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

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Consolidated Statement of Changes in Equityin CHF 1,000ShareCapitalSharePremiumOther ReservesCurrencyTranslationDifferencesRetainedEarnings2008Balance at January 1, 2008 65,600 78,647 4 -968 15,311 158,594Total comprehensive income 0 0 0 -432 5,316 4,884Dividend 1) -3,936 0 0 0 0 -3,936Allocation to statutory reserves 0 0 119 0 -119 0Balance at December 31, 2008 61,664 78,647 123 -1,400 20,508 159,542in CHF 1,000ShareCapitalSharePremiumOther ReservesCurrencyTranslationDifferencesRetainedEarnings2009Balance at January 1, 2009 61,664 78,647 123 -1,400 20,508 159,542Issue of share capital 17,860 26,011 0 0 0 43,871Cost related to issue of share capital 0 -1,240 0 0 0 -1,240Tax effect of cost related to the issue ofshare capital 0 273 0 0 0 273Total comprehensive income 0 0 0 83 1,078 1,161Allocation to statutory reserves 0 0 324 0 -324 0Balance at December 31, 2009 79,524 103,691 447 -1,317 21,262 203,6071)The dividend has been paid by way of nominal value reduction.For details to the shareholders’ equity refer to note 21 Share Capital and Reserves.The notes on pages 57 to 97 are an integral part of these consolidated financial statements.56 Uster Group – Consolidated Financial Statements 2009
Uster Group – Notes to the Consolidated FinancialStatements1 Corporate InformationUster Technologies Ltd (“the Company”) and its subsidiaries (together “the Group”) are the world’s marketleader in textile quality controlling and provide systems and services that enable the industry to manufactureoptimum quality and competitive products “from fiber to fabric”. The Group has a long history as the leaderin textile electronics. For more than 60 years the testing and monitoring solutions have enabled the productionof the finest fibers, yarns and fabrics.Uster Technologies Ltd is domiciled in Switzerland. The address of its registered office is Sonnenbergstrasse10, CH-8610 Uster, Switzerland.2 Basis of Preparation of the Consolidated Financial Statements2.1 Statement of ComplianceThe consolidated financial statements of the Uster Group have been prepared in accordance with the InternationalFinancial Reporting Standards (IFRS).The consolidated financial statements of the Uster Group for the year ended December 31, 2009, were authorizedfor issue in accordance with a resolution of the Board of Directors on February 16, 2010. The generalmeeting of shareholders will be held on March 30, 2010. According to the Swiss Code of Obligation, thegeneral meeting of shareholders has the authority to approve the financial statements.2.2 Basis of MeasurementThe consolidated financial statements have been prepared on a historical cost basis except for the derivativefinancial instruments mentioned in note 4.3 Market Risk that has been measured at fair value.2.3 Functional and Presentation CurrencyThe consolidated financial statements are stated in Swiss Francs, which is the Company’s functional currency.All values are rounded to the nearest thousand (CHF 1,000) except when otherwise indicated.2.4 Significant Accounting Judgments and EstimatesIn the process of preparing the consolidated financial statements the Executive Committee of the Uster Grouphas to make judgments, assumptions and estimations that affect the reported amounts of assets, liabilities,income and expenses. These estimates are reviewed on a regular basis and are based on past experience aswell as assumptions about the future that currently seem to be reasonable. The actual results, however, coulddiffer from these estimates.The key estimates and assumptions that have a significant risk of causing material adjustments to the carryingamounts of assets and liabilities are mentioned below.Uster Group – Notes to the Consolidated Financial Statements 2009 57
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Uster Technologies Ltd | Annual Rep
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Achievements 2009• EBITA margin m
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PortraitThe Uster Group is the lead
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Table of ContentsInhaltsverzeichnis
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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 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 108 and 109: Uster Technologies Ltd - Notes to t
Page 110 and 111: 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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