ANNUAL REPORT 2008/09 - Sonova

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Sonova Holding AG Stäfa (CH) Switzerland Phonak AG Stäfa (CH) Phonak Acoustic Implants SA Lonay (CH) Phonak Communications AG Murten (CH) Phonak Hearing Systems AG Stäfa (CH) Indomed AG Zug (CH) Indomed Hearing Systems GmbH Stäfa (CH) CHF 2,500 99,3% CHF 1,000 100% CHF 500 100% CHF 100 100% CHF 1,000 100% CHF 20 100% 32 CORPORATE GOVERNANCE Europe (excluding Switzerland) Hansaton Akustische EUR 450 Geräte-Gesellschaft 100% m.b.H. Wals-Himmelreich (AT) Phonak Belgium NV Dilbeek (BE) EUR 15,311 100% Ets. Lapperre BHAC NV EUR 124 Groot-Bijgaarden (BE) 100% Phonak Danmark A/S Frederiksberg (DK) HIMSA A/S Copenhagen (DK) Phonak France SA Bron-Lyon (FR) DKK 17,300 100% DKK 1,000 25% EUR 305 100% Phonak GmbH EUR 25 Fellbach-Oeffi ngen (DE) 100% Unitron Hearing GmbH EUR 41 Fellbach-Oeffi ngen (DE) 100% Phonarium Szolgáltató Kft. Budapest (HU) Phonak Italia Srl Milan (IT) TRE S.A. Luxembourg (LU) Phonak B.V. Nieuwegein (NL) Unitron Hearing B.V. Vianen (NL) Phonak AS Oslo (NO) Unitron Hearing AS Oslo (NO) Phonak Polska Sp. Z o.o. Warsaw (PL) Phonak CIS Ltd. Moscow (RU) Phonak Ibérica S.A.U. Alicante (ES) Phonak AB Stockholm (SE) Unitron Hearing AB Stockholm (SE) Phonak Isitme Cihazlari Pazarlama ve Ticaret Anonim Sirketi Istanbul (TR) Phonak Group Ltd. Warrington (UK) HUF 5,000 49% EUR 1,040 100% EUR 31 100% EUR 227 100% EUR 18 100% NOK 900 100% NOK 100 100% PLN 100 100% RUB 4,000 100% EUR 7,000 100% SEK 200 100% SEK 100 100% TRL 500 60% GBP 2,500 100% Americas Phonak do Brasil – Sistemas Audiológicos Ltda. São Paulo (BR) National Hearing Services Inc. Victoria BC (CA) Phonak Canada Ltd. Mississauga (CA) Unitron Hearing Ltd. Kitchener (CA) Phonak Mexicana S.A. de C.V. México D.F. (MX) Phonak LLC Warrenville (US) Unitron Hearing, Inc. Plymouth (US) BRL 570 100% CAD 7,500 100% CAD 88,694 100% CAD 17,436 100% MXN 50 100% USD 1,250 100% USD 46,608 100% Asia/Pacifi c/Africa Hearing Retail Group Pty. Ltd. Sydney (AU) Phonak Pty. Ltd. Baulkham Hills (AU) Phonak (Shanghai) Co., Ltd. Shanghai (CN) Sichuan i-hear Co., Ltd. Sichuan (CN) Unitron Hearing (Suzhou) Co., Ltd. Suzhou (CN) Phonak India Pvt. Ltd. Navi Mumbai (IN) AUD 0.1 100% AUD 750 100% CNY 20,041 100% CNY 19,119 100% CNY 46,249 100% INR 100 100% Phonak Japan Co., Ltd. JPY 10,000 Tokyo (JP) 100% Unitron Hearing Korea Co., Ltd. Seoul (KR) Phonak New Zealand Ltd. Auckland (NZ) Indomed Singapore Pte Ltd. Singapore (SGP) Phonak Operation Center Vietnam Co., Ltd. Binh Duong (VN) Lukatit Investments 14 (Pty) Ltd. Fourways North (ZA) CHF 3,312 KRW 200,000 37,5% NZD 250 100% SGD 250 100% VND 8,796,000 100% ZAR 0.4 100% Share capital in local currency 1,000
Shareholders Registered shareholders As of March 31, the shareholdings of registered shareholders were distributed as follows: Number of shares Registered shareholders 31.3.2009 Registered shareholders 31.3.2008 1 – 100 5,418 4,685 101 – 1,000 9,761 8,149 1,001 – 10,000 1,656 1,522 10,001 – 100,000 167 147 100,001 – 1,000,000 26 28 > 1,000,000 Total registered 7 8 shareholders 17,035 14,539 Signifi cant shareholders The following overview shows the shareholdings of signifi - cant registered shareholders as of March 31: 2009 2009 2008 Number in % in % Beda Diethelm1) 7,262,500 10.97 10.77 Andy Rihs1) 7,059,100 10.66 10.73 Chase Nominees Ltd. 2) 6,414,472 9.69 10.74 Hans-Ueli Rihs1) Registered shareholders with interests 5,535,813 8.36 8.55 below 3 % 24,091,760 36.36 36.62 Not registered 15,866,939 23.96 22.59 Total shares 66,230,584 100.00 100.00 1) The founding shareholders Beda Diethelm, Andy Rihs and Hans-Ueli Rihs were already shareholders before the Initial Public Off ering in November 1994. There are no shareholders’ agreements between these persons. 2) Registered without voting rights. Further, the following shareholders of Sonova Holding AG have given notifi cations of shareholdings over 3%: FMR LLC has informed the company that they hold 5.12% of the share capital as of December 7, 2007. FIL Limited has informed the company that they hold 3.18% of the share capital as of March 24, 2009. The following overview shows the notifi ed shareholdings of FIL Limited in the reporting period: Date Purchase positions in % Sale positions in % March 17, 2009 3.18 0.53 February 9, 2009 below 3.00 November 11, 2008 3.17 MFS Investment Management has informed the company that they hold 3.09% of the share capital as of January 23, 2009. Barclays Plc & its subsidiaries have informed the company that they held over 3% of the share capital for a short time. The following overview shows the notifi ed shareholdings of Barclays Plc & its subsidiaries in the reporting period: Date Purchase positions in % August 29, 2008 below 3.00 July 15, 2008 4.90 Sale positions in % Credit Suisse Group has informed the company that they hold below 3% of the share capital as of April 2, 2008. Shareholder structure The following overview shows the shareholder structure by type of shareholder: Type 31.3.2009 31.3.2008 Individual shareholders 31 % 41 % Legal entities 25 % 13 % Nominees, fi duciaries 20 % 23 % Not registered 24 % 23 % Total 100 % 100 % The following overview shows the shareholder structure by origin of shareholder: Origin 31.3.2009 31.3.2008 Switzerland 40 % 38 % Europe (ex Switzerland) 32 % 31 % Americas 3 % 5 % Rest of the World 1 % 3 % Not registered 24 % 23 % Total 100 % 100 % Cross-shareholdings Sonova Holding AG has no cross-shareholdings with other companies. CORPORATE GOVERNANCE 33
Page 1 and 2: ANNUAL REPORT 2008/09 PIONEERS IN H
Page 3 and 4: AT A GLANCE Key Figures in 1,000 CH
Page 5 and 6: CONTENT 2 CHAIRMAN’S FOREWORD 4 C
Page 7 and 8: Andy Rihs and explain the advantage
Page 9 and 10: Dr. Valentin Chapero Rueda systems
Page 12 and 13: FINANCIAL YEAR 2008/09 SOLID GROWTH
Page 14 and 15: espectively in local currencies. Fi
Page 16: A hearing system helps children wit
Page 19 and 20: Given the unchanged megatrends, Son
Page 21 and 22: prehensive portfolio of hearing sys
Page 23: Naída IX Nios micro iSense The wir
Page 26 and 27: SUSTAINABILITY SUSTAINABLE COMMITME
Page 28 and 29: Professional development: the key t
Page 30 and 31: Sonova has a Group-wide set of supp
Page 32: Phonak’s SoundRecover technology
Page 35: Group structure Operational Group s
Page 39 and 40: The following overview shows the sh
Page 41 and 42: Shareholders’ participation right
Page 43 and 44: Heliane Canepa Member, non-executiv
Page 45 and 46: Work methods of the Board of Direct
Page 47 and 48: Paul Thompson GVP Corporate Develop
Page 49 and 50: Alexander Zschokke GVP Marketing Ha
Page 51 and 52: Auditors Duration of the mandate an
Page 53 and 54: CORPORATE GOVERNANCE 49
Page 57 and 58: CONTENT FINANCIAL REPORT 54 CFO’S
Page 59 and 60: 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
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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
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Share Purchase Plan (granted 2005,
Page 113 and 114:
34. Exchange rates The following ma
Page 115 and 116:
Company name Activity Domicile Shar
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Opinion In our opinion, the consoli
Page 119 and 120:
Balance Sheets Assets 1,000 CHF Not
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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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