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Ordentliche Generalversammlung der Goldbach Group AG Goldbach-Küsnacht, 26. April 2012
© 2012 Goldbach Group 2
1. Begrüssung & Einleitung Bruno Widmer, VR-Präsident
2. Genehmigung des Geschäftsberichts mit
Jahresbericht, Jahres- und Konzernrech-
nung 2011 sowie Kenntnisnahme von den
Berichten der Revisionsstelle
/ Rückblick auf 2011 Bruno Widmer
/ Die Ereignisse im Überblick Klaus Kappeler, CEO
/ Das Finanzergebnis Stephan Bergamin, CFO
/ Ausblick 2012 Klaus Kappeler
Agenda (1/2).
© 2012 Goldbach Group 3
3. Beschlussfassung über die Verwendung Bruno Widmer
des Bilanzgewinnes
4. Genehmigtes Kapital: Verlängerung der
Ermächtigung
5. Entlastung der Mitglieder des Verwaltungsrates
und der übrigen Geschäftsführungsorgane
6. Wahlen
7. Diverses
Agenda (2/2).
© 2011 Goldbach Group 4
© 2012 Goldbach Group 5
2. Genehmigung des Geschäftsberichts / Rückblick auf 2011 (Bruno Widmer)
Rückblick auf 2011.
6
/ Umsatzwachstum: CHF 446.0 Mio.
• Business Line Goldbach Media: CHF 337.7 Mio.
• Business Line Goldbach Audience: CHF 75.1 Mio.
• Business Line Goldbach Interactive: CHF 39.1 Mio.
(Corporate CHF – 6.0 Mio.)
/ EBIT Wachstum: CHF 30.0 Mio.
/ Internationaler Umsatzanteil: 13 %
© 2012 Goldbach Group
Meilensteine 2011.
7
/ January: launch of new TV portfolio
/ February: launch of Wilmaa time machine
/ March launch of Radio Spot Auditor
/ April: launch of Swiss Live TV Network
/ June: launch of Wilmaa Radio plattform
launch of TAO agency tool
/ July: launch of Goldbach Interactive Austria
sale of an additional part of ARBOmedia’s print-business
launch of local TV network representation in Romania
launch of Wilmaa EPG (Electronic Pogramme Guide)
/ August: end of ARBOmedia Squeeze-out process
/ September: launch of Goldbach Interactive Poland
/ December: management-buy-out ARBOmedia Moscow
sale of last print-business in Romania
© 2012 Goldbach Group
© 2012 Goldbach Group 8
/ Continuation of profitable growth in both segments, Online and Offline
/ Double digit growth in sales
/ Double digit growth in EBIT
/ Dependency on development of FX-rates due to international exposure
Erreichung der Ziele 2011.
Finanzresultate 2011 und Vorjahre.
© 2012 Goldbach Group 9
Core Business Result:
The Core Business Result excludes the Print Business in Romania (as it does not belong to the group‘s core operation) as well as positive and negative one-time
items above CHF 1m, mainly in connection with acquisitions and disposals of subsidiaries.
*Operating Expenses excluding Amortization, Depreciation and Impairment
Core Business 2011 2010 2009
Net Revenue 446.0 327.2 306.5
Gross Profit 99.0 78.0 72.2
EBIT 30.1 21.7 18.6
OPEX* -65.7 -53.3 -50.1
10
Goldbach Group Performance seit dem IPO.
© 2012 Goldbach Group
Quelle: Bloomberg, 25.04.2012
Entwicklung seit IPO
15. Juni 2007
Ausgabekurs CHF 42.-
Goldbach Group -42%
Offline Peers -29% (Havas, Publicis, WPP, Aegis,
PubliGroupe, Edipresse,
Tamedia, JC Decaux)
Online Peers -75% (AdLINK Internet Media, Ad
Pepper Media, ValueClick,
TradeDoubler)
SWX Media Index -45%
SPI -25%
Vergleich zu Peer-Gruppen & Benchmarks
5
10
15
20
25
30
35
40
45
50
55
60
Jun-0
7
Sep
-07
Dec-
07
Mar
-08
Jun-0
8
Sep
-08
Dec-
08
Mar
-09
Jun-0
9
Sep
-09
Dec-
09
Mar
-10
Jun-1
0
Sep
-10
Dec-
10
Mar
-11
Jun-1
1
Sep
-11
Dec-
11
Mar
-12
Goldbach Group Offline Peers Online Peers SWX Media Index SPI
© 2012 Goldbach Group 11
2. Genehmigung des Geschäftsberichts / Die Ereignisse im Überblick (Klaus Kappeler)
© 2012 Goldbach Group 12
/ Aim of the study:
- Finding out the awareness and image of Goldbach Group
- Comparison to the 2010 survey
/ Survey method and reporting:
- Conceived and carried out in the form of quantitative questions
- Online with follow-up calls made by DEMOSCOPE in the period from January 23rd to February 20th, 2012
- Approx. 2’000 addresses
- 107 participants
Follow-up Survey Swiss Advertising Market 2012.
© 2012 Goldbach Group 13
/ If you think about the communication scene in Switzerland, about publishing
(electronic publishers as well), agencies and content providers: Which is the
most interesting Swiss company for you at present in this area? And which one
or two other companies from the communication scene are also of interest to
you?
Knowledge of Marketing and Communication Scene.
© 2012 Goldbach Group 14
/ Which marketer ist the most interesting for electronic media? Are there
marketers even more interesting for electronic media?
The Most Interesting Marketers of Electronic Media.
© 2012 Goldbach Group 15
/ If you think about the media marketing scene in Switzerland: Which company is
the most interesting Swiss company for you? And which one to two other
companies from the media marketing scene are likewise interesting to you?
The Most Interesting Media Marketing Companies.
© 2012 Goldbach Group 16
/ Which business fields or media do you think of when you think about the
Goldbach Group (as a whole or as regards the individual companies?)
Spontaneous Associations With Goldbach Group.
17 © 2012 Goldbach Group
Continuing Strong net Revenue Growth.
1991 1997
1989 1992 1999
2000
2001
2002
2003
2004 2006
2005 2007
2008
2009
2010 1983
74.0 79.4 103.5
129.5
181.7
237.0
306.5
0.3 5.5 8.0
42.9
Sales
Radio + TV + Internet
327
2011
Goldbach Interactive
Austria
Poland
Czech Rep.
446
2012
The International Setup of Goldbach Group.
18
Offline:
Goldbach Media
(TV, Radio, Out-of-Home)
Online:
Goldbach Audience
Goldbach Interactive
Goldbach Mobile
Switzerland
Offline:
Goldbach Media (TV/out-of-home)
Online:
Goldbach Audience
Goldbach Interactive
Austria
Online:
Goldbach Interactive (Search)
Germany
WEST
Online:
Goldbach Audience
Croatia
Online:
Goldbach Audience
Serbia
Online:
Goldbach Audience
Slovenia
Adriatic EAST
Online:
Goldbach Interactive
Russia
Offline:
Goldbach Media (TV)
Online:
Goldbach Audience
Romania
Online:
ARBOmedia
Goldbach Interactive
Poland
Online:
Goldbach Czech Republic
Czech Republic
• 10 countries
• Headcounts Total: 542
• Headcounts Switzerland: 242
Status end of February 2012
© 2012 Goldbach Group
© 2012 Goldbach Group 19
Market Developments:
Swiss Advertising Market on the Level of 2006.
Quelle: Netto Werbeaufwand Schweiz der Stiftung Werbestatistik Schweiz (www.werbestatistik.ch). Semester Report Online 2011 von Media Focus für Internet. Interne Umsatzstatistiken von
Goldbach oder Schätzungen durch Goldbach für andere Medien im 2011.
in M
io.
CH
F
107 156 203 276 337 449 468 588 615 637 628 595
669 763 142 138 136 131 135 135
143 559
598 669 689 606
613 620
2299 2369
2487 2406
1915
2001 1913
3742 3921
4174 4169
3621
3902 3938
0
500
1000
1500
2000
2500
3000
3500
4000
4500
5000
0
500
1'000
1'500
2'000
2'500
3'000
3'500
4'000
4'500
5'000
2005 2006 2007 2008 2009 2010 2011e
Print total Kino OOH Teletext Radio total TV total Internet total Total Werbemarkt inkl. Online
• Print still declining
• Outdoor Advertising
on the level of 2006
• Sustainable growth in
elecronic media
© 2012 Goldbach Group 20
Switzerland:
TV Advertising Market Triples Itself Due to Private Offerings. 115
127
141
150
175
178
192
203
220
220
227
241
296
318
315 388
422 493
531
494
482
488
529
545
560
581
565
542 615 7
04
115
127
141
150
175
178
192
203
220
220
227
241
315
339
343
416
450
540
577
546
527
533
570
588
615
637
628
595
669
763
0
100
200
300
400
500
600
700
800
900
19
82
19
83
19
84
19
85
19
86
19
87
19
88
19
89
19
90
19
91
19
92
19
93
19
94
19
95
19
96
19
97
19
98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11e
TV Sponsoring
TV Spots
TV total
Quelle: Netto Werbeaufwand Schweiz der Stiftung Werbestatistik Schweiz (www.werbestatistik.ch). Semester Report Online 2011 von Media Focus für Internet. Interne Umsatzstatistiken von Goldbach oder
Schätzungen durch Goldbach für andere Medien im 2011.
© 2012 Goldbach Group 21
Quelle: Netto Werbeaufwand Schweiz der Stiftung Werbestatistik Schweiz (www.werbestatistik.ch). Semester Report Online 2011 von Media Focus für Internet. Interne Umsatzstatistiken von Goldbach oder
Schätzungen durch Goldbach für andere Medien im 2011.
Switzerland:
Continious Growth of Goldbach’s TV Market Share.
179 178 200 249
56 63 72
86
393 354 397 428
0%
20%
40%
60%
80%
100%
2008 2009 2010 2011e
SRG total CH-Private total Fenster total Anteil Goldbach total an TV total
• TV net revenue
Goldbach grew by
73 % to CHF 287 Mio.
(PY CHF 166 Mio.)
• organic growth
of TV net revenue
more than 20 %
© 2012 Goldbach Group 22
Quelle: Netto Werbeaufwand Schweiz der Stiftung Werbestatistik Schweiz (www.werbestatistik.ch). Semester Report Online 2011 von Media Focus für Internet. Interne Umsatzstatistiken von Goldbach oder
Schätzungen durch Goldbach für andere Medien im 2011.
Switzerland:
Special Advertising Formats Become More Important in Radio.
• Sponsoring
and special
advertising
formats double
share of total
Radio adverti-
sing revenue to
28 %
• SRG Radios
generate a third
of the segment
85% 88% 86% 84% 82% 81% 80% 80% 75% 78% 78% 78% 73% 72%
0%
20%
40%
60%
80%
100%
0
50
100
150
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011e
Radio Sponsoring total Privatradio Spot total Radio total Goldbach Anteil am Radiomarkt
CH
F 1
14
Mio
.
CH
F 1
42
Mio
.
CH
F 1
43
Mio
.
15% 13%
14% 16% 19% 20%
20% 20%
25% 22% 22% 22% 27%
28%
85% 88% 86% 84% 82% 81% 80% 80% 75% 78% 78% 78% 73% 72%
© 2012 Goldbach Group 23
Switzerland:
Video will lead Display to Growth.
Quelle: Netto Werbeaufwand Schweiz der Stiftung Werbestatistik Schweiz (www.werbestatistik.ch). Semester Report Online 2011 von Media Focus für Internet. Interne Umsatzstatistiken von
Goldbach oder Schätzungen durch Goldbach für andere Medien im 2011.
Display split:
34% 33% 29% 34% 38% 34% 30%
17% 17% 22%
25% 28%
28% 30%
49% 49% 49% 41%
34% 38% 40%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2005 2006 2007 2008 2009 2010 2011e
Rubriken Search Display+Affiliate
11%
89%
Instream
Video
other Display/
Affiliate
advertising
© 2012 Goldbach Group 24
PWC: Market Developments
German and Polish Advertising Market.
Source: PWC Global Entertainment & Media Outlook 2011 – 2015
0
1000
2000
3000
4000
5000
6000
7000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Wired internet advertising Newspaper publishing advertising
Radio advertising Television advertising
Eu
ro m
illio
ns.
Germany Poland
Eu
ro m
illio
ns.
0
200
400
600
800
1000
1200
1400
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
© 2012 Goldbach Group 25
Goldbach goes Multi Screen:
Goldbach «Bewegtbild» in any Channel - on any Screen.
TV / AdScreen Tablet Mobile PC
Internet TV: The Media of „Digital Natives“.
26
Source: KommTech Studie 2012, IGEM and PublicaData. Daten für Personen über 15 Jahren, CH-Total
User Intensity TV (f.e. Wilmaa, Zattoo etc.)
/ Already half of the young Swiss people are using Internet TV such as Wilmaa or Zattoo
/ Over 23 % of this target group are using Internet TV once a week at least
27
2 3 5
16
49
6 7
10
26 28
2 3 5
18
23
0 2
5
16
9
1 1 2
5
NutzungInternet-TV
Täglich oderfast täglich
Mehrmals proWoche
Ungefähreinmal pro
Woche
Weniger alseinmal pro
Woche
Personen ab 15 Jahren 15-24 25-44 45-64 65+
15
20
27
0%
10%
20%
30%
40%
50%
Nutzung Internet-TV imJahresvergleich
Ante
il alle
r B
efr
agte
n
2009 2010 2011
+34%
© 2012 Goldbach Group
© 2012 Goldbach Group 27
The Goldbach Video Network ist THE Solution for
Modern, Cross Media Multi Screen Communication.
© 2012 Goldbach Group 28
2. Genehmigung des Geschäftsberichts / Das Finanzergebnis (Stephan Bergamin)
© 2012 Goldbach Group 29
/ Strong Sales growth of +35.4% despite of negative currency impacts:
- Media +61.9% (currency adjusted +62.2%)
- Audience -15.4% (currency adjusted -9.3%)
- Interactive +4.1% (currency adjusted +9.4%)
/ EBIT Margin (Core Business) increase from 6.6% to 6.7%:
- Media: From 10.2% to 10.1%
- Audience: From 2.5% to 4.9%
- Interactive: From 8.5% to 5.9%
/ EBIT growth (Core Business) compared to PY of 38.4%:
- Media +59.9%
- Audience +62.0%
- Interactive -27.0%
Financial Highlights 2011.
© 2012 Goldbach Group 30
Explanatory comments.
/ Major Changes in Scope of Consolidation:
- After the completion of the squeeze-out procedure of ARBOmedia AG, Munich in
August 2011, Goldbach Group owns 100% of the company. Subsequently the shares of
ARBOmedia were delisted from the Stock Exchange in Frankfurt.
- In the second half-year 2011 the group sold the two remaining Romanian print
publishing companies Dunarea de Jos S.A. and Grupul de Presa Medianet S.A. With
the sale of these two companies, the disposal of the Print business in Romania is
completed.
/ Change in Presentation of Operating Segments:
- Since January 1, 2011 Goldbach Group reports in 3 Business Lines. The former Offline
Segment is renamed to Business Line Media. The former Online segment is divided
into the Business Lines Interactive and Audience. The prior year figures were adjusted
accordingly.
© 2012 Goldbach Group 31
Impact of one-time items in 2011 and 2010.
1) Loss in relation to the sale of Print Business contains negative currency impact of CHF -1.6m
2) Figures relate to continuing operations in 2011
Core Business Result:
The Core Business Result excludes the Print Business in Romania (as it does not belong to the group‘s core operation) as well as positive and negative one-time
items above CHF 1m, mainly in connection with acquisition of ARBOmedia.
in CHFm2011
Reported
Disposal
Business 1)
one-time
items
acquisition
ARBOmedia
-2011 Core
Business
delta
in CHFm
delta
in %
delta
in CHFm
delta
in %
Net Sales 446.0 - - - 446.0 116.6 35.4% 118.8 36.3%
EBITDA 37.3 - 4.0 - 33.4 8.2 28.3% 8.6 34.9%
EBIT 30.0 - -0.1 - 30.1 6.7 28.8% 8.3 38.4%
Net Profit 6.0 -2.5 0.1 - 8.4 0.9 18.7% -0.5 -6.1%
in CHFm2010
Reported 2) Print
one-time
items
acquisition
ARBOmedia
EU decision
on German
Tax Law
2010 Core
Business
Net Sales 329.4 2.2 - - 327.2
EBITDA 29.1 -0.7 5.1 - 24.7
EBIT 23.3 -0.9 2.4 - 21.7
Net Profit 5.1 -1.6 2.2 -4.5 9.0
2011
2010
Core BusinessReported
© 2012 Goldbach Group 32
Key Figures – Reported Values.
1) Figures relate to continuing operations in 2011
* Operating Expenses excluding Depreciation, Amortization and Impairments
** Includes Financial Result, Income Taxes and Non Controlling Interests
-100,000
-
100,000
200,000
300,000
400,000
500,000
Net Sales Gross Profit OPEX* EBITDA EBITOther
Expenses**Disc Ops
(Print) Net Income
YE 2010 1) 329,394 78,563 -49,471 29,092 23,293 -17,615 -607 5,071
YE 2011 446,030 99,044 -61,716 37,328 30,007 -21,384 -2,605 6,018
in T
CH
F
+26.1%
+24.8%
+28.3 % +28.8% +18.7%
+35.4%
+21.4%
© 2012 Goldbach Group 33
Double Digit Sales Growth – adverse FX impact.
/ Net Sales by Business Line
* Growth in Local Currency
-50,000
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
Media Audience InteractiveCorporate /
ConsoTotal Group
2010 208,602 88,845 37,578 -5,631 329,394
2011 337,724 75,173 39,135 -6,002 446,030
in T
CH
F
+61.9%
-15.4%
+4.1%
+35.4%+62.2%*
-9.3%*
+9.4%*
+37.9%*
-50,000
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
2010 2011
Interactive 37,578 39,135
Audience 88,845 75,173
Adscreen, TXT & Other 3,768 3,342
Radio 34,142 42,992
TV 170,692 291,390
Other & Consolidation -5,631 -6,002
Total Sales 329,394 446,030
Gro
wth
Ra
te:
+ 71%
+ 26%
-15%
+4%
© 2012 Goldbach Group 34
Strong growth in TV and Radio.
/ Net Sales by Productline & Relative share of Total 3rd Sales by
Productline
Gro
wth
Rate
:
Gro
wth
Rate
:
65%10%
1%
15%
9%
52%
11%1%
25%
11%
© 2012 Goldbach Group 35
/ Gross Profit & Gross Margin
Increase in Gross Profit of +26.1%.
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
2010 2011
Gross Profit 78,563 99,044
Gross Margin 23.9% 22.2%
in T
CH
F
Gross Profit +26.1%
Gross Margin -1.7 percentage
points due to Business Line
Media
© 2012 Goldbach Group 36
/ Operating Expenses
OPEX increase of 24.9% vs Sales increase of 35.4%.
-90,000
-80,000
-70,000
-60,000
-50,000
-40,000
-30,000
-20,000
-10,000
0
10,000
20,000
2010 2011
Other Opex -11,902 -12,110
Other Operating Income 9,405 6,989
Depr.,Amort. & Impairments -5,799 -7,321
IT & Communication -3,532 -3,127
Marketing & Research -5,698 -7,172
Personnel Expenses -37,744 -46,296
Total OPEX -55,270 -69,037
in T
CH
F
© 2012 Goldbach Group 37
EBITDA and EBIT Core Result.
Core Business Result:
The Core Business Result excludes the sold Print Business in Romania (as it did not belong to the group‘s core operation) as well as positive and negative one-time
items above CHF 1m, mainly in connection with acquisitions and disposals of subsidiaries.
/ EBITDA growth +34.9%
/ EBIT growth +38.4%
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
2010 2011
EBITDA 24,718 33,351
EBITDA Margin (in % of Net Sales)
7.6% 7.5%
in T
CH
F
EBITDA Margin -0.1
percentage points
EBITDA+34.9%
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
2010 2011
EBIT 21,744 30,086
EBIT Margin (in % of Sales)
6.6% 6.7%
in T
CH
F
EBIT Margin +0.1 percentage points
EBIT+38.4%
© 2012 Goldbach Group 38
EBIT by Business Lines – Core Result.
in T
CH
F
Core Business Result:
The Core Business Result excludes the sold Print Business in Romania (as it did not belong to the group‘s core operation) as well as positive and negative one-time
items above CHF 1m, mainly in connection with acquisitions and disposals of subsidiaries.
/ Media:
/ EBIT growth +60%
/ Audience:
/ EBIT-margin doubled
/ Interactive:
/ International Roll-out
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
2010 2011
EBIT 21,256 33,987
EBIT Margin 10.2% 10.1%
EBIT+59.9%
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2010 2011
EBIT 2,258 3,657
EBIT Margin 2.5% 4.9%
EBIT+62.0%
-
500
1,000
1,500
2,000
2,500
3,000
3,500
2010 2011
EBIT 3,185 2,326
EBIT Margin 8.5% 5.9%
EBIT-27.0%
2010
© 2012 Goldbach Group 39
Impact on key figures due to the strong growth in TV. 2011
Net Sales
Gross Profit
OPEX (excl. amortization)
EBIT
/ Key Figures – Relative Share by Business Line (Core Result)
Media Audience Interactive
Media Audience Interactive
61%22%
17%
48%
25%
27%
85%
9%6%
64%
25%
11%
56%26%
18%
44%
34%
22%
80%
8%
12%
76%
15%
9%
-13,000
-11,000
-9,000
-7,000
-5,000
-3,000
-1,000
1,000
2010 2011
Financial Result -719 -857
Income Taxes -9,532 -7,767
Non Controlling Interests -7,364 -12,760
Net profit/(loss) f. disc.operations
-607 -2,605
Total -18,222 -23,989
in T
CH
F
© 2012 Goldbach Group 40
/ Other Expenses, NCI, discontinued operations
Sale of Print and increase in Non Controlling Interests.
1) 2010: EU Decision on German Tax Law („Sanierungsklausel“) led to a one-time tax expense of TCHF 4‘492
2) In 2011 the remaining two print publishing companies were sold and therefore classified as discontinued operation. 2010 Figures were
adjusted accordingly. The 2011 figures includes Foreign Exchange Losses of CHF -1.6m previously recorded in Equity.
1)
2)
© 2012 Goldbach Group 41
/ Net Profit, share of Goldbach Group shareholders
Net Profit increase by 18.7%.
5,071
6,018
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
2010 2011
in T
CH
F
Net Profit
+18.7%
© 2012 Goldbach Group 42
Balance Sheet: Increased Equity.
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
200,000
Dec 2010 Dec 2011 Dec 2010 Dec 2011
Equity 57,171 62,073
Non-current Liabilities 42,064 35,084
Current Liabilities 99,349 100,359
Non-current Assets 59,050 47,185
Current Assets 139,534 150,331
Total 198,584 197,516 198,584 197,516
in T
CH
F
70%
30% 24 %
76%
50%
21%
29% 31%
18%
51%
© 2012 Goldbach Group 43
Equity ratio up from 28.8% to 31.4%.
/ Equity, Equity Ratio
57.262.1
+18.8 -0.8 -2.0-12.2
+1.1
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
Equity Dec 10
Profit of the Year
CTA AcquisitionNCI
Dividends Other Movements
Equity Dec 11
in m
CH
F
Equity Ratio:28.8%
Equity Ratio:31.4%
0
20,000
40,000
60,000
80,000
100,000
120,000
Cash Balance YE 2010*
Operating CF Investing CF Financing CF FX Difference Cash Balance YE 2011
in T
CH
F
28'961-3'952 -17'702
-57374'359
67'625
© 2012 Goldbach Group 44
/ Cash Flow Statement
Strong Operating Cash Flow.
* Adjusted for the discontinued operations
© 2012 Goldbach Group 45
2. Genehmigung des Geschäftsberichts / Ausblick 2012 (Klaus Kappeler)
© 2012 Goldbach Group 46
/ Guidance: - Single-digit sales growth - Increasing profitability and net profit
/ Depending on: - Macroeconmic development - Development of FX-rates due to international exposure
Ausblick 2012.
© 2012 Goldbach Group 47
2. Genehmigung des Geschäftsberichts mit
Jahresbericht, Jahres- und Konzernrechnung 2011
sowie Kenntnisnahme von den Berichten der
Revisionsstelle.
Der Verwaltungsrat beantragt, den Geschäftsbericht mit Jahresbericht,
Jahres- und Konzernrechnung für das Geschäftsjahr 2011 zu genehmigen.
© 2012 Goldbach Group 48
3. Beschlussfassung über die Verwendung des Bilanzgewinnes. Der Verwaltungsrat beantragt:
• Ausschüttung von CHF 0.71 pro Aktie aus den allgemeinen Reserven aus
Kapitaleinlage
• Vortrag auf neue Rechnung TCHF 16 956
Herleitung (Angaben in TCHF)
Gewinnvortrag 27 374
Jahresverlust – 10 508
Auflösung allgemeine Reserve aus Kapitaleinlage + 4 164
Veränderung Reserve für eigene Aktien + 90
Total zur Verfügung der Generalversammlung 21 120
Gewinnverwendung:
(i) Ausschüttung von CHF 0.71 pro Aktie aus den allgemeinen
Reserven aus Kapitaleinlage: 4 164
(ii) Vortrag auf neue Rechnung: 16 956
Total beantragte Gewinnverwendung 21 120
Total Ausschüttung 4 164
./.Anteil aus Reserven Kapitaleinlage – 4 164
Anteil übrige Reserven 0
© 2012 Goldbach Group 50
4. Genehmigtes Kapital: Verlängerung der Ermächtigung. Der Verwaltungsrat beantragt, die bestehende Ermächtigung des Verwaltungsrates,
das Aktienkapital jederzeit durch Ausgabe von höchstens 635’380 vollständig zu
liberierenden Namenaktien zu erhöhen, um zwei Jahre, d.h. bis zum 21. Mai 2014, zu
verlängern sowie die entsprechende Statutenanpassung zu genehmigen.
Statuten neu (Änderungen werden „fett“ hervorgehoben):
Art. 3b: Genehmigtes Kapital
«Der Verwaltungsrat ist ermächtigt, jederzeit bis zum 21. Mai 2014 das Aktienkapital um
maximal CHF 794’225 (siebenhundertvierundneunzigtausendzweihundertfünfundzwanzig
Franken) durch Ausgabe von höchstens 635’380 voll zu liberierenden Namenaktien mit
einem Nennwert von je CHF 1.25 zu erhöhen. Die neuen Namenaktien unterliegen der
Eintragungsbeschränkung von Art. 6 der Statuten. Erhöhungen auf dem Weg der Fest-
übernahme sowie Erhöhungen in Teilbeträgen sind gestattet. Der jeweilige Ausgabebetrag,
der Zeitpunkt der Dividendenberechtigung und die Art der Einlagen werden vom Ver-
waltungsrat bestimmt. Über eine allfällige Zuweisung nicht ausgeübter Bezugsrechte
entscheidet der Verwaltungsrat im Interesse der Gesellschaft. Das Bezugsrecht der
Aktionäre kann ausgeschlossen werden, wenn solche neuen Aktien für die öffentliche
Platzierung, die Übernahme von Unternehmen durch Aktientausch, zur Finanzierung oder
Refinanzierung des Erwerbs von Unternehmen, Unternehmensteilen oder Beteiligungen
und von neuen Investitionsvorhaben der Gesellschaft verwendet werden sollen»
© 2012 Goldbach Group 51
5. Entlastung der Mitglieder des Verwaltungsrates und
der übrigen Geschäftsführungsorgane
Der Verwaltungsrat beantragt, den Mitgliedern des Verwaltungsrates und
den Geschäftsführungsorganen für ihre Tätigkeit im Geschäftsjahr 2011
Entlastung zu erteilen.
© 2012 Goldbach Group 52
6. Wahlen
6.1. Verwaltungsrat
Der Verwaltungsrat beantragt, die bisherigen Mitglieder des Verwaltungs-
rates, namentlich die Herren
Bruno Widmer,
Dr. Beat Curti,
Peter A.C. Blum,
Dr. Patrick Eberle,
Ronald Sauser,
Michael Scheeren und
Joachim Schoss
für die statutarisch vorgesehene Amtsdauer von einem Jahr als Mitglieder
des Verwaltungsrates wieder zu wählen.
6.2. Aktienrechtliche Revisionsstelle
Der Verwaltungsrat beantragt, die BDO AG, Zürich, als aktienrechtliche
Revisionsstelle für eine weitere Amtsdauer von einem Jahr zu wählen.
© 2012 Goldbach Group 53
7. Diverses
GOLDBACH GROUP AG
Seestrasse 39
8700 Küsnacht
www.goldbachgroup.com
www.goldbachvideonetwork.com
© 2012 Goldbach Group 55
All the opinions and forecasts contained in this presentation are expressed and made
exclusively by Goldbach Group. Opinions and forecasts are forward-looking statements
that use expressions such as "expect", "believe", "attempt", "estimate", "intend",
"assume", "try" and similar formulations. These statements express Goldbach Group's
intentions, views or current expectations and assumptions. These forward looking
statements are based on current plans, estimates and forecasts made by Goldbach
Group in good faith, but no claims are made for their future accuracy. Forward-looking
statements involve risks and uncertainties that tend to be difficult to predict and that do
not usually lie within Goldbach Group's sphere of influence, or that of persons working
with Goldbach Group. It should be noted that actual events and consequences may
differ from those expressed or contained in the forward-looking statements, or turn out
to be more negative than expressly or implicitly assumed or described in this
presentation. This presentation does not constitutes a recommendation to buy
Goldbach Group shares.
Disclaimer
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