Annual Report 2011 (5.07 MB, PDF-File) - Oerlikon

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104 Deferred taxes Key Figures Group Notes OC Oerlikon Corporation AG, Pfäffikon Notes to the consolidated financial statements Composition of deferred taxes 2011 2010 Deferred tax balances Deferred tax balances in CHF million Assets Liabilities Assets Liabilities Trade accounts receivable 4 2 1 1 Other receivables and accruals 2 26 3 10 Inventories 44 1 35 1 Financial assets 1 1 1 2 Property, plant and equipment 20 54 16 57 Intangible assets 3 111 4 114 Assets 74 195 60 185 Other current and long-term liabilities 11 18 8 18 Financial liabilities 7 1 5 2 Provisions 97 4 82 4 Liabilities 115 23 95 24 Deferred tax asset from recognized tax loss carry forwards 1 67 – 90 – Netting –145 –145 –132 –132 Total 111 73 113 77 1 In 2011 tax loss carry forwards of CHF 380 million for federal taxes and CHF 128 million for state/local taxes were recognized (previous year: CHF 483 for federal taxes and CHF 220 million for state/local taxes). Tax income of CHF 14 million (previous year: CHF 21 million) has been recognized in other comprehensive income. Utilization of tax loss carry forwards is limited as follows: in CHF million Tax losses not recognized as deferred tax assets Total tax loss carry forwards federal tax state/local tax federal tax state/local tax 1 year 4 4 4 4 2 years 7 2 10 6 3 years 5 4 7 4 4 years 40 45 53 45 5 years 18 2 188 16 over 5 years 440 356 632 466 Total 514 413 894 541 Compared to previous year tax loss carry forwards not recognized increased moderately (increase of CHF 8 million for federal taxes and CHF 67 million for state/local taxes). This was mainly caused by companies which generate non-recognizable losses. The deferred tax on unrecognized tax loss carry forwards would amount to CHF 90 million in 2011 (previous year: CHF 92 million). Note 5 (cont.)
Key Figures Group Notes OC Oerlikon Corporation AG, Pfäffikon Earnings per share Cash and cash equivalents Notes to the consolidated financial statements in CHF million 2011 2010 Net profit 224 5 Non-controlling interest 4 2 Net profit attributable to shareholders 220 3 Earnings per share in CHF 1 0.68 0.01 Diluted earnings per share in CHF 1 0.68 0.01 1 Earnings per share of CHF 0.68 has been calculated on the basis of a net profit of CHF 220 million attributable to shareholders (previous year: CHF 3 million) and the average weighted number of outstanding shares (issued shares less treasury shares). In 2011, the average weighted number of shares entitled to vote and receive dividends amounted to 322 718 881 (previous year: 206 792 397). Diluted earnings per share amounted to CHF 0.68. The average weighted number of shares used in the calculation of diluted earnings per share amounted to 322 718 881 (previous year: 206 792 397). Number of outstanding shares: 2011 2010 Total shares issued at year-end 323 124 010 323 085 471 Weighted average number of shares outstanding for the year 322 718 881 206 792 397 Effect of potential excercise of option rights – – Weighted average number of shares diluted for the year 322 718 881 206 792 397 in CHF million 2011 2010 Cash, postal and bank current accounts 584 665 Time deposits 158 86 Total 742 751 CHF 214 million (previous year: CHF 147 million) of total cash and cash equivalents are held in countries in which prior approval is required to transfer funds abroad. Nevertheless, if the Group complies with these requirements, such liquid funds are at its disposal within a reasonable period of time. Cash and cash equivalents are held in the following currencies: Currency in CHF million 2011 2010 CHF 265 346 EUR 188 212 USD 81 38 CNY 153 105 Others 55 50 Total 742 751 Note 6 Note 7 105
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on a new level Annual Report 2011
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Vision Oerlikon creates innovative
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Oerlikon’s Segments in brief Text
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On a new level 2011 was a year of s
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I. Operational review We achieved a
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Dear Shareholders, 2011 was a break
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Solid performance of Oerlikon share
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Remuneration Report Risk Management
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Achieving a new level of profitabil
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Dr. Michael Buscher, CEO Oerlikon G
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3.1 Oerlikon Textile 1. In 2011, Oe
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Turnaround time reduced by 40 % The
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Turnaround time reduced by 40 %
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Business development Oerlikon Drive
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Gary Lehman, CEO Oerlikon Drive Sys
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3.3 Oerlikon Vacuum 1. Oerlikon Vac
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Output improved by 30 % “For a lo
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Output improved by 30 %
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Business development In 2011, the s
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Helmut Frankenberger, CEO Oerlikon
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3.5 Oerlikon Coating 1. Oerlikon Co
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Productivity gains boost profitabil
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Productivity gains boost profitabil
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Business development Oerlikon Advan
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Andreas Dill, CEO Oerlikon Advanced
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4.0 Sustainability 1. Oerlikon prod
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48 When a fine spray of fuel is fir
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5.0 Compliance 1. In 2011, Oerlikon
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6.0 Corporate Governance Group stru
Page 72 and 73: 54 Letter Information for Investors
Page 76 and 77: 58 Stability and competence The Oer
Page 78 and 79: 60 Composition of the Board of Dire
Page 80 and 81: 62 Composition of Committees of the
Page 86 and 87: 68 Leadership and accountability Th
Page 88 and 89: 70 Composition of the Executive Com
Page 94 and 95: 7.0 Remuneration report In this rem
Page 96 and 97: 78 Compensation of non-executive me
Page 100 and 101: 82 Share options Letter Information
Page 102 and 103: 8.0 Risk management 1. The 2011 enh
Page 104 and 105: Contents I. Operational review 1.0
Page 107 and 108: Key Figures Group Notes OC Oerlikon
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Page 120 and 121: 102 Expenses included in EBIT Key F
Page 124 and 125: 106 Financial investments Key Figur
Page 126 and 127: 108 Property, plant and equipment i
Page 128 and 129: 110 Key Figures Group Notes OC Oerl
Page 130 and 131: 112 Intangible assets Previous year
Page 132 and 133: 114 Post-employment benefit provisi
Page 134 and 135: 116 Provisions in CHF million Key F
Page 136 and 137: 118 Liquidity risk Key Figures Grou
Page 138 and 139: 120 Credit risk Key Figures Group N
Page 140 and 141: 122 Market risk Key Figures Group N
Page 142 and 143: 124 Capital management Key Figures
Page 144 and 145: 126 Related Party transactions Key
Page 146 and 147: 128 Related Party transactions Memb
Page 148 and 149: 130 Segment information Key Figures
Page 150 and 151: 132 Companies by country Country Pr
Page 152 and 153: 134 Report of the Statutory Auditor
Page 166 and 167: Contents I. Operational review 1.0
Page 168 and 169: 9.0 Outlook for global markets Tren
Page 171: Remuneration Report Risk Management
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10.0 Research and development In 20
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166 Innovation highlights Oerlikon
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168 Oerlikon Vacuum MAGiNTEGRA: rob
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170 Oerlikon Coating INGENIA: the q
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11.0 Expanding the global footprint
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174 Oerlikon further expands in gro
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176 the greater the opportunity for
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Financial calendar March 5, 2012 An
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AB Applied Biosystems ∙ ABB ∙ A
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Annual Report 2011 (5.07 MB, PDF-File) - Oerlikon

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