfa (CH)Stäfa (CH)Murten (CH)Stuttgart (D)Stuttgart (D)Bron-Lyon (F)Milan (I)Alicante (E)Groot-Bijgaarden (B)Brussels (B)Nieuwegein (NL)Nieuwegein (NL)Frederiksberg (DK)Stockholm (S)Oslo (N)Warrington (GB)Wals-Himmelreich (AUT)Warsaw (POL)Copenhagen (DK)London (GB)Warrenville (USA)Mississauga (CDN)Kitchener (CDN)Plymouth (USA)BermudaUSASao Paulo (BRA)Wilmington (USA)Baulkham Hills (AUS)Auckland (NZ)Amman (JOR)Tokyo (JPN)Suzhou (CHN)Sichuan (CHN)Seoul (KOR)CHFCHFCHFEUREUREUREUREUREUREUREUREURDKKSEKNOKGBPEURPLNDKKGBPUSDCADCADUSDCHFUSDBRLUSDAUDNZDJODJPYCNYCNYKRW3,3182,500500153413051,0407,00012415,311227189,0002009001504501001,0000 2)1,25088,69417,43646,608165,0210 3)5700 4)7502508010,00032,59419,119200,00099.3%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%25% 1)25% 1)100%100%100%100%100%100%100%100%100%100%100%100%100%100%37.5% 1)Activities:A Holding/Finance: The entity is a holding or finance companyB Sales: The entity performs sales and marketing activities for the GroupC Production: This entity performs manufacturing for the GroupD Research: This entity performs research and development activities for the Group1)Consolidated using the equity method2)GBP 1003)USD 14)USD 1086 Consolidated Financial Statements
- 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
- Page 59 and 60: Employee benefit plansPhonak has va
- Page 61 and 62: 5. Segment informationProfit or los
- Page 63 and 64: 6. Consolidated Income Statement by
- Page 65 and 66: 9. Financial income/(expenses), net
- Page 67 and 68: 11. Earnings per shareBasic earning
- Page 69 and 70: 17. Inventories1,000 CHFRaw materia
- Page 71 and 72: 19. Investments in associates and j
- Page 73 and 74: GoodwillSoftwareIntangiblesrelating
- Page 75 and 76: Among various other items, other pr
- Page 77 and 78: 27. Other long-term liabilities1,00
- Page 79 and 80: 29. Acquisition of subsidiariesDuri
- Page 81 and 82: 30. Related-party transactionsManag
- Page 83 and 84: The amount recognized in the consol
- Page 85 and 86: Summary of outstanding and exercisa
- Page 87: 35. Number of employeesAt March 31,
- Page 91: Cherish the cheers
- Page 95 and 96: Income Statement1,000 CHFIncomeMana
- Page 97 and 98: Notes to the Financial Statements1.
- Page 99 and 100: 3.4 List of significant investments
- Page 101 and 102: Appropriation of Available Earnings
- Page 103: Launch a laugh
- Page 106 and 107: Phonak ABHornsbruksgatan 28SE-117 3
- Page 108 and 109: ImpressumConceptLithographyPrinting
38. List of significant consolidated companiesCompany nameActivityDomicileShare capitalLocal curr. 1,000Shares held byPhonak HoldingSwitzerlandPhonak Holding AGPhonak AGPhonak Communications AGEurope (excluding Switzerland)Phonak GmbHUnitron Hearing GmbHPhonak France SAPhonak Italia SrlPhonak Ibérica S.A.Ets. Lapperre BHAC NVPhonak Belgium NVPhonak B.V.Unitron Hearing B.V.Phonak Danmark A/SPhonak ABPhonak ASPhonak Group Ltd.Hansaton Akustische Geräte-Gesellschaft m.b.H.Phonak Polska Sp. Z o.o.HIMSA A/SCochlear Acoustics Ltd.AmericasPhonak LLCPhonak Canada Ltd.Unitron Hearing Ltd.Unitron Hearing, Inc.THC Finance Ltd.RAV Finance Inc.CAS Produtos Médicos Ltda.Metro Hearing Inc.Asia/PacificPhonak Pty. Ltd.Phonak New Zealand Ltd.Jordan Hearing Aids Manufacturing Co. Ltd.Phonak Japan Co. Ltd.Unitron Hearing (Suzhou) Co. Ltd.Phonak (Sichuan) Co. Ltd.Unitron Hearing Korea Co. Ltd.AB,C,DB,C,DBBBBBBA,BBBBBBBBBDDBA,BB,C,DBAABBBBBBCBBStäfa (CH)Stäfa (CH)Murten (CH)Stuttgart (D)Stuttgart (D)Bron-Lyon (F)Milan (I)Alicante (E)Groot-Bijgaarden (B)Brussels (B)Nieuwegein (NL)Nieuwegein (NL)Frederiksberg (DK)Stockholm (S)Oslo (N)Warrington (GB)Wals-Himmelreich (AUT)Warsaw (POL)Copenhagen (DK)London (GB)Warrenville (USA)Mississauga (CDN)Kitchener (CDN)Plymouth (USA)BermudaUSASao Paulo (BRA)Wilmington (USA)Baulkham Hills (AUS)Auckland (NZ)Amman (JOR)Tokyo (JPN)Suzhou (CHN)Sichuan (CHN)Seoul (KOR)CHFCHFCHFEUREUREUREUREUREUREUREUREURDKKSEKNOKGBPEURPLNDKKGBPUSDCADCADUSDCHFUSDBRLUSDAUDNZDJODJPYCNYCNYKRW3,3182,500500153413051,0407,00012415,311227189,0002009001504501001,0000 2)1,25088,69417,43646,608165,0210 3)5700 4)7502508010,00032,59419,119200,00099.3%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%25% 1)25% 1)100%100%100%100%100%100%100%100%100%100%100%100%100%100%37.5% 1)Activities:A Holding/Finance: The entity is a holding or finance companyB Sales: The entity performs sales and marketing activities for the GroupC Production: This entity performs manufacturing for the GroupD Research: This entity performs research and development activities for the Group1)Consolidated using the equity method2)GBP 1003)USD 14)USD 1086 Consolidated Financial Statements
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