Consolidated Financial Statements Geberit Group

Notes to the Consolidated Financial Statements

  1. 1. Basis of preparation

  2. 2. Changes in Group organization

  3. 3. Summary of significant accounting policies

  4. 4. Risk assessment and management

  5. 5. Management of capital

  6. 6. Marketable securities

  7. 7. Trade accounts receivable

  8. 8. Other current assets and current financial assets

  9. 9. Inventories

  10. 10. Property, plant and equipment

  11. 11. Other non-current assets and non-current financial assets

  12. 12. Goodwill and intangible assets

  13. 13. Short-term debt

  14. 14. Other current provisions and liabilities

  15. 15. Long-term debt

  16. 16. Derivative financial instruments

  17. 17. Retirement benefit plans

  18. 18. Participation plans

  19. 19. Deferred tax assets and liabilities

  20. 20. Other non-current provisions and liabilities

  21. 21. Contingencies

  22. 22. Capital stock and treasury shares

    The total number of issued Geberit shares at December 31, 2011, was 39,847,005.

    Geberit AG repurchased 1,391,000 shares in the course of the share buyback program 2006. These shares were retired in the course of the capital reduction. As at July 6, 2011, the approved capital reduction was executed.

      2011 2010
      pcs. pcs.
    Issued shares    
    January 1 41,238,005 40,971,574
    Additional shares from Convertible Bond 0 266,431
    Capital reduction as at July 6, 2011 -1,391,000 0
    December 31 39,847,005 41,238,005

     

    In 2011 and 2012, a new share buyback program will be executed. Shares amounting to a total of a maximum of 5% of the share capital recorded in the Commercial Register will be repurchased via a separate trading line, less withholding tax, and retired by means of a capital reduction. A total of 1,026,000 shares in the amount of MCHF 192.5 had been repurchased by December 31, 2011. The Board of Directors will propose the shareholders on the next General Meeting to retire these shares. Based on the closing price of the Geberit registered share on December 31, 2011, and the average price of the already repurchased shares, the value of the total shares to be bought back amounts to approximately MCHF 380.

    As of December 31, 2011, the Group held a total of 1,300,551 (PY: 1,695,196) treasury shares with a carrying amount of MCHF 229.4 (PY: MCHF 213.0). In 2011, the Group decreased the net number of treasury shares by 394,645. Treasury shares are deducted at cost from equity.

      2011 2010
      pcs. pcs.
    Stock of treasury shares    
    From share buyback programs 1,026,000 1,391,000
    Other treasury shares 274,551 304,196
    Total treasury shares 1,300,551 1,695,196

     

    For transactions in connection with the participation plans, see → Note 18.

  23. 23. Earnings per share

  24. 24. Cash discounts and customer bonuses

  25. 25. Other operating expenses, net

  26. 26. Financial result, net

  27. 27. Income tax expenses

  28. 28. Cashflow figures

  29. 29. Segment reporting

  30. 30. Related party transactions

  31. 31. Foreign exchange rates

  32. 32. Subsequent events

  33. 33. Additional disclosures on financial instruments

  34. 34. Group companies as of December 31, 2011