Annual Report 2010 (PDF, 5.2MB) - Panalpina Annual Report 2012

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Consolidated and Annual Financial Statements 2010 130 The following table shows the equity holdings in Panalpina World Transport (Holding) Ltd. (PWT) of key management personnel and their related parties in line with article 663b bis and 663c of the Swiss Code of Obligations. Number of options Number of PWT (End of vesting period) nominal shares 2012 2013 2014 Board of Directors Rudolf W. Hug, Chairman 7,935 1,200 1,325 2,020 Guenter Rohrmann, Vice Chairman 2,820 2,020 Roger Schmid, Member 9,375 1,800 1,325 Total on 31 December 2010 20,130 3,000 2,650 4,040 Executive Board Monika Ribar, Chief Executive Officer 21,063 1,800 1,325 2,020 Christoph Hess, General Counsel and Corporate Secretary 3,000 600 600 1,000 Karl Weyeneth, Chief Operating Officer 5,315 0 497 303 Marco Gadola, Chief Financial Officer 2,572 1,800 1,325 2,020 Alastair Robertson, Chief Human Resources 2,200 0 0 200 Total on 31 December 2010 34,150 4,200 3,747 5,543 Total on 31 December 2010 54,280 7,200 6,397 9,583 Number of options Number of PWT (End of vesting period) nominal shares 2012 2013 2014 Board of Directors Rudolf W. Hug, Chairman 7,935 1,200 1,325 2,020 Wilfried Rutz, Vice Chairman 12,795 1,800 1,325 2,020 Guenther Casjens, Member 13,175 1,200 1,325 1,500 Yuichi Ishimaru, Member 15,542 1,800 1,325 2,020 Glen R. Pringle, Member 4,040 1,800 995 990 Roger Schmid, Member 9,375 1,800 1,325 0 Guenter Rohrmann, Member 2,820 0 0 2,020 Total on 31 December 2009 65,682 9,600 7,620 10,570 Executive Board Monika Ribar, Chief Executive Officer 17,479 1,800 1,325 2,020 Christoph Hess, General Counsel and Corporate Secretary 4,218 600 600 1,000 Sandro Knecht, Chief Marketing and Sales and Supply Chain Management Officer 6,538 670 497 1,000 Dominik Tichelkamp, Chief Product and Procurement Officer 2,255 446 373 900 Karl Weyeneth, Chief Operating Officer 2,479 0 497 303 Marco Gadola, Chief Financial Officer 8,318 1,800 1,325 2,020 Alastair Robertson, Chief Human Resources 1,400 0 0 200 Total on 31 December 2009 42,687 5,316 4,617 7,443 Total on 31 December 2009 108,369 14,916 12,237 18,013 Shareholders, pension funds, associated companies and all subsidiaries are defined as parties related to the Group. Apart from the transactions with related parties mentioned above, we refer to notes 7 and 8. Panalpina Annual Report 2010
Consolidated and Annual Financial Statements 2010 30 Business combinations / disinvestments On 1 November 2010, Panalpina World Transport (Pty) Ltd. in Sydney purchased defined tangible and intangible assets and acquired the business of Apollo Forwarding in Adelaide, South Australia. Apollo and Panalpina have been close partners for more than 10 years. During that time, Apollo Adelaide has acted as agent of Panalpina. The purchase enables Panalpina to further enlarge the geographical office coverage in Oceania and widen the customer base. In addition to being a well established customs broker, Apollo Adelaide also provides international freight forwarding services to its South Australia based customers who now gain access to Panalpina’s global network. Tangible assets acquired include mainly office equipment and vehicles. Intangible assets include mainly customer relationship. In 2009, there were no business combinations, nor were any significant subsidiaries sold. Details of net assets acquired and goodwill are as follows: in thousand CHF 2010 2009 131 Purchase consideration – Cash paid 2,384 0 Total purchase consideration 2,384 0 Fair value of net assets acquired (980) 0 Goodwill 1,404 0 The goodwill is attributable to market knowledge and experience of the acquired employees, the profitability of the acquired business and the synergies expected to arise after the Group’s acquisition. The assets and liabilities arising from the acquisition are the following: Revaluation Acquiree’s due to purchase Fair value Fair value in thousand CHF carrying amount accounting 2010 2009 Property, plant and equipment 134 0 134 0 Intangible assets 2 844 846 0 Net assets 136 844 980 0 Goodwill 1,404 0 Total cash flow from acquisition of businesses 2,384 0 31 Additional information Contractual commitments on non-cancellable operating lease contracts 2010 2009 in thousand CHF Less than one year 137,768 123,585 Between one and five years 283,793 217,174 More than five years 116,535 105,392 Total residual commitments 538,096 446,151 Included in the residual lease commitments is an operating lease contract for aircrafts of CHF 76.8 million (2009: CHF 30.2 million), leased by Panalpina Air & Ocean Ltd. The contract with a one-year notice period was renewed in 2010 for the first aircraft until 31. August 2012. In 2010 a second aircraft was leased with a period at least until 30. September 2012. Pledged assets As of the statement of financial position date 2010 and 2009, the Group does not have any pledged assets. Pending legal claims Introduction In addition to the matters discussed in note 4 - Provisions, from time to time the Group is involved in legal proceedings in the ordinary course of its business. Other than as noted below, the Group is not a party to any legal, administrative or arbitration proceedings which could significantly harm the Group’s business, financial condition and results of operations taken as a whole, and it does not know of any such proceedings which may currently be contemplated by governmental or third parties. Panalpina Annual Report 2010
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Glossary Tonnage A ship’s freight
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Contents Introduction 4 An Intervie
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Our products continue to play a maj
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Talking of Dubai, there have been i
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9 exported by these firms, instead
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Reports of the Board of Directors a
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21 Executive Board From the left: M
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outh America Asia Pacific Europe Af
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Reporting Regions market share in S
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Central and South America Promising
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Reporting Regions Express air freig
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Air Freight Ocean Freight Logistics
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Core Activities Ocean Freight Panal
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Core Activities Overland haulage is
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il and Fashion Oil and Gas Industri
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Customer Groups Customer case Coope
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Customer Groups Customer case Conva
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Customer Groups Customer case Toshi
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Customer Groups Customer case Saxon
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Customer Groups Customer case Duty
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Customer Groups 49 Panprojects The
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Sustainable Growth Quality, Securit
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55 Environmental initiatives Panalp
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Sustainable Growth Activities 1 Per
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59 over the course of the next twel
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61 fully and correctly. The selecti
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Sustainable Growth Social Commitmen
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Sustainable Growth 1.3 Cross-shareh
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Sustainable Growth Distribution Pol
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Sustainable Growth at these meeting
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Sustainable Growth Alastair Roberts
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Sustainable Growth 75 www.panalpina
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Annual Report 2010 (PDF, 5.2MB) - Panalpina Annual Report 2012

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