Annual Report

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HUBER+SUHNER Annual Report 2010 · Part 2 Group Companies Companies at 31.12.2010 (all fully consolidated) Domicile Capital stock in 1000 Switzerland HUBER+SUHNER AG Herisau CHF 5 050 Parent company Ownership Purpose HUBER+SUHNER Finance AG Herisau CHF 2 800 100% � Australia HUBER+SUHNER (Australia) Pty Ltd. Frenchs Forest, New South Wales AUD 1 000 100% n Brazil HUBER+SUHNER América Latina Ltda. São José dos Campos BRL 3 519 100% � n Canada HUBER+SUHNER (Canada) Ltd. Ottawa CAD 2 350 100% China HUBER+SUHNER (Hong Kong) Ltd. Hongkong HKD 12 325 100% � n HUBER+SUHNER (Shanghai) Co. Ltd. 1) Shanghai CNY 4 139 100% n HUBER+SUHNER T&C (Shanghai) Co. Ltd. 1) Shanghai CNY 27 854 100% � n HUBER+SUHNER EEM (Shanghai) Co. Ltd. 1) Shanghai CNY 10 240 100% � Denmark HUBER+SUHNER A/S Vaerløse DKK 5 000 100% � n France HUBER+SUHNER (France) SAS Voisins-le-Bretonneux EUR 200 100% n Germany HUBER+SUHNER GmbH Taufkirchen EUR 3 068 100% � n India HUBER+SUHNER Electronics Pvt. Ltd. 2) Gurgaon INR 100 000 100% � n Malaysia HUBER+SUHNER (Malaysia) Sdn Bhd 3) Kuala Lumpur MYR 502 100% � n Netherlands HUBER+SUHNER B.V. Rosmalen EUR 200 100% Poland HUBER+SUHNER Sp. z o.o. Tczew PLN 1 875 100% � Singapore HUBER+SUHNER (Singapore) Pte Ltd. Singapur SGD 505 100% � n Sweden HUBER+SUHNER AB Stockholm SEK 16 000 100% n Thailand HUBER+SUHNER (Thailand) Co., Ltd. 3) Bangkok THB 25 000 100% n Tunisia HUBER+SUHNER (Tunisie) SARL Sousse TND 100 000 100% � United Kingdom HUBER+SUHNER (UK) Limited Bicester GBP 4 000 100% � n UAE HUBER+SUHNER Middle East Trading LLC Dubai AED 300 100% n USA HUBER+SUHNER (North America) Corp. Essex, Vermont USD 1 100% � HUBER+SUHNER, Inc. 4) Essex, Vermont USD 50 100% � n 1) Subsidiaries of HUBER+SUHNER (Hong Kong) Ltd. 2) Subsidiary HUBER+SUHNER Finance AG and HUBER+SUHNER B.V. 3) Subsidiaries of HUBER+SUHNER (Singapore) Pte Ltd. 4) Subsidiary HUBER+SUHNER (North America) Corp. � Holding/Finance companies � Production and assembly plants n Sales organisation 50 Notes to Group Financial Statements � n
Report of the Statutory Auditors HUBER+SUHNER AG Herisau Report of the statutory auditor to the general meeting on the consolidated financial statements 2010 Report of the statutory auditor on the consolidated financial statements As statutory auditor, we have audited the consolidated financial statements of HUBER+SUHNER AG, which comprise the income statement, statement of comprehensive income, balance sheet, cash flow statement, statement of shareholders’ equity and notes (pages 15 to 50), for the year ended December 31, 2010. Board of Directors’ Responsibility The Board of Directors is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the International Financial Reporting Standards (IFRS) and the requirements of Swiss law. This responsibility includes designing, implementing and maintaining an internal control system relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. The Board of Directors is further responsible for selecting and applying appropriate accounting policies and making accounting estimates that are reasonable in the circumstances. Auditor’s Responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with Swiss law and Swiss Auditing Standards as well as the International Standards on Auditing. Those standards require that we plan and perform the audit to obtain reasonable assurance whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers the internal control system relevant to the entity’s preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control system. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of accounting estimates made, as well as evaluating the overall Notes to Group Financial Statements HUBER+SUHNER Annual Report 2010 · Part 2 presentation of the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the consolidated financial statements for the year ended December 31, 2010 give a true and fair view of the financial position, the results of operations and the cash flows in accordance with the International Financial Reporting Standards (IFRS) and comply with Swiss law. Report on other legal requirements We confirm that we meet the legal requirements on licensing according to the Auditor Oversight Act (AOA) and independence (article 728 CO and article 11 AOA) and that there are no circumstances incompatible with our independence. In accordance with article 728a paragraph 1 item 3 CO and Swiss Auditing Standard 890, we confirm that an internal control system exists which has been designed for the preparation of consolidated financial statements according to the instructions of the Board of Directors. We recommend that the consolidated financial statements sub- mitted to you be approved. PricewaterhouseCoopers AG Christian Kessler Diego Alvarez Audit expert Audit expert Auditor in charge Winterthur, February 16, 2011 51
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
Page 17 and 18: Consolidated Income Statement Group
Page 19 and 20: Consolidated Cash Flow Statement Gr
Page 21 and 22: Notes to Group Financial Statements
Page 23 and 24: They are recognised in the balance
Page 25 and 26: Share-based payments Part of the co
Page 33 and 34: 10 Financial expense Notes to Group
Page 37 and 38: The movement in the amounts recogni
Page 39 and 40: Compensation of Board Members 2010
Page 41 and 42: 19 Cash and cash equivalents Notes
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: 38 Earnings per share Notes to Grou
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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