Annual Report
Annual Report
Annual Report
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HUBER+SUHNER <strong>Annual</strong> <strong>Report</strong> 2010 · Part 2<br />
Members of the Board of Directors and the Executive Group Management as well as persons closely related to them are<br />
not and were not related to HUBER+SUHNER AG or any of its subsidiaries.<br />
As of 31 December 2010, HUBER+SUHNER AG and its subsidiaries had no guarantees or outstanding loans, advances or<br />
credits to members of the Board of Directors or the Executive Group Management or to parties closely related to them.<br />
Compensation of former directors and executives<br />
No compensation was paid to former directors and executives in the actual and in the prior year.<br />
Relationship with pension fund<br />
HUBER+SUHNER AG did not charge any services to the pension fund in the year 2010 (previous year, CHF 0.2 million).<br />
At the reporting date, the company’s liabilities to the pension funds amount similar to 2009 to CHF 0.1 million.<br />
16 Depreciation, amortisation and impairment<br />
Depreciation, amortisation and impairment expenses included in the income statement amount to:<br />
2010 2009<br />
Depreciation on PP&E and investment property 34 066 26 308<br />
Impairment/(reversal impairment) on PP&E (593) 1 082<br />
Total depreciation and impairment on PP&E and investment property 33 473 27 390<br />
Amortisation on intangible assets 6 381 2 292<br />
Impairment on financial assets 103 262<br />
Total depreciation, amortisation and impairment 39 957 29 944<br />
as % of net sales 5.0% 4.7%<br />
17 EBITDA<br />
2010 2009<br />
EBIT 101 846 53 242<br />
+ Depreciation on PP&E and investment property 34 066 26 308<br />
+ Amortisation on intangible assets 6 381 2 292<br />
+ Impairment/(reversal impairment) on PP&E and financial assets (490) 1 344<br />
EBITDA 141 803 83 186<br />
as % of net sales 17.7% 13.2%<br />
18 Liabilities from operating lease<br />
The Group leases a number of offices, warehouses and cars under non-cancellable operating lease contracts.<br />
Liabilities from operating lease 2010 2009<br />
Less than 1 year 4 387 3 843<br />
Between 1 and 5 years 5 160 5 089<br />
After 5 years 71 524<br />
Total liabilities from operating lease 9 618 9 456<br />
All amounts are in CHF 1000<br />
38 Notes to Group Financial Statements