Uster Technologies Ltd | Annual Report 2009 Uster Technologies ...

More documents

Recommendations

Info

Uster Technologies Ltd – Notes to the FinancialStatements1 Statement of ComplianceThe financial statements of Uster Technologies Ltd are prepared in compliance with the Swiss Code ofObligations.2 Company InformationSince the initial public offering on October 19, 2007, the shares of Uster Technologies Ltd are listed on themain standard of SIX Swiss Exchange.3 Shareholders’ Equityin CHF 1,000ShareCapitalStatutoryReservesRetainedEarningsTotalBalance at January 1, 2008 65,600 0 85,965 151,565Dividend 1) -3,936 98 -98 -3,936Profit /(Loss) of the year 0 0 6,479 6,479Balance at December 31, 2008 61,664 98 92,346 154,108Balance at January 1, 2009 61,664 98 92,346 154,108Appropriation of retained earnings 0 324 -324 0Capital increase 17,860 0 26,010 43,870Profit /(Loss) of the year 0 0 -4,694 -4,694Balance at December 31, 2009 79,524 422 113,338 193,2841)The dividend has been paid by way of a nominal value reduction.Ordinary Share CapitalOn November 2, 2009, the Uster Group issued 1.9 million newly registered shares with a nominal value ofCHF 9.40 out of the authorized capital. The ordinary share capital of Uster Technologies Ltd as of December31, 2009, amounted to CHF 79.5 million and was fully paid up. It consisted of 8,460,000 registered shareswith a nominal value of CHF 9.40 each (December 31, 2008: share capital of CHF 61.7 million and 6,560,000shares with a nominal value of CHF 9.40 each).Conditional Share Capital IncreaseAs of December 31, 2009, Uster Technologies Ltd had a conditional share capital increase available, pursuantto which the share capital may be increased by a maximum aggregate amount of CHF 3.008 million throughthe issuance of a maximum of 320,000 fully paid registered shares with a nominal value of CHF 9.40 each bythe exercise of option rights which the employees, the Management or Directors of Uster Technologies Ltdor another Group company may be granted in the future.102 Uster Technologies Ltd – Notes to the Financial Statements 2009
4 Pledged AssetsAs of December 31, 2009, none of the assets of Uster Technologies Ltd were pledged (2008: none).5 GuaranteeAs of December 31, 2009, Uster Technologies Ltd did not have any guarantees outstanding (2008: none).6 Fire Insurance Values of Property, Plant and EquipmentThe fire insurance values of property, plant and equipment as of December 31, 2009, amounted to CHF 15.3million (2008: CHF 14.5 million).7 Excess ReservesDuring the financial year 2009 no excess reserves have been reversed (2008: CHF 2.7 million).8 Risk AssessmentRisk management is part of the management process which is defined within the management handbook.All risks / groups of risks are assigned to the process owners of the business processes containing thespecific risk. Strategic risks are directly assigned to the Executive Management Team.The process owners supervise the risks / group of risks and propose process changes if the risks take unexpecteddevelopments. The process changes are approved by the Executive Management Team.The risk management process is reviewed at least once a year by the Board of Directors.9 Significant Shareholders1,017 shareholders were entered in the share register of Uster Technologies Ltd as of December 31, 2009 (2008:966). Of those the following held more than 3.0% of the total voting rights:• Alcide Ltd 27.9% (36.0%)• Toyota Industries Corporation 22.5% (0.0%)• Board and Management Members 1) 7.9% (9.5%)• T. Rowe Price International Inc. 4.4% (5.5%)• Bär Marc Philipp 3.1% (3.6%)1)The Board and Management Members do not act as a Group and are therefore not reported to SIX Swiss Exchange asa significant shareholder.Uster Technologies Ltd – Notes to the Financial Statements 2009 103
Page 1 and 2:
Uster Technologies Ltd | Annual Rep
Page 3 and 4:
Achievements 2009• EBITA margin m
Page 5:
PortraitThe Uster Group is the lead
Page 8 and 9:
Table of ContentsInhaltsverzeichnis
Page 10 and 11:
Max-Ulrich Zellweger, Geoffrey Scot
Page 12 and 13:
Quality means the customercomes bac
Page 14 and 15:
Operational ReviewOperativer Rückb
Page 16 and 17:
Inconsistent quality meansloss of p
Page 18 and 19:
position as the world leader and au
Page 20 and 21:
Poor quality can destroybrand reput
Page 22 and 23:
Sales and MarketingVertrieb und Mar
Page 24 and 25:
The hidden cost of poor qualityThin
Page 26 and 27:
Research and InnovationForschung un
Page 28 and 29:
OperationsProduktion und LogistikIn
Page 30 and 31:
OutlookAusblickSeveral trends and l
Page 32 and 33:
Corporate GovernanceThe information
Page 34 and 35:
• On February 10, 2009, Lombard O
Page 36 and 37:
2.4 Shares and Participation Certif
Page 38 and 39:
Board of DirectorsMembers of the Bo
Page 40 and 41:
Harald Rönn, Member of the Board o
Page 42 and 43:
The Board of Directors may entrust
Page 44 and 45:
Nomination and Compensation Committ
Page 46 and 47:
Executive CommitteeMembers of the E
Page 48 and 49:
4 Executive Committee4.1 Members of
Page 50 and 51:
Harold R. Hoke Jr., Head of Sales a
Page 52 and 53:
6.2 Statutory QuorumsUnless mandato
Page 54 and 55:
9 Information PolicyUster Technolog
Page 56 and 57:
Comment on the Consolidated Financi
Page 58 and 59: Uster Group - Consolidated Financia
Page 60 and 61: Consolidated Statement of Cash Flow
Page 62 and 63: Consolidated Statement of Changes i
Page 64 and 65: 2.5 Impairment of Goodwill and Inta
Page 66 and 67: Standards, Amendments and Interpret
Page 68 and 69: 3.4 Intangible AssetsBusiness Combi
Page 70 and 71: 3.6 Financial InstrumentsFinancial
Page 72 and 73: 3.7 InventoriesInventories are meas
Page 74 and 75: 3.13 Revenue RecognitionRevenue fro
Page 76 and 77: The carrying amount of financial as
Page 78 and 79: The table below sets out the carryi
Page 80 and 81: The fair value of the bank loans ha
Page 82 and 83: 8.4 Personnel Expensein CHF 1,000 J
Page 84 and 85: 12 Intangible Assetsin CHF 1,000 Cu
Page 86 and 87: 13 Impairment Testing of Goodwill a
Page 88 and 89: 14 Property, Plant and Equipmentin
Page 90 and 91: The changes in the present value of
Page 92 and 93: 16 Income TaxStatement of Comprehen
Page 94 and 95: Movements in Temporary DifferencesT
Page 96 and 97: The ageing of these receivables is
Page 98 and 99: 21.3 DividendsThe holders of regist
Page 100 and 101: Restructuring ProvisionsThe Company
Page 102 and 103: 26 Operating Lease CommitmentsNon-c
Page 104 and 105: Report of the Statutory Auditor on
Page 106 and 107: Uster Technologies Ltd - Financial
Page 110 and 111: 10 Investments in SubsidiariesAs of
Page 112 and 113: Executive Committeein CHF 2008Name
Page 114 and 115: Report of the Statutory Auditor on
Page 116 and 117: Information for InvestorsShare Info
Page 118 and 119: Key Figuresin CHF 1,000 Jan 1 -Dec
Page 120 and 121: in CHF 1,000 2009 2008 2007 2006 1)
Page 122: ImprintContent Concept and EditingI
show all

Uster Technologies Ltd | Annual Report 2009 Uster Technologies ...

Create successful ePaper yourself

Delete template?

Save as template?