English - Siegfried

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Consolidated Statement of Recognized Income and Expensefor the year ended December 31In CHF million2006 2005Cash Flow Hedges– Gains / (losses) taken to equity 2.0 – 3.6– Transferred to income statement 0.8 – 0.8Available-for-sale financial assets– Gains/(losses) taken to equity – 0.5 –Actuarial gains/(losses) from defined benefit plans 0.2 9.9Exchange rate differences – 8.2 16.7Income taxes on items recorded in equity – 0.2 – 2.4Net income/(expense) recognized directly in equity – 5.9 19.8Net profit 32.4 36.5Total recognized income and expense 26.5 56.3Thereof:– Siegfried Holding AG shareholders 26.5 56.3– Minority interests – –Financial Statements Siegfried Group63
Notes to the Consolidated FinancialStatementsAccounting principlesGroup Financial Statements The Consolidated FinancialStatements of the Siegfried Group (Siegfried) complywith the International Financial Reporting Standards (IFRS)issued by the International Accounting Standards Board(IASB) and with International Accounting Standards (IAS)issued by its predecessor, the International AccountingStandards Committee (IASC), and the Interpretations of theStanding Interpretations Committee (SIC), as well as withthe following significant accounting policies. The ConsolidatedFinancial Statements are based on historical costs,except the revaluation of specific financial assets andliabilities such as derivative financial instruments and available-for-salefinancial assets. As described in the followingpolicies, these are assessed at fair value.The registered Siegfried shares are listed on the Swiss stockexchange (SWX).The Board of Directors approved the Consolidated FinancialStatements on March 12, 2007.Estimates and Valuations In compliance with IFRS, thecompilation of the Consolidated Financial Statementsrequires estimates, and the use of company-wide accountingand valuation procedures by management. Estimatesand assumptions for activities of key importance to theGroup Financial Statements, and those judged more complexand needing additional leeway are explained underthe Notes to the Consolidated Financial Statements. Actualresults may vary from the estimates.Revised accounting standards The following new andrevised standards and interpretations relevant for Siegfriedbecame effective on January 1, 2006:– Amendments to IAS 19 Employee Benefits– Amendments to IAS 39 Financial Instruments:Recognition and Measurement– Amendments to IAS 21 Effects of Changes in ForeignExchange Rates (early adoption in 2005)– IFRIC 4 – Determining whether an Arrangement contains aLeaseThe new and revised standards have no practical significancefor Siegfried, except as described below:IAS 19 (revised), Employee Benefits Siegfried adoptedthe revised IAS 19 effective January 1, 2006. Amongst otherchanges, the revised standard allows actuarial gains andlosses from defined benefit plans to be recorded directly toequity. The revised standard requires retrospective applicationat January 1, 2005.IAS 20 Accounting for Government Grants and Disclosureof Government Assistance From January 1, 2006on, Siegfried revised its accounting policies for GovernmentGrants in order to provide more relevant information onSiegfried’s financial position and performance. Up toDecember 31, 2005, Government Grants were presentedin the Balance Sheet by setting up the grant as deferredincome which was recognized as income over the usefullife of the asset. Since January 1, 2006, Government Grantsrelated to assets are deducted in arriving at the carryingamount of the asset. The grant is recognized as incomeover the life of the asset by way of a reduced depreciationcharge. The change in this accounting policy has beenapplied retrospectively as of January 1, 2005. It resulted ina reduction of Other non-current liabilities and of Property,Restated Balance Sheet at December 31, 2005In CHF million Group as IAS 19 (revised) IAS 20 (changed) Group (restated)published in 2005Non-current assets 449 689 1 509 – 1 601 449 597Current assets 227 835 227 835Total assets 677 524 1 509 – 1 601 677 432Equity 433 703 1 680 435 383Non-current liabilities 178 123 – 171 – 1 601 176 351Current liabilities 65 698 65 698Total liabilities 243 821 – 171 – 1 601 242 049Total liabilities and equity 677 524 1 509 – 1 601 677 43264 Financial Statements Siegfried Group
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Siegfried - when substance mattersA
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OverviewFor 2006, the Siegfried Gro
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Sabrina BaumannChemical Lab Apprent
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custom synthesis and shorten projec
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we are obligated to maintain our in
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Annual ReportThe Siegfried Division
Page 15 and 16: apid change as significant price er
Page 17 and 18: The Siegfried Division PipelineThe
Page 19 and 20: The Sidroga DivisionThe Sidroga Div
Page 21 and 22: OutlookThe revenues for active phar
Page 23 and 24: Board of Directors and Corporate Of
Page 26 and 27: Adrian AzzopardiQuality Control Man
Page 28 and 29: 2. Foreword and general frameworkRe
Page 30 and 31: 3.2 Participation structure of Sieg
Page 32 and 33: 4.2 CrossholdingsThe Siegfried Grou
Page 34 and 35: 6.2 ProfilesDr Markus Altwegg, Chai
Page 36 and 37: Prof Dr med Felix GutzwillerFelix G
Page 38 and 39: 6.3 Linking directorates6.3.1 Corpo
Page 40 and 41: Excerpt from the company regulation
Page 42 and 43: 7.2 ProfilesDouglas C. Günthardt,
Page 44 and 45: 7.3 Management ContractsSiegfried H
Page 46 and 47: 9.3 Calling a General Meeting of Sh
Page 48: 12. Information policyThe Siegfried
Page 51 and 52: Report on“Safety - Health - Envir
Page 53 and 54: Overview 2002-2006Key corporate fig
Page 55 and 56: Resources2002-2006 overviewUnit 200
Page 57 and 58: Workplace accidentsComparison: 2002
Page 60 and 61: Paul GauvreauProcess Development Ch
Page 62 and 63: Net profits declined from CHF 36.5
Page 64 and 65: Consolidated Income Statementfor th
Page 68 and 69: Restated Recognized Income and Expe
Page 70 and 71: asset in question is reviewed and,
Page 72 and 73: Research and development Research a
Page 74 and 75: Financial Statements Siegfried Grou
Page 76 and 77: 2. Property, plant and equipmentIn
Page 78 and 79: The recoverability of capitalized G
Page 80 and 81: 8. Other current assetsIn 1000 CHF
Page 82 and 83: The financial liabilities are denom
Page 84 and 85: The following amounts are recognize
Page 86 and 87: Contingent liabilities for addition
Page 88 and 89: Report of the Group auditorsto the
Page 90: Financial Statements Siegfried Grou
Page 93 and 94: Financial Statements Siegfried Hold
Page 95 and 96: Securities are stated at the lower
Page 97 and 98: Stock market data2006 2005 2004 200
Page 99 and 100: Cautionary statement regarding forw
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English - Siegfried

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