Annual Report 2009 - Von Roll

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Financial Reporting 2009 – Consolidated Financial Statements 8739.| Related party transactionsRelated companies and persons include associated companies and persons holding voting rights, either directly orindirectly who could exercise a decisive influence on company management and their closest relatives, Groupmanagers and their relatives and companies subject to uniform management or decisive influence by the citedpersons.Transactions with related parties are disclosed below:in CHF 1,000 2009 2008Compensation of the Board of Directors and key management personnelBenefits 3,580 4,014Post-employment benefits 411 427Benefits after retirement from key management 444 –Share-based payment 350 194Total 4,785 4,635No loans, advances or guarantee obligations were granted to members of the Board of Directors and/or ExecutiveManagement or major shareholders of Von Roll Holding AG. As of 31 December 2009 members of the Board ofDirectors, members of the management team and parties related to them held 469,267 shares in Von RollHolding AG (2008: 476,933). For detailed information please refer to the notes to the financial statements of Von RollHolding AG.40.| Significant events after the balance sheet dateOn 8 January 2010, Von Roll established Von Roll Water Holding AG, based in Breitenbach. The purpose of the entityis the acquisition, disposal and management of investments in existing and future industrial, commercial and financialcompanies of all types in Switzerland and abroad, in particular in the water, sewage and sludge sector aswell as in the field of renewable energy sources.Von Roll has signed an agreement with the owners of the BHU Umwelttechnik GmbH to acquire a full stake in thecompany. Headquartered in Bietigheim-Bissigen, Germany, BHU Umwelttechnik GmbH specializes in water andwastewater treatment and serves as part of the additional business segment “Von Roll Water”, both the industrialand the public water market. The company employs 22 employees and generated sales of around CHF 12 millionin 2009.No other events have occurred since the reporting date that could have had a significant effect on the 2009 consolidatedincome statement.41. | Authorisation of the consolidated financial statementsThese consolidated financial statements were authorised for issue by the Board of Directors on 12 March 2010 andwill be recommended for approval at the Annual General Meeting on 4 May 2010.
88 Financial Reporting 2009 – Consolidated Financial StatementsReport of the statutory auditorTo the General meeting ofVON ROLL HOLDING AG, BREITENBACHReport on the consolidated financial statementsAs statutory auditor, we have audited the accompanying consolidated financial statements of Von Roll Holding AG,which comprise the statement of comprehensive income, balance sheet, cash flow statement, statement of changesin equity and notes (page 38 to 87) for the year ended December 31, 2009.Board of Directors’ ResponsibilityThe Board of Directors is responsible for the preparation and fair presentation of the consolidated financial statementsin accordance with International Financial Reporting Standards (IFRS) and the requirements of Swiss law. Thisresponsibility includes designing, implementing and maintaining an internal control system relevant to the preparationand fair presentation of consolidated financial statements that are free from material misstatement, whetherdue to fraud or error. The Board of Directors is further responsible for selecting and applying appropriate accountingpolicies and making accounting estimates that are reasonable in the circumstances.Auditor’s ResponsibilityOur responsibility is to express an opinion on these consolidated financial statements based on our audit. We conductedour audit in accordance with Swiss law and Swiss Auditing Standards and International Standards on Auditing.Those standards require that we plan and perform the audit to obtain reasonable assurance whether the consolidatedfinancial statements are free from material misstatement.An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidatedfinancial statements. The procedures selected depend on the auditor’s judgment, including the assessmentof 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 preparationand fair presentation of the consolidated financial statements in order to design audit procedures that are appropriatein the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’sinternal control system. An audit also includes evaluating the appropriateness of the accounting policies used andthe reasonableness of accounting estimates made, as well as evaluating the overall presentation of the consolidatedfinancial statements. We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.OpinionIn our opinion, the consolidated financial statements for the year ended December 31, 2009 give a true and fairview of the financial position, the result of operation and the cash flows in accordance with International FinancialReporting Standards (IFRS) and comply with Swiss law.
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SEGMENTSAPPLICATIONGeneratorsRotati
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Annual Report 2009 - Von Roll

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