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Statement of financial position

as per 31 December 2012

1 000 CHFNotes2012 2011

 

Cash and cash equivalents

 

 

 

120 708

 

161 887

Marketable securities 2 9172 438
Treasury shares  4 074
Prepaid expenses and accrued income 232419
Income taxes receivable  4 029
Other accounts receivable 2 144728
Loans to Corporate Companies 33 17451 746
Current assets(1)159 175225 321

Investments

 

 

 

841 900

 

955 309

Loans to Corporate Companies 359 358337 112
Non-current assets(2)1 201 2581 292 421

 

Assets

 

1 360 433

1 517 742


Current liabilities

 

 

 

 

 

 

− Accounts payable to third parties 3 4761 828
− Tax liabilities 1093
− Accrued expenses and deferred income 4 5264 695
− Accounts payable to Corp. Companies and loans from Corp. Companies 35 463172 126
Non-current liabilities   
− Bonds 200 000200 000
− Loans from third parties 2 2691 940
− Provisions 26 94288 366
Liabilities(3)272 686469 048

 

Share capital

 

 

 

41 009

 

41 009

Legal reserves   
− General reserves 148 740148 741
− Reserves from capital contributions 100 202161 715
− Reserves for treasury shares 5 4507 458
Retained earnings   
− Available earnings carried forward 691 779610 780
− Net profit for the year 100 56778 991
Equity(4)1 087 7471 048 694

 

Liabilities and equity

 1 360 4331 517 742

Download the Notes to the financial statements

Income statement

for the year ended 31 December 2012

1 000 CHFNotes2012 2011

 

Ordinary income from investments

 

147 077


74 198

Financial income 21 48830 228
Income from services provided to Corporate Companies 40 01440 684
Other income 3 4931 936
Income(6)212 072147 046
Ordinary expenses for investments 72 8105 737
Financial expenses 1  6 43215 268
Cost of services provided by Corporate Companies 2 0582 356
External expenses 16 06619 675
Personnel expenses 15 00613 749
Income taxes -86711 270
Expenses(7)111 50568 055
Net profit for the year 100 56778 991

1 Financial expenses contain also losses on foreign exchange.

Download the Notes to the financial statements

Statement of changes in equity

for the year ended 31 December 2012

1 000 CHFShare capitalGeneral
reserves1
Reserves from
capital
contributions1
Reserves for
treasury shares1
Retained earningsEquity
Balance as per 31 December 201082 018310 455  3 993614 2451 010 711
Net profit for the year    78 99178 991
Reduction in par value-41 009    -41 009
Reclassification reserves from capital contributions -161 715161 715   
Reclassification   3 465-3 465 
Rounding difference 1   1

 

Balance as per 31 December 2011

 

41 009

 

148 741

 

161 715

 

7 458

 

689 771

 

1 048 694

Net profit for the year    100 567100 567
Dividend from reserves from capital contributions  -61 513  -61 513
Reclassification   -2 0082 008 
Rounding difference -1   -1

 

Balance as per 31 December 2012

 

41 009

 

148 740

 

100 202

 

5 450

 

792 346

 

1 087 747

1 Legal reserves.

Notes to the financial statements

Contact us

Corporate Communications
Georg Fischer Ltd
Amsler-Laffon-Strasse 9
8201 Schaffhausen
Switzerland

kommunikation #at# georgfischer dot com

Proposal by the Board of Directors

Proposal by the Board of Directors for the appropriation of retained earnings 2012 and for the appropriation of reserves from capital contributions

1 000 CHF2012 2011

 

Net profit for the year

 

100 567

 

78 991

Earnings carried forward689 771614 245
Reduction/Allocation to treasury share reserves2 008-3 465
Retained earnings792 346689 771

 

Dividend payment

  
To be carried forward792 346689 771

Proposal by the Board of Directors for the appropriation of reserves from capital contributions

1 000 CHF2012 2011

 

Reserves from capital contributions carried forward from previous year

 

100 202

 
Reclassification from general reserves 161 715
Balance as per 31 December 2012100 202161 715

 

Dividend payment out of reserves from capital contributions1

 

-61 513

 

-61 513

To be carried forward38 689100 202

1 The dividend payment is based on the issued share capital as per 31 December 2012. No distribution will be made for treasury shares held by Georg Fischer Ltd.

The Board of Directors will propose to the Annual General Meeting of 20 March 2013 to carry forward retained earnings as of December 31, 2012 to new account and to pay out a dividend of CHF 15 per share out of reserves from capital contributions.

In the previous year, a dividend of CHF 15 per share free of 35% withholding tax was paid out of reserves from capital contributions according to the decision taken by the Annual General Meeting of 21 March 2012.

 

Schaffhausen, 14 February 2013

For the Board of Directors
The Chairman

Signature by Andreas Koopmann

Andreas Koopmann

Contact us

Corporate Communications
Georg Fischer Ltd
Amsler-Laffon-Strasse 9
8201 Schaffhausen
Switzerland

kommunikation #at# georgfischer dot com

Report of the Statutory Auditor

As statutory auditor, we have audited the accompanying financial statements of Georg Fischer Ltd, which comprise the balance sheet, income statement, statement of changes in equity and notes, for the year ended 31 December 2012.

Board of Directors’ responsibility

The Board of Directors is responsible for the preparation of the financial statements in accordance with the requirements of Swiss law and the Company’s articles of incorporation. This responsibility includes designing, implementing and maintaining an internal control system relevant to the preparation of financial statements that are free from material misstatement, whether due to fraud or error. The Board of Directors is further responsible for selecting and applying appropriate accounting policies and making accounting estimates that are reasonable in the circumstances.

Auditor’s responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Swiss law and Swiss Auditing Standards. Those standards require that we plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers the internal control system relevant to the entity’s preparation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control system. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of accounting estimates made, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the financial statements for the year ended 31 December 2012 comply with Swiss law and the Company’s articles of incorporation.

Other matter

The financial statements of Georg Fischer Ltd for the year ended 31 December 2011 were audited by another auditor who expressed an unqualified opinion on those statements on 16 February 2012.

Report on other legal requirements

We confirm that we meet the legal requirements on licensing according to the Auditor Oversight Act (AOA) and independence (article 728 CO and article 11 AOA) and that there are no circumstances incompatible with our independence.

In accordance with article 728a paragraph 1 item 3 CO and Swiss Auditing Standard 890, we confirm that an internal control system exists which has been designed for the preparation of financial statements according to the instructions of the Board of Directors.

We further confirm that the proposed appropriation of available earnings complies with Swiss law and the company’s articles of incorporation. We recommend that the financial statements submitted to you be approved.

PricewaterhouseCoopers Ltd

signatures_Stefan-Raebsamen

Stefan Räbsamen
Audit expert
Auditor in charge

Zurich, 14 February 2013

signatures_Diego--Alvarez

Diego J. Alvarez
Audit expert

Contact us

Corporate Communications
Georg Fischer Ltd
Amsler-Laffon-Strasse 9
8201 Schaffhausen
Switzerland

kommunikation #at# georgfischer dot com