Annual Report 2011

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56 Financial Report –– Financial Report __ 57 Financial commentary __ 61 Consolidated financial statements 61 Consolidated income statement 61 Consolidated statement of comprehensive income 62 Consolidated balance sheet 63 Consolidated cash flow statement 64 Consolidated statement of shareholders' equity 65 Starrag Group 69 Key accounting principles 73 Segment information 74 Notes to the income statement 76 Notes to the balance sheet 82 Other notes 90 Report of the statutory auditor on the consolidated financial statements __ 92 Income statement 92 Financial statements 93 Balance sheet 94 Notes 96 Proposed appropriation of retained earnings 97 Report of the statutory auditor on the financial statements __ 99 Five-year overview
Financial Commentary Net profit of CHF 10.9 million, EPS of CHF 3.52 (+8 %) Acquisition of Dörries Scharmann Group for CHF 85.7 million in January 2011 Order intake of CHF 348 million corresponds to organic growth of 18 % (in local currency and inclusion of Dörries Scharmann on a pro forma basis) Starrag Group Annual Report 2011 57 –– Significant increase in order intake and profitability, balance sheet strength sustained Operating margin widens to 5.4 %, return on equity of 7.1 % Share capital increased to refinance the acquisition of Dörries Scharmann, maintaining a sound capital base with an equity ratio of 54.1 % Dividend of CHF 1.20 per share paid from capital contribution reserves and therefore not subject to Swiss withholding tax CHF m 2011 2010 Change Order intake 348.3 188.3 +85 % Order backlog 237.5 103.9 +129 % Sales revenue 354.4 199.2 +78 % Operating profit EBIT 19.1 10.1 +89 % Net income 10.9 8.1 +34 % Return on equity 7.1 % 7.5 % +21 % Earnings per share (in CHF) 3.52 3.27 +8 % Employees at year end 1’420 739 +92 % Share price at year end 49.55 69.00 -28 %
Page 1 and 2:
Starrag Group Annual Report 2011
Page 3 and 4:
Berthiez Dörries Droop+Rein Hecker
Page 5 and 6: High-precision machine tools for gr
Page 7 and 8: Asia - the market of the future Sta
Page 9 and 10: At a glance Order intake Order back
Page 11 and 12: Share price 90 80 70 60 50 40 30 20
Page 13 and 14: Starrag Group New look, new image W
Page 15 and 16: Swiss Equity Award received In Sept
Page 17 and 18: the integration of diverse machines
Page 19 and 20: ness cycle. The Starrag Group is th
Page 21 and 22: High precision cylindrical grinding
Page 23 and 24: Synonymous with high performance la
Page 25 and 26: Complete machining solutions with s
Page 27 and 28: Productive precision for complex pa
Page 29 and 30: Machining centers for emerging mark
Page 31 and 32: The newly formed Starrag Group will
Page 33 and 34: was roughly unchanged from the prev
Page 35 and 36: operations we broadened the monthly
Page 37 and 38: standards. We collect information o
Page 39 and 40: Group structure and shareholders Ma
Page 41 and 42: The registered shares of StarragHec
Page 43 and 44: Distribution of profit can be decid
Page 45 and 46: He was elected Chairman of the Boar
Page 47 and 48: Executive Board Members of the Exec
Page 49 and 50: Günther Eller (1960, Swiss) has be
Page 51 and 52: Daniel Rosenthal (1970, German) has
Page 53 and 54: Shareholders’ participation and p
Page 55: Information policy The company info
Page 59 and 60: On a comparable basis, EBIT was exp
Page 61 and 62: Consolidated income statement Starr
Page 63 and 64: Consolidated cash flow statement CH
Page 65 and 66: Starrag Group High-precision machin
Page 67 and 68: The operating activities of these B
Page 69 and 70: Key accounting principles Basis of
Page 71 and 72: companies’ staff is in accordance
Page 73 and 74: Segment information 1. Reporting by
Page 75 and 76: 7. Depreciation and amortization 8.
Page 77 and 78: 11. Other financial assets 12. Inve
Page 79 and 80: 16. Financial liabilities CHF 1’0
Page 81 and 82: 20. Share capital The following reg
Page 83 and 84: 24. Pension benefits Starrag Group
Page 85 and 86: 25. Income tax The anticipated tax
Page 87 and 88: 29. Other commitments CHF 1’000 3
Page 89 and 90: Net assets and goodwill arising fro
Page 91 and 92: StarragHeckert Holding AG Annual Re
Page 93 and 94: Balance sheet Starrag Group Annual
Page 95 and 96: 4. Sureties, guarantees and pledges
Page 97 and 98: Report of the statutory auditor Sta
Page 99 and 100: Five-year overview Starrag Group An
Page 101 and 102: Credits Publisher StarragHeckert Ho
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Annual Report 2011

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