Siegfried Annual Report 2009

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Key numbers Siegfried Group 2009 2008 Change Net sales (million CHF) 283.0 289.3 –2.2% Net loss (million CHF) –35.3 –74.9 –52.9% Gross profit (million CHF) 47.5 62.4 –23.9% Operating result before special charges (million CHF) –7.3 14.8 n.a. Operating margin before special charges (%) –2.6% 5.1% Operating result (EBIT) (million CHF) –27.7 –84.7 –67.3% Operating margin (EBIT) (%) –9.8% –29.3% Cash flow from operating activities (million CHF) 45.5 26.8 69.4% EBITDA before special charges (million CHF) 25.3 52.0 –51.4% EBITDA margin before special charges (%) 8.9% 18.0% EBITDA (million CHF) 21.0 52.0 –59.6% EBITDA margin (%) 7.4% 18.0% Shareholder’s equity (million CHF) 327.3 352.0 –7.0% Total assets (million CHF) 477.1 539.5 –11.6% Equity as a % of total assets 68.6% 65.2% Capital expenditure (million CHF) 20.8 30.5 –31.7% Personnel expenses (million CHF) 101.3 98.4 3.0% Employees 1 823 826 –0.4% Dividend (million CHF) 2 – 5.9 Dividend (CHF per share) 2 – 2.10 Development of base business 3 Net sales (million CHF) 283.0 275.8 2.6% Operating result before special charges (million CHF) 6.1 2.2 138.6% Operating margin before special charges (%) 2.1% 0.8% EBITDA before special charges (million CHF) 37.1 38.4 –3.5% EBITDA margin before special charges (%) 13.1% 13.9% 1 at balance sheet date 2 For 2009 as per proposal to the general meeting of shareholders on a maxiumum of 2 800 000 shares ranking for dividend (dividends on treasury shares not paid to shareholders will be carried forward) 3 Development of base business excluding expenses for the build up of the Inhalation technology. Prior year additionally excluding gain from sale of fixed assets (Arena) and nonrecurring licensing fees.
Table of Contents 2009 Overview Letter from Chairman & CEO 2 Corporate Governance 0. Foreword and General Framework 13 1. Structure of the Siegfried Group 14 2. Capital Structure 17 3. Board of Directors 18 4. Executive Management 29 5. Compensation, Investments and Loans 33 6. Voting rights and proxy 35 7. Control changes and defensive measures 36 8. Auditors 36 9. Information policy 37 Sustainability Report Introduction 41 Compliance 46 Safety, Health & Environment (SHE) 48 Siegfried as an Employer 60 Social Responsibility 63 Consolidated Financial Statements Siegfried Holding AG Editorial 66 Consolidated Balance Sheet 68 Consolidated Income Statements 69 Consolidated Cash Flow Statements 68 Consolidated Income Statement 69 Consolidated Statement of Comprehensive Income 69 Consolidated Statement of Cash Flows 70 Consolidated Statement of Changes in Equity 71 Notes to the Consolidated Financial Statements 72 Employee Benefits 77 Risk Management 78 Financial Risk Management 79 Report of the Statutory Auditor 104 Five-year overview 2005–2009, consolidated figures 105 Financial Statements Siegfried Holding AG Balance Sheet of Siegfried Holding AG 108 Income Statement of Siegfried Holding AG 109 Notes to the Financial Statements of Siegfried Holding AG 109 Proposal for the appropriation of accumulated losses and free reserves 112 Report of the Statutory Auditors 113 Stock market data 114 Share price development 114 Cautionary statement regarding forward-looking statements 115 Publisher’s note 116
Page 1 and 2: Siegfried Annual Report 2009
Page 6 and 7: Letter from the Chairman & CEO Dear
Page 8 and 9: preconditioning the physical charac
Page 10 and 11: eaching 25% by the end of 2009. Pro
Page 12 and 13: election. Bernard Siegfried first j
Page 15 and 16: Roland Schuermann Head Chemical Ope
Page 17 and 18: 0. Foreword and general framework R
Page 19 and 20: Participation structure of Siegfrie
Page 21 and 22: 2. Capital structure 2.1 Capital Th
Page 23 and 24: Name Birthyear Position Entry Elect
Page 25 and 26: Bernard A. Siegfried, Ph.D., Honora
Page 27 and 28: Malcolm Perkins Malcolm Perkins (19
Page 29: 3.6 Executive management informatio
Page 32 and 33: Group Management From left to right
Page 34 and 35: 4.2 Portraits Dr. Rudolf Hanko, CEO
Page 36 and 37: Marianne Späne, President Siegfrie
Page 38 and 39: 4.3 Management Contracts Siegfried
Page 40 and 41: Shareholders with at least 250,000
Page 43 and 44: Dr. Tanja Westphal Manager Pharmace
Page 45 and 46: IntroductionSituation ‘Sustainabi
Page 47: 2009 Audits Site Inspections (Custo
Page 50 and 51: Compliance Introduction Siegfried i
Page 52 and 53: Our goal is to cultivate a quality
Page 54 and 55:
External audits During 2009, nation
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the Siegfried teams pedaled the dis
Page 58 and 59:
Energy consumption 2009 2008 2007 2
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Water consumption Water consumption
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Reclaimed solvents 2009 2008 2007 2
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Fines and non-monetary penalties Si
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Total workforce by region as of Dec
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Ken Zrebiec Director of Operations
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elated to the Deliver project. In a
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Consolidated income statement In 10
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Consolidated statement of changes i
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Reclassification of Balance sheet J
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exchange rates prevailing on the tr
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of discounted future cash flows. Va
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production overheads related to the
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Financial risk management Financial
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to 20.5% (2008: 17.7%) and 13.4% (2
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ealized, the obligation to eliminat
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2. Property, plant and equipment La
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4. Investments in associated compan
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6. Financial and other non-current
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8. Inventories In 1 000 CHF 2009 20
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13. Treasury shares Treasury shares
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19. Employee benefits and personnel
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The following table shows how the a
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CHF 1.2 million) were purchased fro
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In addition to sales of products ne
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Five-year overview 2005 - 2009, con
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Financial Statements Siegfried Hold
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Transparency Law Art. 663b and Art.
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Siegfried Group, in which the risks
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Stock market data 2009 2008 2007 20
Page 120:
Publisher’s note This annual repo
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Siegfried Annual Report 2009

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