Key figures - Schulthess Group

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EBIT (in CHF million) 15 12 9 6 3 0 1995 3.9 1996 6.5 Consolidated profit (in CHF million) 12 10 8 6 4 2 0 1995 2.0 1996 3.7 1997 8.6 1997 5.5 1998 12.9 1998 10.1 1999 14.7 1999 10.3 Non-operating income of know-how transfer as part of joint venture (1,8 CHF million) 6 In the Swiss home market, the Schulthess Group is striving towards a further consolidation and improvement in its market position and sales. Additional points of focus of the Schulthess Group lie in the product sector and in further modernization steps in production. The completion of the renewal of the commercial washing machine series and the enlargement of the largemargin Spirit topline line by new models and their introduction are at the centre of the range policy. In production, further notable investments are planned, especially in the manufacture of commercial machines. Thanks The overall result of the Schulthess Group is for the most part encouraging. The prospects with respect to the Group’s further development are promising. A motivated team of qualified employees has carried out this work and is confidently facing the future challenges. The Board is aware of its employees’ great performance and thanks them all for their untiring commitment, for their contribution towards the result and their positive attitude towards the company. We would like to thank you, our shareholders, for your confidence and loyalty towards the Schulthess Group. We are confident that we will be able to report on positive events, results and developments in the new business year too. Rudolf Kägi Chief Executive Officer (since January 1, 2000 also Chairman of the Board)
Financial review Schulthess Group Consolidated balance sheet in CHF 1,000 note 31.12.99 31.12.98 Assets Cash and cash equivalents 4,945 6,843 Marketable securities 3,359 2,405 Trade accounts receivable, net 3.1 23,712 18,486 Inventories 3.2 25,253 22,818 Prepaid expenses 629 607 Current assets 57,898 51,159 Property and plant 36,173 34,041 Equipment and vehicles 34,126 30,132 Intangible assets and goodwill 2,278 866 Financial investments 2,306 2,306 Accumulated depreciation –28,083 –24,675 Fixed assets 3.3 46,800 42,670 Total assets 104,698 93,829 Liabilities and shareholders’ equity Bank overdrafts 7,467 6,375 Trade accounts payable 6,048 5,405 Other current liabilities 2,610 1,351 Accrued expenses 3.4 10,636 9,054 Short-term liabilities 26,761 22,185 Long-term debt 3.5 8,468 9,547 Provisions 3.6 6,446 6,417 Deferred income taxes 3.7 15,316 15,129 Long-term liabilities 30,230 31,093 Share capital 8,500 8,500 Retained earnings and reserves 39,207 32,051 Shareholders’ equity 3.8 47,707 40,551 Total liabilities and shareholders’ equity 104,698 93,829 8
Page 1 and 2: Key figures Income statement (in CH
Page 3 and 4: Dear Shareholders, The Schulthess G
Page 5: Important cornerstones for future s
Page 9 and 10: Consolidated cash flow statement in
Page 11 and 12: 1.6 Translation of foreign companie
Page 13 and 14: 3.3 Fixed assets in CHF 1,000 Prope
Page 15 and 16: 4 Notes to the consolidated income
Page 17 and 18: 5 Further information as required u
Page 19 and 20: Financial review Schulthess Group A
Page 21 and 22: Income statement in CHF 1999 1998 M
Page 23 and 24: Report of the statutory auditors to
Page 25 and 26: Production philosophy Schulthess en
Page 27 and 28: The Schulthess Group’s objectives
Page 29 and 30: Information for investors Capital s
Page 31 and 32: Board and Management Schulthess Mas
Page 33 and 34: Schulthess Group companies Schulthe
Page 35: Schulthess Group AG Landstrasse 37

Key figures - Schulthess Group

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