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About us

1 Highlights

Key figures, reported

2021 2020 Change Continuing operations
2021
Continuing operations
2020
Continuing operations
Change
Net revenue (CHF millions) 1'101.7 1'069.2 +3.0 % 947.6 823.3 +15.1 %
EBITDA before non-recurring items1 (CHF millions) 241.8 211.0 +14.6 % 225.6 188.5 +19.7 %
as % of net revenue 21.9 % 19.7 % n/a 23.8 % 22.9 % n/a
EBIT before non-recurring items1 (CHF millions) 175.8 148.6 +18.3 % 160.4 130.2 +23.2 %
as % of net revenue 16.0 % 13.9 % n/a 16.9 % 15.8 % n/a
Operating result (EBIT) (CHF millions) 234.2 –315.9 n/a 160.4 130.2 +23.2 %

as % of net revenue (EBIT margin)

21.3 % –29.5 % n/a 16.9 % 15.8 % n/a
Net result (CHF millions) 194.0 –346.3 n/a 123.7 105.2 +17.6 %
as % of net revenue 17.6 % –32.4 % n/a 13.1 % 12.8 % n/a
ROCE1 (%) 23.8 % 20.4 % n/a 22.5 % 20.6 % n/a
Average capital employed (CHF millions) 738.0 729.4 +1.2 % 712.4 632.4 +12.7 %
Net cash from operating activities (CHF millions) 183.5 185.3 –1.0 %
Net cash used in investing activities (CHF millions) –23.1 –69.6 –66.8 %
Free cash flow1 (CHF millions) 160.4 115.7 +38.6 %
Net cash used in financing activities (CHF millions) –113.0 –132.7 –14.8 %
Net change in cash and cash equivalents1 (CHF millions) 47.4 –17.0 n/a
Cash, cash equivalents and money market investments (CHF millions) 279.6 169.5 +65.0 %
Capital expenditures1 (CHF millions) 110.9 90.8 +22.1 %
Total assets (CHF millions) 1'261.0 1'106.9 +13.9 %
Equity (CHF millions) 948.3 735.1 +29.0 %
as % of total assets 75.2 % 66.4% n/a

Number of employees at 31 December

6'909

6'748 +2.4 %

Full-time equivalents at 31 December

6'805 6'634 +2.6 %

Per share data

2021 2020
Earnings per bearer share (CHF) 11.41 –20.37
Dividend per bearer share (CHF)

4.201

3.20

Distribution yield at 31 December 1.0 % 1.2 %
Market price (high/low) per bearer share (CHF) 409 / 251 264 / 126

2 Letter to the Shareholders

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Focused Datwyler achieves profitable growth

3 Business Areas

3.1 Healthcare Solutions

System-critical components
to improve patients' lives

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Target groups
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Products and services
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Geographical markets

Key figures
Healthcare Solutions

2021 2020 Change

Net revenue (CHF millions)

466.8

403.4

+15.7 %

Operating result (EBIT) (CHF millions)

104.6

79.2

+32.1 %

as % of net revenue (EBIT margin)

22.4 %

19.6 %

n/a

ROCE1

26.4 %

23.7 %

n/a

Average capital employed1 (CHF millions)

396.1 334.2

+18.5 %

Capital expenditures1 (CHF millions)

69.3 54.4

+27.4 %

Full-time equivalents at 31 December

2'480

2'228

+11.3 %

3.2 Industrial Solutions

Development partner for innovation leaders

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Target groups
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Products and services
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Geographical markets

Key figures
Industrial Solutions

20212

20202

Change

Net revenue (CHF millions)

488.4

427.5

+14.2 %

Operating result (EBIT)) (CHF millions)

55.8

50.4

+10.7 %

as % of net revenue (EBIT margin)

11.4 %

11.8 %

n/a

ROCE1

17.8 %

17.1 %

n/a

Average capital employed1 (CHF millions)

313.3

294.8

+6.3 %

Capital expenditures1 (CHF millions)

40.5

33.7

+20.2 %

Full-time equivalents at 31 December

4'200

4'015

+4.6 %

4 Sustainability

4.1 Sustainable approach to management

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4.2 Sustainability strategy

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Our twelve Environmental, Social, and Governance (ESG) focus topics for further development
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5 Corporate Governance

5.1 Group structure and shareholders

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Substantial shareholders and shareholder structure

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Group structure and companies

5.2 Capital structure

Composition of share capital

At December 31st 2021, in CHF

22'000'000 registered shares of CHF 0.01 each 220'000
12'600'000 bearer shares of CHF 0.05 each 630'000
Total ordinary share capital 850'000
Authorised additional share capital none
Authorised contingent share capital none
Participation certificates none
Profit-sharing certificates none
Registration and voting restrictions none
Opting-out and opting-up provisions none

5.3 Internal organisation

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Role of the Board of Directors

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Main responsibilities and operation of the Board

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Operation of the Committees

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Audit Committee

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Nomination and Compensation Committee

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Division of responsibilities between the Board of Directors and Executive Management

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Information and control systems for monitoring the Executive Management

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Internal Audit

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Risk Management

5.4 Board of Directors

Annual Report 2021
Annual Report 2021
Annual Report 2021
Annual Report 2021
Annual Report 2021
Annual Report 2021
Annual Report 2021
Annual Report 2021
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Changes in the composition of the Board of Directors

5.5 Executive Management

Annual Report 2021
Annual Report 2021
Annual Report 2021
Annual Report 2021
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Changes in the Executive Management in the reporting year

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Changes in the Executive Management in the reporting year

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Management contracts

5.6 Remuneration, shareholdings and loans

5.7 Shareholders' participation rights

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Voting restrictions and proxy voting

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Calling of general meetings and additions to the agenda

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Share registration

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Change of control and defensive measures

5.8 Statutory auditors

Fees paid in 2021 to the
statutory andother auditors

In CHF

Statutory auditors Other auditors
Auditing services, total 580'000 212'000
Additional services, total 6'000 161'000
Tax consulting 6'000 159'000
Legal consulting 2'000
Transaction services
Other advisory services

5.9 Information policy

6 Remuneration Report

6.1 Remuneration governance framework

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Nomination and Compensation Committee

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Responsibilities of the Nomination and Compensation Committee:

Approval levels

Proposal

Review

Approval

Remuneration principles (Articles of Association)

Nomination and Compensation Committee

Board of Directors Annual General Meeting (binding vote)

Remuneration models for the Board of Directors and Executive Management

Nomination and Compensation Committee Board of Directors

Remuneration Report

Nomination and Compensation Committee Board of Directors Annual General Meeting (consultative vote)

Maximum aggregate amount of remuneration for Board of Directors

Nomination and Compensation Committee Board of Directors Annual General Meeting (binding vote)

Individual remuneration of Board of Directors members

Nomination and Compensation Committee Board of Directors

Maximum aggregate amount of remuneration for Executive Management

Nomination and Compensation Committee Board of Directors Annual General Meeting (binding vote)

Remuneration CEO

Nomination and Compensation Committee Board of Directors

Individual remuneration other members of Executive Management

CEO Nomination and Compensation Committee Board of Directors
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Determination procedure for the remuneration system

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Remuneration philosophy and principles

6.2 Remuneration structure of the Board of Directors

Remuneration model for
members of the Board of Directors

Cash
(CHF)
Blocked shares
(CHF)

Base fee

For Board membership

30'000 150'000

Additional fee

For special functions

Board chairmanship

100'000 180'000

Board vice-chairmanship

50'000

Committee chairmanship

40'000

Committee membership

20'000

6.3 Remuneration structure of the Executive Management

Remuneration model for
the Executive Management

Instrument

Purpose

Fixed base salary

Monthly cash payments To compensate for performance of duties and for qualifications required to perform the role

Variable incentive

Annual cash payment To reward collective business performance in the reporting year

Long-term incentive plan

Annual granting of performance share units with a vesting period of three years To drive sustainable results and create long-term alignment with shareholders' interests

Employer social insurance contributions and perquisites

Retirement pension, insurance and perquisites To protect against risks and reimburse business expenses
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Fixed base salary

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Variable incentive

Overview of calculation and
payout of the variable incentive

Target values in % of annual fixed base salary

CEO

COO, CFO, CTO

Net sales growth

relative to peers

45 %

11.25 % – 30 %

EBIT improvement

relative to peers

45 %

11.25 % – 30 %

Total (at target)

90 % 22.5 % – 60 %

Total (at maximum)

180 % 45 % – 120 %
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Peer group of companies to measure the collective performance

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Long-term incentive plan

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Peer group

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Reward for long-term performance

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Transition rules

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Employer social insurance contributions

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Perquisites

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Employment contracts

6.4 Remuneration in the reporting year 2021

Remuneration Executive Management in 2021

Table 1, in CHF

Surname and first name

Function

Fixed base salary, gross

Variable incentive, gross3

Performance Share Units4 Number

Performance Share Units4 Grant value

Employer social insurance contributions

Perquisites

Total remuneration

Lambrecht, Dirk1 CEO 655'000 924'750 2'636 650'169 395'837 10'012 2'635'768

Total for Executive Management2

1'799'000 1'609'301 5'537 1'365'701 1'054'458 62'842 5'891'302

Remuneration Executive Management in 2020

Table 2, in CHF

Surname and first name

Function

Fixed base salary, gross

Variable incentive, gross3

Performance Share Units4 Number

Performance Share Units4 Fair value

Employer social insurance contributions3

Perquisites

Total remuneration

Lambrecht, Dirk1 CEO 655'000 837'207 3'633 650'016 319'602 9'532 2'471'357

Total for Executive Management2

2'377'583 2'103'230 8'655 1'548'508 1'264'400 142'157 7'435'878

Remuneration Board of Directors in 2021

Table 3, in CHF

Surname and first name

Function

Fixed base salary,

gross

Share participation2

Number

Share participation2

Fair value

Employer social insurance contributions

Total remuneration

Hälg, Paul1

Chairman

130'000 1'125 330'075 27'804 487'879

Fässler, Hanspeter

Vice Chairman

70'000 682 200'099 17'712 287'811

Breu, Jens

Director

50'000 512 150'221 14'134 214'355

Cornaz, Claude R.

Director

50'000 512 150'221 14'134 214'355

Fedier, Jürg

Director

70'000 512 150'221 12'643 232'864

Hirzel, Martin

Director

30'000 512 150'221 12'386 192'607

Huber, Gabi

Director

50'000 512 150'221 11'163 211'384

Ulmer, Hanno

Director

50'000 512 150'221 11'963 212'184

Total for Directors

500'000 4'879 1'431'500 121'940 2'053'440

Remuneration Board of Directors in 2020

Table 4, in CHF

Surname and first name

Function

Fixed base salary,

gross

Share participation2

Number

Share participation2

Fair value

Employer social insurance contributions

Total remuneration

Hälg, Paul1

Chairman

130'000 2'016 330'019 26'890 486'909

Fässler, Hanspeter

Vice Chairman

110'000 1'406 230'162 23'311 363'473

Jens, Breu

Director

110'000 917 150'113 18'380 278'493

Cornaz, Claude R.

Director

70'000 917 150'113 15'382 235'495

Fedier, Jürg

Director

130'000 917 150'113 19'880 299'993

Huber, Gabi

Director

70'000 917 150'113 12'856 232'969

Ulmer, Hanno

Director

70'000 917 150'113 13'328 233'441

Zhang, Zhiqiang

Director

50'000 917 150'113 13'883 213'996

Total for Directors

740'000 8'924 1'460'859 143'910 2'344'769
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Remuneration of the Board of Directors

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Remuneration of the Executive Management

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Allocation of shares from the long-term incentive plan

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Remuneration of former members of the Board of Directors and Executive Management

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Loans and credits

6.5 Remuneration outlook

6.6 Report of the statutory auditor on the Remuneration Report

7 Financial Report

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Appendix

Portrait image of Guido Unternährer

Guido Unternährer

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Imprint

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Disclaimer