Annual Report

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HUBER+SUHNER Annual Report 2010 · Part 2 Members of the Board of Directors and the Executive Group Management as well as persons closely related to them are not and were not related to HUBER+SUHNER AG or any of its subsidiaries. As of 31 December 2010, HUBER+SUHNER AG and its subsidiaries had no guarantees or outstanding loans, advances or credits to members of the Board of Directors or the Executive Group Management or to parties closely related to them. Compensation of former directors and executives No compensation was paid to former directors and executives in the actual and in the prior year. Relationship with pension fund HUBER+SUHNER AG did not charge any services to the pension fund in the year 2010 (previous year, CHF 0.2 million). At the reporting date, the company’s liabilities to the pension funds amount similar to 2009 to CHF 0.1 million. 16 Depreciation, amortisation and impairment Depreciation, amortisation and impairment expenses included in the income statement amount to: 2010 2009 Depreciation on PP&E and investment property 34 066 26 308 Impairment/(reversal impairment) on PP&E (593) 1 082 Total depreciation and impairment on PP&E and investment property 33 473 27 390 Amortisation on intangible assets 6 381 2 292 Impairment on financial assets 103 262 Total depreciation, amortisation and impairment 39 957 29 944 as % of net sales 5.0% 4.7% 17 EBITDA 2010 2009 EBIT 101 846 53 242 + Depreciation on PP&E and investment property 34 066 26 308 + Amortisation on intangible assets 6 381 2 292 + Impairment/(reversal impairment) on PP&E and financial assets (490) 1 344 EBITDA 141 803 83 186 as % of net sales 17.7% 13.2% 18 Liabilities from operating lease The Group leases a number of offices, warehouses and cars under non-cancellable operating lease contracts. Liabilities from operating lease 2010 2009 Less than 1 year 4 387 3 843 Between 1 and 5 years 5 160 5 089 After 5 years 71 524 Total liabilities from operating lease 9 618 9 456 All amounts are in CHF 1000 38 Notes to Group Financial Statements
19 Cash and cash equivalents Notes to Group Financial Statements HUBER+SUHNER Annual Report 2010 · Part 2 2010 2009 Cash at bank and on hand 135 675 112 490 Term deposits in CHF 13 892 14 545 Term deposits in EUR 3 963 2 593 Term deposits in USD 0 4 524 Term deposits in RMB 7 205 0 Term deposits in other currency 2 415 1 983 Total cash and cash equivalents 163 150 136 135 20 Marketable securities 2010 2009 Equity securities Switzerland 3 665 3 509 Equity securities foreign 3 361 3 090 Bonds in CHF 5 108 5 434 Bonds in EUR 0 1 165 Bonds in other currency 0 857 Real estate funds 2 615 1 153 Other marketable securities 27 991 27 076 Total marketable securities 42 740 42 284 Also included in other marketable securities are fixed-term deposits with a maturity of greater than 3 months. At the 2010 year-end, the value of the term deposits was CHF 25.0 million (previous year, CHF 25.0 million). 21 Trade receivables Trade receivables can be classified into current and overdue depending on the individually agreed conditions with customers. The following table shows the aging structure at the balance sheet date: 2010 2009 Current 118 295 92 068 Overdue for 1–30 days 16 009 13 950 Overdue for 31–60 days 2 388 7 515 Overdue for 61–90 days 1 579 2 415 Overdue for 91–120 days 508 415 Overdue over 120 days 1 678 3 811 Total trade receivables, gross 140 457 120 174 Provision for doubtful debts (1 706) (3 437) Total trade receivables, net 138 751 116 737 At the year-end 2010 the overdue trade receivables amount to CHF 22.2 million (previous year, CHF 28.1 million), of which CHF 1.5 million (7%) were impaired (previous year, CHF 3.3 million or 12%). The provisions for doubtful debts are based on the aging structure and recent history of default. 2010 2009 Balance at 1.1. (3 437) (2 064) Provisions for doubtful debts on trade receivables (307) (2 195) Utilisation of provisions 578 407 Releases of provisions 1 249 438 Currency translation differences 211 (23) Balance at 31.12. (1 706) (3 437) Effective losses on doubtful debts in the business years 2010 and 2009 were below 0.1% of net sales. 39
Page 1 and 2: HUBER+SUHNER Annual Report 2010 ·
Page 3 and 4: Annual Report 2010 · Part 2 Corpor
Page 5 and 6: HUBER+SUHNER AG has published three
Page 7 and 8: Standing committees, composition an
Page 9 and 10: Paul Harris Chief Operating Officer
Page 11 and 12: The Board of Directors has approved
Page 13 and 14: Financial Report 2010 HUBER+SUHNER
Page 15 and 16: Commentary on the Financial Report
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Page 21 and 22: Notes to Group Financial Statements
Page 23 and 24: They are recognised in the balance
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Page 39: Compensation of Board Members 2010
Page 43 and 44: Changes in inventory provision 2009
Page 45 and 46: Property, plant and equipment 2009
Page 49 and 50: 34 Current liabilities (non-interes
Page 51 and 52: 38 Earnings per share Notes to Grou
Page 53 and 54: Report of the Statutory Auditors HU
Page 55 and 56: Financial Report 2010 Financial Sta
Page 57 and 58: Balance Sheet (before appropriation
Page 59 and 60: 2 Securities granted to third parti
Page 61 and 62: Report of the Statutory Auditors HU
Page 63 and 64: Financial Calendar Financial year 2
Page 65 and 66: Publisher’s Information Concept a

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