Annual Report 2008 - Komax Group

More documents

Recommendations

Info

Notes to the consolidated financial statements 10. Deferred taxes 10.1 Statement of carrying values 1) Including unrealized intragroup profits 66 | 66 | CHF 1,000 31.12.08 31.12.07 Property, plant and equipment 662 696 Trade receivables and inventories 1) 2,127 1,812 Provisions 124 245 Tax-loss carryforwards 1,983 3,783 Other items 706 68 Total deferred tax assets (gross) 5,602 6,604 Offset against tax liabilities -1,743 -1,417 Balance sheet tax assets 3,859 5,187 Property, plant and equipment 4,670 4,342 Trade receivables and inventories 2,095 2,797 Provisions 830 1,023 Other items 665 728 Total deferred tax liabilities (gross) 8,260 8,890 Offset against tax assets -1,743 -1,417 Balance sheet tax liabilities 6,517 7,473 Net deferred tax assets (+) / tax liabilities (-) -2,658 -2,286 10.2 Statement of changes CHF 1,000 2008 2007 Net total as at 1 January -2,286 -822 Deferred tax income (+) / tax expense (-) 227 -1,579 Currency translation differences -599 115 Net total as at 31 December -2,658 -2,286 Komax Annual Report 2008 The sum of the temporary differences relating to investments in affiliated companies for which no deferred taxes have been reported came to CHF 44.9 million as at 31 December 2008 (2007: CHF 52.0 million). All changes in deferred taxes are included in the income statement for the corresponding periods. All tax-loss carryforwards have been capitalized as at 31 December 2008 just as they were the previous year.
11. Other non-current receivables Komax has lease agreements with various customers for the financing of machine purchases. The leases normally have durations of between 36 and 60 months. The agreements are subject to termination, with the lessee being required to bear the cost of termination. All agreements envisage the purchase of the leased asset at the end of the term, either as a fixed agreement or in the form of a purchase option. It is the duty of the lessee to ensure that the leased asset is properly insured. Non-current receivables from financing leases are recognized in the “Other non-current receivables” item. Details can be found in the table below: CHF 1,000 31.12.08 31.12.07 Gross investment in the lease 665 531 less unguaranteed residual value in favour of lessor -33 -33 less unearned finance income -90 -74 Present value of minimum lease payments 542 424 CHF 1,000 31.12.08 0–1 year 1–5 years > 5 years Gross investment in the lease 232 433 0 Present value of minimum lease payments 189 353 0 CHF 1,000 31.12.07 0–1 year 1–5 years > 5 years Gross investment in the lease 168 363 0 Present value of minimum lease payments 135 289 0 As at 31 December 2008 as well as at the end of the previous year, no value adjustments needed to be recognized for irrecoverable minimum lease payments. Komax Annual Report 2008 | 67 Komax Annual Report 2008 | 67
Page 1 and 2:
Annual Report 2008 Komax Annual Rep
Page 3 and 4:
Five-year overview of the Komax Gro
Page 5 and 6:
Contents Five-year overview of the
Page 7 and 8:
Highlights of 2008 14 May: At the O
Page 9 and 10:
Komax India and Komax Russia streng
Page 11 and 12:
Group report Komax Annual Report 20
Page 13 and 14:
As a machinery producer, Komax is g
Page 15 and 16:
Komax Annual Report 2008 | 11 Komax
Page 17 and 18:
ogies and for all process steps up
Page 19 and 20: In the photovoltaics field, Komax i
Page 21 and 22: Komax Annual Report 2008 | 17 Komax
Page 23 and 24: Production and global procurement T
Page 25 and 26: In the medical technology sector, K
Page 27 and 28: Komax Annual Report 2008 | 23 Komax
Page 29 and 30: Internal control system (ICS) and r
Page 31 and 32: Snapshot: Family & Friends Day at K
Page 33 and 34: Komax Annual Report 2008 | 29
Page 35 and 36: Komax Annual Report 2008 | 31
Page 37 and 38: Corporate governance Komax Annual R
Page 39 and 40: Convertible bonds and options Komax
Page 41 and 42: ground prior to joining Komax: Land
Page 43 and 44: the Audit Committee at which the ma
Page 45 and 46: Information for investors Komax Ann
Page 47 and 48: Key share figures 2008 2007 2006 20
Page 49 and 50: Financial Report 2008 Komax Annual
Page 51 and 52: Balance sheet Assets Current assets
Page 53 and 54: Value-added accounting 2008 2007 So
Page 55 and 56: Consolidated income statement CHF 1
Page 57 and 58: Consolidated shareholders’ equity
Page 59 and 60: IFRS 1, “First-time Adoption of I
Page 61 and 62: 2.8 Financial assets Financial asse
Page 63 and 64: pend on the employee remaining with
Page 65 and 66: 3.3 Liquidity risk Prudent liquidit
Page 67 and 68: 6. Securities CHF 1,000 31.12.08 31
Page 69: 9. Inventories CHF 1,000 31.12.08 3
Page 73 and 74: The present value of plan assets de
Page 75 and 76: 13. Property, plant and equipment 1
Page 77 and 78: 14. Intangible assets 14.1 Intangib
Page 79 and 80: 16. Financial liabilities 17. Trade
Page 81 and 82: 19. Provisions CHF 1,000 2008 2007
Page 83 and 84: 22.2 Secondary segment information
Page 85 and 86: 23.3 Breakdown of employees by coun
Page 87 and 88: 27. Taxes CHF 1,000 2008 2007 Curre
Page 89 and 90: Report of the statutory auditor to
Page 91 and 92: Notes to the financial statements o
Page 93 and 94: Income statement CHF 1,000 2008 200
Page 95 and 96: 3. Treasury shares Change in 2008 1
Page 97 and 98: 7. Holdings of shares and options A
Page 99 and 100: 100% Komax Systems Malaysia Sdn. Bh
Page 101 and 102: Report of the statutory auditor to
Page 103 and 104: Luxembourg Smans N.V. BE-2300 Turnh
Page 105 and 106: Forward-looking statements The pres
show all

Annual Report 2008 - Komax Group

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?