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

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12 Intangible Assetsin CHF 1,000 Customer Base Trademark Technology USTER ®STATISTICSGoodwillOtherIntangibleAssets2008At CostBalance at January 1, 2008 180,000 58,700 48,500 30,400 64,549 612 382,761Additions 0 0 0 0 0 174 174Currency translation differences 0 0 0 0 0 -6 -6Balance at December 31, 2008 180,000 58,700 48,500 30,400 64,549 780 382,929Accumulated Amortization /ImpairmentBalance at January 1, 2008 -9,000 0 -4,850 -1,216 -3,360 -206 -18,632Amortization -9,000 0 -4,850 -1,216 0 -202 -15,268Currency translation differences 0 0 0 0 0 3 3Balance at December 31, 2008 -18,000 0 -9,700 -2,432 -3,360 -405 -33,897Net book value at January 1, 2008 171,000 58,700 43,650 29,184 61,189 406 364,129Net book value at December 31, 2008 162,000 58,700 38,800 27,968 61,189 375 349,032in CHF 1,000 Customer Base Trademark Technology USTER ®STATISTICSGoodwillOtherIntangibleAssets2009At CostBalance at January 1, 2009 180,000 58,700 48,500 30,400 64,549 780 382,929Additions 0 0 0 0 0 9 9Currency translation differences 0 0 0 0 0 -1 -1Balance at December 31, 2009 180,000 58,700 48,500 30,400 64,549 788 382,937Accumulated Amortization /ImpairmentBalance at January 1, 2009 -18,000 0 -9,700 -2,432 -3,360 -405 -33,897Amortization -9,000 0 -4,850 -1,216 0 -186 -15,252Currency translation differences 0 0 0 0 0 1 1Balance at December 31, 2009 -27,000 0 -14,550 -3,648 -3,360 -590 -49,148Net book value at January 1, 2009 162,000 58,700 38,800 27,968 61,189 375 349,032Net book value at December 31, 2009 153,000 58,700 33,950 26,752 61,189 198 333,78978 Uster Group – Notes to the Consolidated Financial Statements 2009
Customer BaseThe intangible asset “customer base” represents the estimated value of the customers of the Uster Group.Uster enjoys a strong customer loyalty and appreciation in approximately 75 countries. Technical training,product performance, trusted measurement and long living products as well as after-sales services producehigh customer retention and loyalty. Its useful life of 20 years (remaining amortization period 17 years)was reviewed during the fourth quarter of 2009 and was confirmed.TrademarkUster products are used as standard references for quality control in the global textile industry. USTER ®STATISTICS are used throughout the industry as the base benchmarks for the trading of textile products atassured levels of quality across global markets. The USTER ® STATISTICS are perceived as industry standardall over the world.The USTERIZED ® concept (as seal of quality for yarns tested and cleared with USTER ® products) is increasinglyused by well-known consumer companies to assure a consistent level of quality in support of their ownbranded products.Due to the brand awareness and the excellent reputation of the brand “USTER ® ”, this intangible asset isconsidered to have an indefinite useful life.TechnologyThe intangible asset technology summarizes the estimated value of the intellectual property of the Group, i. e.patents and designs which are registered in the name of Uster Technologies Ltd, Switzerland. These intellectualproperty rights refer to all the different processes, instruments and machines which have been developedby the Group through the course of the years. A welldefined policy protects the intellectual property in themarkets relevant to the business. The Technologies useful life of 10 years (remaining amortization period 7 years)was reviewed during the fourth quarter of 2009 and was confirmed.USTER ® STATISTICSUster provides a service to the textile industry by collecting data from thousands of samples of fiber and yarnfrom its customers around the world. The Company produces a database, USTER ® STATISTICS, of performancedata against the historic population of quality metrics and makes the results freely available to the industry.USTER ® STATISTICS was established in 1957 and looks back on more than 50 years of fiber and yarn qualitymeasurement. It is perceived as industry standard all over the world. The USTER ® STATISTICS’ useful life of25 years (remaining amortization period 22 years) was reviewed during the fourth quarter of 2009 and wasconfirmed.Uster Group – Notes to the Consolidated Financial Statements 2009 79
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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
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Quality means the customercomes bac
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Operational ReviewOperativer Rückb
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Inconsistent quality meansloss of p
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position as the world leader and au
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Poor quality can destroybrand reput
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Sales and MarketingVertrieb und Mar
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The hidden cost of poor qualityThin
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Research and InnovationForschung un
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OperationsProduktion und LogistikIn
Page 30 and 31:
OutlookAusblickSeveral trends and l
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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 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
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
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