ANNUAL REPORT 2008/09 - Sonova

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32. Leasing liabilities At March 31, 2009 the following non-cancellable minimum operating lease obligations existed: Business Year 1,000 CHF 31.3.2009 31.3.2008 2008/09 13,714 2009/10 21,954 10,434 2010/11 16,229 8,234 2011/12 12,372 6,358 2012/13 10,142 5,037 2013/14 8,610 3,928 thereafter 13,242 7,122 Total 82,549 54,827 The operating lease commitments relate primarily to long-term rental agreements which are, in general, renewable. In fi nancial year 2008/09, CHF 27.2 million have been recognized as expenses for leases in the consolidated income statement (previous year CHF 21.9 million). As of March 31, 2009 and 2008, the Group had no fi nancial lease obligations. 33. Number of employees At March 31, 2009, the Sonova Group employed 5,339 people (previous year 4,746). They were engaged in the following regions and activities: By region 31.3.2009 31.3.2008 Switzerland 1,011 924 Europe (excl. Switzerland) 1,231 1,056 Americas 1,920 1,684 Asia/Pacifi c 1,164 1,071 Africa 13 11 Total 5,339 4,746 By activity Research and development 312 276 Operations 2,144 2,047 Sales and marketing, general and administration 2,883 2,423 Total 5,339 4,746 The average number of employees of the Sonova Group for the year was 5,108 (previous year 4,351). Total personnel expenses for the fi nancial year 2008/09 amounted to CHF 396.6 million (previous year CHF 364.0 million). 108 CONSOLIDATED FINANCIAL STATEMENTS
34. Exchange rates The following main exchange rates were used for currency translation: 31.3.2009 31.3.2008 2008/09 2007/08 Year-end rates Average rates for the year AUD 1 0.79 0.92 0.87 1.00 BRL 1 0.49 0.57 0.57 0.62 CAD 1 0.91 0.98 0.98 1.12 CNY 1 0.17 0.14 0.16 0.16 EUR 1 1.52 1.57 1.56 1.64 GBP 1 1.64 1.99 1.88 2.33 JPY 100 1.17 0.99 1.11 1.01 USD 1 1.15 1.00 1.10 1.16 CONSOLIDATED FINANCIAL STATEMENTS 109
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ANNUAL REPORT 2008/09 PIONEERS IN H
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AT A GLANCE Key Figures in 1,000 CH
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CONTENT 2 CHAIRMAN’S FOREWORD 4 C
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Andy Rihs and explain the advantage
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Dr. Valentin Chapero Rueda systems
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FINANCIAL YEAR 2008/09 SOLID GROWTH
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espectively in local currencies. Fi
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A hearing system helps children wit
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Given the unchanged megatrends, Son
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prehensive portfolio of hearing sys
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Naída IX Nios micro iSense The wir
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SUSTAINABILITY SUSTAINABLE COMMITME
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Professional development: the key t
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Sonova has a Group-wide set of supp
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Phonak’s SoundRecover technology
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Group structure Operational Group s
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Shareholders Registered shareholder
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The following overview shows the sh
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Shareholders’ participation right
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Heliane Canepa Member, non-executiv
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Work methods of the Board of Direct
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Paul Thompson GVP Corporate Develop
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Alexander Zschokke GVP Marketing Ha
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Auditors Duration of the mandate an
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CORPORATE GOVERNANCE 49
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CONTENT FINANCIAL REPORT 54 CFO’S
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Innovation was and remains the most
Page 61 and 62: Sonova Group consolidated cash fl o
Page 63 and 64: Reported performance 2007/08 2) Und
Page 65 and 66: Consolidated Balance Sheets Assets
Page 67 and 68: Consolidated Statements of Recogniz
Page 69 and 70: The Group is currently assessing th
Page 71 and 72: the carrying amount is increased or
Page 73 and 74: Leasing Assets that are held under
Page 75 and 76: Segment reporting A business segmen
Page 77 and 78: Held-to-maturity investments Held-t
Page 79 and 80: view to determining employee benefi
Page 81 and 82: 1,000 CHF 2007/08 Europe Americas A
Page 83 and 84: 8. Taxes 1,000 CHF 2008/09 2007/08
Page 85 and 86: Diluted earnings per share 2008/09
Page 87 and 88: The carrying amounts of trade accou
Page 89 and 90: Tangible assets (buildings, plant a
Page 91 and 92: 1,000 CHF 31.3.2008 Cost Goodwill S
Page 93 and 94: Earn-out provisions include the pre
Page 95 and 96: Market risk Exchange rate risk The
Page 97 and 98: 1,000 CHF 31.03.2008 Due less than
Page 99 and 100: 26. Movements in share capital Issu
Page 101 and 102: Assets and liabilities resulting fr
Page 103 and 104: 28. Related party transactions 1,00
Page 105 and 106: Amounts recognized in the income st
Page 107 and 108: 30. Employee share option and share
Page 109 and 110: Summary of outstanding and exercisa
Page 111: Share Purchase Plan (granted 2005,
Page 115 and 116: Company name Activity Domicile Shar
Page 117 and 118: Opinion In our opinion, the consoli
Page 119 and 120: Balance Sheets Assets 1,000 CHF Not
Page 121 and 122: 2.4 Risk assessment Sonova Holding
Page 123 and 124: in CHF 2007/08 Fixed fee Attendance
Page 125 and 126: Payments to former members of the B
Page 127 and 128: Shareholdings of the Management Boa
Page 129 and 130: Warrants EEAP 08 2) Options EEAP 07
Page 131 and 132: Company name Activity Domicile Shar
Page 133 and 134: Appropriation of Available Earnings
Page 135 and 136: Opinion In our opinion, the fi nanc
Page 137 and 138: Unitron Hearing B.V. Ir. D.S. Tuijn
Page 139 and 140: Disclaimer This report contains for
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ANNUAL REPORT 2008/09 - Sonova

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