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

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176 the greater the opportunity for profitable export growth into other emerging markets such as Turkey and Brazil. Oerlikon Coating also continues to grow in India through its support services to the expanding domestic automotive industry. The regional headquartes in India cooperates with coating centers in Thailand, Malaysia and Indonesia and in the rest of South Asia. Growth and Progress in Russia Russia’s economy is forecast to grow at rates above 4 % per annum, which is significantly higher than in the OECD countries. Given the Russian economy’s sensitivity to export commodity prices, the government is encouraging a rebalancing to a more innovation-based economy. Russia has put technology at the top of the agenda by introducing a variety of incentives and initiatives – all of which make the country a very attractive market for Oerlikon. Letter Information for Investors Operational Review Sustainability Compliance Corporate Governance Moscow: The Russian government is supporting the development to a more innovation oriented economy. India Oerlikon continues to expand in South Asia’s largest growth market. The major driver for growth in India is the growth of domestic demand. In 2011, Oerlikon had 17 locations with a total of about 2 600 employees. Group sales into India have increased steadily over the last few years. Sales were led by the Textile, Drive Systems and Coating Segments. Sales into Russia, led by Oerlikon Solar, have been a modest up to 2 % of total Group sales over the past 3 years. Oerlikon Textile, Coating, Vacuum and Drive Systems also sell into the Russian market, but currently not at significant levels. The Group will develop a comprehensive market penetration strategy in 2012. Brazil: new infrastructure and industrial expansion Economists forecast long-term Brazil GDP growth of up to 5 % per annum. Significant expansion in the energy, infrastructure and transportation sectors, along with very large projects such as the 2014 FIFA World Cup and 2016 Olympics, will further drive growth. The expansion of both the labor force and middle class seen in the last 10 years is forecast to continue, which should significantly increase domestic demand and macroeconomic stability. The country is not, however, without near term challenges: Brazil’s strong currency, high interest rates, and skills shortage, combined with weaker global export demand, could have a material impact on the speed of development. The stable long-term growth outlook and rapid expansion of industries in which Oerlikon has core competencies, make Brazil one of the most interesting market development opportunities for the Group. Today, Oerlikon is slightly represented in Brazil; recent sales have been in the range of up to 3 % of the Group total, generated primarily by the Textile, Drive Systems, and Coating Segments. Oerlikon believes that Brazil offers significant growth opportunities for the Group.
Remuneration Report Risk Management Financial Report Global Markets R & D Global Presence Rio de Janeiro: The FIFA World Cup in 2014 and the Olympics in 2016 add impetus to Brazil’s already significant growth markets in energy, transport and infrastructure. The story continues to evolve Regional expansion is a cornerstone of Oerlikon’s strategy. Building on our strong presence in China and India, the company is on the way to explore the potential of other regions. Markets currently underrepresented or unexplored will be developed in the same way that those in Asia were, rounding out the company’s global footprint in the process. The aim is to achieve a high degree of global diversification with a well balanced geographical split. But while the world is our market, Switzerland remains the homeland of Oerlikon. 177
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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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102 Expenses included in EBIT Key F
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104 Deferred taxes Key Figures Grou
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106 Financial investments Key Figur
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108 Property, plant and equipment i
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110 Key Figures Group Notes OC Oerl
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112 Intangible assets Previous year
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114 Post-employment benefit provisi
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116 Provisions in CHF million Key F
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118 Liquidity risk Key Figures Grou
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120 Credit risk Key Figures Group N
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122 Market risk Key Figures Group N
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124 Capital management Key Figures
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Page 152 and 153: 134 Report of the Statutory Auditor
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Page 199: AB Applied Biosystems ∙ ABB ∙ A
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Annual Report 2011 (5.07 MB, PDF-File) - Oerlikon

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