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

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142 Investments Key Figures Group Notes OC Oerlikon Corporation AG, Pfäffikon Notes to the financial statements of OC Oerlikon Corporation AG, Pfäffikon Company Currency Share Capital Investment in % Aktiengesellschaft Adolph Saurer, Arbon/CH CHF 10 000 000 100.00 InnoDisc AG, Windisch/CH CHF 100 000 100.00 OC Oerlikon Balzers AG, Balzers/LI CHF 30 000 000 100.00 OC Oerlikon Management AG, Pfäffikon, Freienbach SZ/CH CHF 2 000 000 100.00 Oerlikon Balzers Coating India Ltd., Pune/IN INR 70 000 000 78.40 Oerlikon Balzers Coating (Suzhou) Co. Ltd., Suzhou/CN USD 6 150 000 100.00 Oerlikon Balzers Coating (Thailand) Co. Ltd., Chonburi/TH THB 80 000 000 99.99 Oerlikon Balzers Coating Austria GmbH, Kapfenberg/AT EUR 350 000 100.00 Oerlikon Balzers Coating Italy S.p.A., Brugherio/IT EUR 130 000 100.00 Oerlikon Balzers Coating Korea Co. Ltd., Pyongtaek/KR KRW 6 300 000 000 89.10 Oerlikon Balzers Coating Luxembourg S.à r.l., Differdange-Niedercorn/LU EUR 1 000 000 60.00 Oerlikon Balzers Coating Poland Sp.z o.o., Polkowice Dolne/PL PLN 5 000 000 100.00 Oerlikon Balzers Coating SA, Brügg, Brügg/CH CHF 2 000 000 100.00 Oerlikon Balzers Coating Singapore Pte. Ltd., Singapore/SG SGD 6 000 000 100.00 Oerlikon Balzers Coating UK Ltd., Milton Keynes/UK GBP 2 000 000 100.00 Oerlikon Balzers Kaplama Sanayi ve Ticaret Limited Sirketi, Bursa/TR TRY 2 500 000 99.99 Oerlikon Balzers Revestimentos Metálicos Ltda., Jundiaí, SP/BR BRL 30 662 100 99.99 Oerlikon Balzers Sandvik Coating AB, Stockholm/SE SEK 11 600 000 51.00 Oerlikon Balzers-ELAY Coating S.A., Antzuola/ES EUR 150 000 100.00 Oerlikon Deutschland Holding GmbH, Köln/DE EUR 30 680 000 6.00 Oerlikon France Holding SAS, St. Thibault des Vignes/FR EUR 4 000 000 100.00 Oerlikon IT Solutions AG, Pfäffikon, Freienbach SZ/CH CHF 500 000 100.00 Oerlikon Leybold Vacuum Taiwan Ltd., Hsinchu/TW TWD 20 000 000 100.00 Oerlikon Licensing Arbon GmbH, Arbon/CH CHF 20 000 100.00 Oerlikon Nihon Balzers Coating Co. Ltd., Hiratsuka/JP JPY 100 000 000 100.00 Oerlikon Optics UK Ltd., London/UK GBP 1 100.00 Oerlikon SEA Pte. Ltd., Singapore/SG SGD 100 000 100.00 Oerlikon Solar Holding AG, Trübbach, Wartau/CH CHF 3 958 000 100.00 Oerlikon Trading AG, Trübbach, Wartau/CH CHF 8 000 000 100.00 Oerlikon USA Holding Inc., Wilmington, DE/US USD 40 234 000 62.00 Oerlikon Vermögens-Verwaltungs GmbH, Köln/DE EUR 25 000 100.00 OOO Oerlikon Balzers Rus, Elektrostal/RU RUB 1 000 000 100.00 OOO Oerlikon Rus, Moskwa/RU RUB 7 790 760 100.00 OT Textile Verwaltungs GmbH, Arbon/CH CHF 20 000 100.00 PT. Oerlikon Balzers Artoda Indonesia IDR 18 000 000 000 42.00 Saurer AG, Arbon/CH CHF 112 019 600 100.00 Saurer Management AG, Freienbach SZ/CH CHF 100 000 100.00 Unaxis GmbH, Freienbach SZ/CH CHF 20 000 100.00
Key Figures Group Notes OC Oerlikon Corporation AG, Pfäffikon Notes to the financial statements of OC Oerlikon Corporation AG, Pfäffikon Changes in equity of OC Oerlikon Corporation AG, Pfäffikon General Reserves Reserves Total Share legal from capital for treasury Free Retained shareholders’ in CHF million capital reserves contributions shares reserves earnings equity Balance at January 1, 2009 282.8 196.8 – 294.1 235.0 107.1 1 115.8 Changes in reserves for treasury shares – – – –2.5 – 2.5 – Net loss 2009 – – – – – –172.5 –172.5 Balance at December 31, 2009 282.8 196.8 – 291.6 235.0 –62.9 943.3 Changes in capital decrease and capital increase 40.2 – – – 1 109.0 – 1 149.2 Changes in reserves for treasury shares – – – –290.1 – 290.1 – Net loss 2010 – – – – – –62.0 –62.0 Balance at December 31, 2010 323.0 196.8 – 1.5 1 344.0 165.2 2 030.5 Changes in capital increase 0.1 – 0.2 – – – 0.3 Changes in reserves from capital contributions – –126.2 1 176.3 – –1 050.1 – – Changes in reserves for treasury shares – – – 2.0 – –2.0 – Net profit 2011 – – – – – 17.0 17.0 Balance at December 31, 2011 323.1 70.6 1 176.5 3.5 293.9 180.1 2 047.7 Proposal of the Board of Directors The available earnings amount to: in CHF 2011 Balance brought forward from previous year 165 150 831 Net profit 2011 16 959 155 Changes in reserves for treasury shares –1 948 265 Available earnings 180 161 721 The Board of Directors proposes to the General Meeting of Shareholders that the available earnings are to be appropriated as follows: Balance to be carried forward 180 161 721 The Board of Directors proposes to the General Meeting of Shareholders a distribution of a dividend, distributed from reserves from capital contributions: Dividend from reserves from capital contributions (without withholding tax) of CHF 0.20 on dividend bearing shares with a nominal value of CHF 1.00 each –68 000 000 The company will not pay dividend on treasury shares held by OC Oerlikon Corporation AG. The proposed dividend includes the maximum number of shares which could be issued from the conditional capital, as a result of the exercise of warrants, before the date of dividend payments. Pfäffikon SZ, March 1, 2012 On behalf of the Board of Directors Chairman Tim Summers 143
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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
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54 Letter Information for Investors
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58 Stability and competence The Oer
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60 Composition of the Board of Dire
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62 Composition of Committees of the
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68 Leadership and accountability Th
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70 Composition of the Executive Com
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7.0 Remuneration report In this rem
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78 Compensation of non-executive me
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82 Share options Letter Information
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8.0 Risk management 1. The 2011 enh
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Contents I. Operational review 1.0
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Key Figures Group Notes OC Oerlikon
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Page 117: Key Figures Group Notes OC Oerlikon
Page 120 and 121: 102 Expenses included in EBIT Key F
Page 122 and 123: 104 Deferred taxes Key Figures Grou
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 159: Key Figures Group Notes OC Oerlikon
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
Page 182 and 183: 10.0 Research and development In 20
Page 184 and 185: 166 Innovation highlights Oerlikon
Page 186 and 187: 168 Oerlikon Vacuum MAGiNTEGRA: rob
Page 188 and 189: 170 Oerlikon Coating INGENIA: the q
Page 190 and 191: 11.0 Expanding the global footprint
Page 192 and 193: 174 Oerlikon further expands in gro
Page 194 and 195: 176 the greater the opportunity for
Page 197 and 198: Financial calendar March 5, 2012 An
Page 199: AB Applied Biosystems ∙ ABB ∙ A
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