ANNUAL REPORT 2008/09 - Sonova

Tangible assets (buildings, plant and equipment) as of 31.3.2009 were insured against fi re for a value of
CHF 315.5 million (previous year CHF 279.4 million).
Pledged assets amounted to CHF 0.5 million (previous year CHF 1.0 million).
There are no assets held under fi nance leases.
Advance payments and capital expenditures for land and buildings as well as plant and equipment under
construction in the current fi nancial year amounted to CHF 17.5 million (previous year CHF 4.1 million).
17. Investments in associates/joint ventures
The Group’s share in the results as well as in assets and liabilities of associates/joint ventures, all unlisted
enterprises, is as follows:
1,000 CHF 2008/09 2007/08
Current assets 10,501 14,596
Non-current assets 10,007 19,720
Total assets 20,508 34,316
Current liabilities (8,814) (14,621)
Non-current liabilities (4,940) (11,397)
Total liabilities (13,754) (26,018)
Net assets 6,754 8,298
Income for the year 42,381 45,652
Expenses for the year (43,292) (49,779)
Loss for the year (911) (4,127)
Net book value as at year end 35,843 37,229
Share of loss recognized by the Group (2,075) (1,646)
In the fi nancial year 2008/09, several acquisitions of investments in associates have been undertaken
for a total purchase consideration of CHF 4.7 million (previous year CHF 4.7 million).
Sales to associates and joint ventures in the fi nan cial year 2008/09 amounted to CHF 11.9 million
(previous year CHF 13.9 million).
At March 31, 2009 accounts receivable from associates and joint ventures amounted to CHF 3.1 million
(previous year CHF 3.0 million).
Investments with a net book value of CHF 35.8 million (previous year 37.2 million) have a business year
diff erent than the Sonova Group. The latest available information for the respective companies vary
between December 2008 and February 2009.
As of April 26, 2007 the 25% investment in Cochlear Acoustics Ltd. has been sold to its majority shareholder.
As part of the sale the Group has acquired some intellectual property rights. These intellectual
property rights are used in the development of middle ear implants.
CONSOLIDATED FINANCIAL STATEMENTS
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