About us (#)Anchor

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

Focused Datwyler achieves profitable growth (#)Anchor

Profit increase and higher dividend (#)Anchor

Record revenue from continuing operations (#)Anchor

Sustainable increase in profitability (#)Anchor

Transformation complete – focus on organic growth and targeted acquisitions (#)Anchor

Aerial view Yantai Xinhui Packing

Two-thirds of revenue in low cyclical, structurally growing markets (#)Anchor

System-critical elastomer components with low cost share and high barriers to entry (#)Anchor

Systemkritische Komponenten für die Abgasnachbehandlung

Core competency-based market development and innovation (#)Anchor

Further improvement in agility and digital competencies (#)Anchor

Enhanced sustainability strategy (#)Anchor


Confirmation of the medium-term target ranges (#)Anchor

Changes to the Board of Directors (#)Anchor

Portrait image of Paul Haelg

Dr. Paul Hälg

Portrait image of Dirk Lambrecht

Dirk Lambrecht

3 Business Areas

3.1 Healthcare Solutions

System-critical components
to improve patients' lives

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 %

Healthcare Solutions reports significant
growth in revenue and margins (#)Anchor

Revenue and earnings (#)Anchor

Important developments in 2021 (#)Anchor

Current priorities (#)Anchor

Outlook (#)Anchor

3.2 Industrial Solutions

Development partner for innovation leaders

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 %

Strong growth in
Industrial Solutions (#)Anchor

Revenue and earnings (#)Anchor

Important developments in 2021 (#)Anchor

Current priorities (#)Anchor

Outlook (#)Anchor

4 Sustainability

4.1 Sustainable approach to management


Our twelve Environmental, Social, and Governance (ESG) focus topics for further development (#)Anchor


4.3 Sustainability Report

5 Corporate Governance

5.1 Group structure and shareholders

Substantial shareholders and shareholder structure (#)Anchor

Group structure and companies (#)Anchor

5.2 Capital structure

Composition of share capital:
in CHF, at 31 December 2021

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

Role of the Board of Directors (#)Anchor

Main responsibilities and operation of the Board (#)Anchor

Operation of the Committees (#)Anchor

Audit Committee (#)Anchor

Nomination and Compensation Committee (#)Anchor

Division of responsibilities between the Board of Directors and Executive Management (#)Anchor

Information and control systems for monitoring the Executive Management (#)Anchor

Internal Audit (#)Anchor

Risk Management (#)Anchor

5.4 Board of Directors


5.5 Executive Management


5.6 Remuneration, shareholdings and loans

5.7 Shareholders' participation rights

5.8 Statutory auditors

Fees paid in 2021 to the statutory
and other 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

Nomination and Compensation Committee (#)Anchor

Responsibilities of the Nomination and Compensation Committee: (#)Anchor

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

Determination procedure for the remuneration system (#)Anchor

Remuneration philosophy and principles (#)Anchor

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

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 %

Peer group of companies to measure the collective performance
(#)Anchor

Long-term incentive plan (#)Anchor

Peer group (#)Anchor

Reward for long-term performance (#)Anchor

Transition rules (#)Anchor

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

Remuneration of the Board of Directors (#)Anchor

Remuneration of the Executive Management (#)Anchor

Allocation of shares from the long-term incentive plan (#)Anchor

6.5 Remuneration outlook

6.6 Report of the statutory auditor on the Remuneration Report


Appendix


Imprint (#)Anchor

Disclaimer (#)Anchor

Enquiries

Portrait image of Guido Unternährer

Guido Unternährer