ANNUAL REPORT 2008/09 - Sonova

Notes to the Consolidated Financial Statements
as of March 31, 2009
1. Corporate information
The Sonova Group (the “Group”) specializes in
the design, development, manufacture, worldwide
distribution and service of technologically
ad vanced hearing systems for adults and children
with hearing impairment. The Group operates
worldwide and distributes its products in over 90
countries through its own distribution network
and through independent distributors. The ultimate
parent company is Sonova Holding AG, a limited
liability company incor porated in Switzerland.
Sonova Holding AG’s registered offi ce is located at
Laubisrütistrasse 28, 8712 Stäfa, Switzerland.
2. Changes in accounting policies
The following amendments and interpretations to
IFRS have been adopted by the Group as of April 1,
2008 without having any signifi cant impact on
the consolidated fi nancial statements 2008/09:
IFRIC 12 “Service Concession Arrangements”
Amendments to IAS 39 and IFRS 7 “Financial Instruments:
Disclosures”, Amendments to IFRIC 9 and
IAS 39 “Embedded Derivatives”.
In addition the Group has implemented IFRIC 14
“The Limit of a Defi ned Benefi t Asset, Minimum
Funding Requirements and their Interaction” as of
April 1, 2008. The impact from the retrospective
application from this interpretation is summarized
in the table below. The application had no impact
on the income statements and earnings per share.
1,000 CHF
64 CONSOLIDATED FINANCIAL STATEMENTS
The following new or revised IFRS Standards and
Interpretations will become eff ective for fi nancial
periods beginning on or after July 1, 2008 and
have not yet been applied:
– IAS 1 (revised) “Presentation of Financial
Statements” (eff ective January 1, 2009)
– IAS 23 (revised) “Borrowing Costs”
(eff ective January 1, 2009)
– IAS 27 (revised) “Consolidated and Separate
Financial Statements” (eff ective July, 1, 2009)
– IFRS 2 (amended) “Share-based Payments”
(eff ective January 1, 2009)
– IFRS 3 (revised) “Business Combinations”
(eff ective July 1, 2009)
– IFRS 8 “Operating Segments”
(eff ective January 1, 2009)
– IFRIC 13 “Customer Loyalty Programmes”
(eff ective July 1, 2008)
– IFRIC 15 “Agreements for the Construction of
Real Estate” (eff ective January 1, 2009)
– IFRIC 16 “Hedges of a Net Investment in a
Foreign Operation” (eff ective October 1, 2008)
– IFRIC 17 “Distribution of Non-cash Assets to
Owners” (eff ective July 1, 2009)
– Improvements to IFRSs, Clarifi cations of existing
IFRSs (eff ective January 1, 2009)
As originally
published
Application
of IFRIC 14 Restated
At April 1, 2007
Employee benefi t assets 4,634 4,634
Deferred tax liabilities 39,408 649 40,057
Total equity attributable to equity holders of Sonova Holding AG 891,162 3,958 895,120
Minority interests 3,525 27 3,552
At March 31, 2008
Employee benefi t assets 919 919
Deferred tax liabilities 34,414 129 34,543
Total equity attributable to equity holders of Sonova Holding AG 914,366 785 915,151
Minority interests 4,698 5 4,703