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

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21.3 DividendsThe holders of registered shares are entitled to dividends and to one vote per share at the Shareholders’ meetingsof Uster Technologies Ltd. No dividends have been paid in 2009.On March 18, 2008, the general assembly decided to reduce the nominal value by CHF 0.60 per share. By this13% of the adjusted net result 2007 was paid out to the shareholders.22 Bank Loansin CHF 1,000 Dec 31, 2009 Dec 31, 2008Facility A 94,438 119,250Facility B 19,839 34,786Total non-current 114,277 154,036in CHF 1,000 Dec 31, 2009 Dec 31, 2008Current portion Facility A 10,000 10,000Total current 10,000 10,000Total 124,277 164,036Facility AIn 2007 the initial balance of Facility A amounted to CHF 140.0 million and has been reduced by the directlyattributable transaction costs that are amortized using the effective interest method. Facility A is unsecured.After yearly contractual repayments of CHF 10.0 million in December and an additional repayment ofCHF 15.0 million in November 2009, the remaining amount of CHF 85.0 million has to be repaid in full inDecember 2012.Facility BIn 2007 the initial balance of Facility B amounted to CHF 40.0 million and has been reduced by the directlyattributable transaction costs that are amortized using the effective interest method. Facility B is unsecured.It is voluntarily repayable. After a withdrawal of CHF 5.0 million in March (mainly to finance the onetimerestructuring cost paid in the first half year 2009 and for additional trade financing activities to respond tothe economic situation) repayments of CHF 20.0 million were made in November and December 2009 (June2008: voluntary repayment of CHF 5.0 million). The remaining amount of CHF 20 million has to be repaid infull in December 2012.92 Uster Group – Notes to the Consolidated Financial Statements 2009
The effective interest rate and the maturity of the bank loans are as follows:Effective Interest RateMaturityFacility A Libor + margin% Dec 31, 2012Facility B Libor + margin% Dec 31, 2012The margin applicable to the basic Libor interest rate on the bank loans ranges depending on the covenantsfrom 1% to 4.5% (2008: 0.8% to 3.5%). These covenants focus on equity ratio, on EBITDA and on free cashflows generated.The Group met all loan covenants.23 Provisionsin CHF 1,000RestructuringProvisionWarrantyProvisionsOtherProvisions2008Balance at January 1, 2008 0 3,157 1,100 4,257Amounts used 0 -1,376 0 -1,376Reversals 0 -184 0 -184Increases 2,555 1,278 135 3,968Currency translation differences -9 -5 0 -14Balance at December 31, 2008 2,546 2,870 1,235 6,651ThereofNon-current 0 1,850 885 2,735Current 2,546 1,020 350 3,916in CHF 1,000RestructuringProvisionWarrantyProvisionsOtherProvisions2009Balance at January 1, 2009 2,546 2,870 1,235 6,651Amounts used -1,581 -1,277 -635 -3,493Reversals -614 0 -471 -1,085Increases 0 392 0 392Currency translation differences 3 -3 -1 -1Balance at December 31, 2009 354 1,982 128 2,464ThereofNon-current 0 1,254 28 1,282Current 354 728 100 1,182Uster Group – Notes to the Consolidated Financial Statements 2009 93
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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
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OutlookAusblickSeveral trends and l
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Corporate GovernanceThe information
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• On February 10, 2009, Lombard O
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2.4 Shares and Participation Certif
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Board of DirectorsMembers of the Bo
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Harald Rönn, Member of the Board o
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The Board of Directors may entrust
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Nomination and Compensation Committ
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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 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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