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

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Milestones1875 Establishment of an aerial telegraphyworkshop in Uster.1927 Production of auxiliary weaving millmachines started.1944 Initiation of operations in the textileelectronics business.1957 First publishing of USTER ® STATISTICS.1982 Cooperation with the Chinese textileindustry.2003 Buyout from Zellweger Luwa by theManagement and two private-equityinvestment companies.2005 Development and assembly establishedin China.Sale of the one millionth USTER ®QUANTUM clearer.2006 Uster Technologies Ltd was sold to itsManagement and funds advised by AlphaBeteiligungsberatung GmbH & Co. KGvia a secondary buyout.2007 Listing on the main segment of SIX SwissExchange.2008 Introduction of new product groupsspecifically targeting the mid-marketsegment.2009 Acquisition of Zweigle product range.Broadening of existing shareholder basewith new strategic investor ToyotaIndustries Corporation.Meilensteine1875 Gründung eines Betriebes für oberirdischeTelegrafie in Uster.1927 Start der Produktion von Hilfsmaschinenfür Webereibetriebe.1944 Beginn der Aktivitäten im Bereich Textilelektronik.1957 Erste Veröffentlichung der USTER ®STATISTICS.1982 Zusammenarbeit mit der chinesischenTextilindustrie.2003 Buy-out aus der Zellweger Luwa Gruppedurch das Management und zwei Private-Equity-Gesellschaften.2005 Aufbau eines Entwicklungs- und Montagestandortesin China.1 Million USTER ® QUANTUM Reinigerverkauft.2006 Uster Technologies wird im Rahmeneines zweiten Buy-outs an das Managementsowie an durch die Alpha BeteiligungsberatungGmbH & Co. KG vertreteneFonds verkauft.2007 Kotierung am Hauptsegment der SIXSwiss Exchange.2008 Einführung von neuen, speziell auf dieBedürfnisse des mittleren Marktsegmentsausgerichteten Produkten.2009 Übernahme des Produktsortiments vonZweigle.Erweiterung des Aktionärskreises durchden neuen strategischen Investor ToyotaIndustries Corporation.
Achievements 2009• EBITA margin maintained at high level of 22.5%in a challenging market environment.• Positive net result of CHF 1.1 million despitelower sales level, underlining the Company’s proactiveand effective cost management.• Acquisition of Zweigle product range adding toUSTER ® ’s laboratory yarn testing offering.• Maintained strong relationship with the ChinaFiber Inspection Bureau (CFIB) and the UnitedStates Department of Agriculture (USDA) servingtheir expansion and replacement plans.• Launch of a further new mid-range system fortesting cotton fiber properties.• Strengthening of financial and operational flexibilityand deleveraging following the strongendorsement of new strategic investor ToyotaIndustries Corporation.• Uster Group well positioned to participate in theeconomic upswing once markets recover.Höhepunkte 2009• EBITA-Marge in schwierigem Marktumfeld mit22.5% weiterhin auf hohem Niveau.• Positives Nettoergebnis in Höhe von CHF 1.1 Mio.trotz niedriger Umsätze – dank proaktivem undeffektivem Kostenmanagement.• Erweiterung des Portfolios im Bereich Garnprüfungfür Labors durch die Übernahme des Produktsortimentsvon Zweigle.• Weiterhin intensive Beziehungen mit der chinesischenBehörde für Faserprüfung (CFIB) und demUS-Landwirtschaftsministerium (USDA) dankderen Erweiterungs- und Austauschplänen.• Einführung eines neuen Systems für die Prüfungvon Baumwollfasern im mittleren Marktsegment.• Höhere finanzielle und operative Flexibilität undEntlastung der Bilanz nach starker Unterstützungdurch den neuen strategischen Investor ToyotaIndustries Corporation.• Gute Positionierung der Gruppe, um am Wiederaufschwungzu partizipieren, sobald sich dieMärkte erholen.Gross Salesin CHF 1,000EBITAin CHF 1,000in percent of gross sales2009100,763200922.5 %22,7092008154,893200822.1 %34,1682007186,666200728.1 %52,3842006 163,900200628.2 %46,1932005143,651200521.4 %30,729Net Resultin CHF 1,000in percent of gross salesFree Cash Flowin CHF 1,00020091.1%1,078200911,27820083.4 %5,316200829,40920071.9 %3,587200737,084200618.3 %29,957200645,348200512.8 %18,391200532,997
Page 1: Uster Technologies Ltd | Annual Rep
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
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6.2 Statutory QuorumsUnless mandato
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9 Information PolicyUster Technolog
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Comment on the Consolidated Financi
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Uster Group - Consolidated Financia
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Consolidated Statement of Cash Flow
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Consolidated Statement of Changes i
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2.5 Impairment of Goodwill and Inta
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Standards, Amendments and Interpret
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3.4 Intangible AssetsBusiness Combi
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3.6 Financial InstrumentsFinancial
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3.7 InventoriesInventories are meas
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3.13 Revenue RecognitionRevenue fro
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The carrying amount of financial as
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The table below sets out the carryi
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The fair value of the bank loans ha
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8.4 Personnel Expensein CHF 1,000 J
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12 Intangible Assetsin CHF 1,000 Cu
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13 Impairment Testing of Goodwill a
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14 Property, Plant and Equipmentin
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The changes in the present value of
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16 Income TaxStatement of Comprehen
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Movements in Temporary DifferencesT
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The ageing of these receivables is
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21.3 DividendsThe holders of regist
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Restructuring ProvisionsThe Company
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26 Operating Lease CommitmentsNon-c
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Report of the Statutory Auditor on
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Uster Technologies Ltd - Financial
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Uster Technologies Ltd - Notes to t
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10 Investments in SubsidiariesAs of
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Executive Committeein CHF 2008Name
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Report of the Statutory Auditor on
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Information for InvestorsShare Info
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Key Figuresin CHF 1,000 Jan 1 -Dec
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in CHF 1,000 2009 2008 2007 2006 1)
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ImprintContent Concept and EditingI
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