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Biohit A
nnual Report 2009
Annual Report 2009
Headquarters
Biohit Oyj
Factory
Biohit Oyj
www.biohit.com
Subsidiaries
GermanyBiohit Deutschland GmbHRaiffeisenstrasse 1a61191 Rosbach, GermanyTel: +49-6003-82 820Fax: +49-6003-828 222info@biohit.de
JapanBiohit Japan Co., Ltd.NB Building 6F2-15-10 Iwamoto-cho, Chiyoda-kuTokyo, 101-0032, JapanTel: +81-3-5822 0021Fax: +81-3-5822 0022sales@biohit.co.jp
United KingdomBiohit Ltd.Unit 1, Barton Hill WayTorquay, Devon TQ2 8JG,United KingdomTel: +44-1803-315 900Fax: +44-1803-315 530sales@biohit.demon.co.uk
FranceBiohit SAS2 Rue du Grand Chêne78830 Bonnelles, FranceTel: +33-1-3088 4130Fax: +33-1-3088 4102commercial.france@biohit.com
United StatesBiohit Inc.3535 Route 66, Bldg. 4Neptune, N.J. 07753, U.S.A.Tel: +1-732-922 4900Fax: +1-732-922 0557pipet@biohit.com
RussiaBiohit OOO, Saint PetersburgVO, line 5, 68, Unit 4, letter D199178 Saint Petersburg, RussiaTel: +7-812-327 5327Fax: +7-812-327 5323main@biohit.ru
Biohit OOO, MoscowPetrovsko-Razumovsky av., 29, Unit 2127287 Moscow, RussiaTel: +7-495-748 1613Fax: +7-495-613 5577main.moscow@biohit.ru
ChinaBiohit Biotech (Suzhou) Co., Ltd.Room 501, Office BlockHotel Equatorial65 Yan An Xi LuShanghai, 200040P.R. ChinaTel: +86-21-6248 5589Fax: +86-21-6248 7786Info.china@biohit.com
IndiaBiohit Biotech Systems (India) Private LimitedNo.10, Anna Avenue, Bhakthavatsalam Nagar,Adyar, Chennai 600020, Indiaindia.info@biohit.com
Representative Office
SingaporeBiohit Representative Office1 North Bridge Road #12-01 High Street Center, Singapore 179094Tel: +65-9797 0280 Fax: +65-6336 6534
Contents
Contents
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“The pioneer in safe liquid handling and the reliable diagnosis and prevention of diseases of the gastrointestinal tract. ”
Contents
Biohitinbrief
2009insummary
2009infigures
strategyandobjectives
Businessenvironment
LetterfromthePresidentandCeo
Liquidhandlingbusiness
Diagnosticsbusiness
Researchandinnovations
Personnel,qualityandtheenvironment
BoardofDirectors
Managementteams
Managementofsubsidiaries
Managementshareholdings
Glossary
Informationforshareholders
Financialstatements2009
2
i41000205_Biohit_sisus_EN.indd 2 20.4.2010 17.23
BIOHIT IN BRIEF
BIOHIT IN BRIEF
Biohit Oyj is a globally operating Finnish bio-
technology company that was established in
1988. The company’s mission is to improve hu-
man health and quality of life.
Liquid handling products
The diagnostics business
The Biohit Group employs
Biohit was listed
www.biohit.com
3
2009 IN SUMMARY
2009 IN SUMMARY
The global recession did not have a major im-
pact on the Biohit Group’s net sales in 2009.
Sales picked up substantially in the last quar-
ter. Particularly strong growth was seen in
Asia. The Group’s operations remained profit-
able.
Steady liquid handling business
Bolstering the growth potential of the diagnostics business
Consumer healthcare products – a new area for Biohit
Further investments
4
2009 IN FIGURES
2009 IN FIGURES
Net sales by business segment 2009 Net sales by geographical area 2009
Net sales 2005-2009, EUR 1,000
Profit/loss before taxes 2005-2009, EUR 1,000 Average number of personnel 2005-2009
Operating profit/loss 2005-2009, EUR 1,000
5
STRATEGY AND OBJECTIVES
STRATEGY AND OBJECTIVES
Biohit’s mission
Biohit’s vision
Growth through bolstering competitive factors
Robust foundations for the growth of the liquid handling
business
International expansion of the diagnostics business
6
The first electronic pipette launched in 1990
Subsidiaries and partners pave the way to the international market
in the 1990s
Development of GastroPanel begins in 1996
Into China in the 2000s
Development of the Acetium capsule completed in 2009
PIONEER IN LIQUID HANDLING
AND DIAGNOSTIC TESTS
7STRATEGY AND OBJECTIVES
BUSINESS ENVIRONMENT
BUSINESS ENVIRONMENT
Biohit acts on the global market. The compa-
ny’s key customer groups are healthcare, re-
search institution and industrial laboratories,
as well as general practices, healthcare cen-
tres and other organisations providing health-
care services. Consumers are a new customer
group for Biohit.
Slower growth in the global market for liquid handling
products
Growing demand for diagnosing diseases of the
gastrointestinal tract
8
BUSINESS ENVIRONMENT
Acetaldehyde is classified as a Group I carcinogen
LIQUID HANDLING
Products and services Customers
DIAGNOSTICS
Products and services Customers
XyliCyst
BioFood
BioFilter
GastroPanel
Helicobacter pylori quick test
Acetium
Lactose intolerance quick test
Celiac panel
Cellular Fibronectin
Calprotectin
IBD-panel
(Inflammatory Bowel Disease)
ColonView
Monoclonal Antibodies
Telomere antibodies (SLE)
GastroPanel laboratories
9
LETTER FROM THE
PRESIDENT AND CEO
LETTER FROM THE PRESIDENT AND CEO
Our earnings trend has now been positive for
two consecutive financial years and we have
expanded our business in spite of the global re-
cession. We believe that this development will
continue in 2010.
Changes in the business environment usher in pressures
The liquid handling business is in transition
10
LETTER FROM THE PRESIDENT AND CEO
Diagnostics business expands into consumer products
2010: a year of growth after the recession
11
LIQUID HANDLING BUSINESS
LIQUID HANDLING
BUSINESSBiohit’s liquid handling products – electronic
and mechanical pipettes and disposable pi-
pette tips – are used all over the world in re-
search institutions, universities and health-
care, and also in industrial laboratories in the
pharmaceutical, food and other industries.
Global network handles product distribution
Sales of pipette tips and maintenance are on the rise
New liquid handling products increase research safety
12
LIQUID HANDLING BUSINESS
LIQUID HANDLING BUSINESS 2009 2008
ERGONOMIC
PIPETTE KEEP
RESEARCHERS’
HANDS
HEALTHY
Maintenance business increases product life spans and
customer satisfaction
Biohit offers training to enable end-users to get better
results
Outlook for the future
13
DIAGNOSTICS BUSINESS
The key objective of the diagnostics business
is to develop products for the diagnosis and
prevention of diseases of the gastrointestinal
tract: Biohit’s reliable and cost-effective diag-
nostic tests and products that reduce carcino-
genic acetaldehyde. Reliable diagnostic meth-
ods speed up diagnosis and yield cost-savings
in healthcare.
Sales of test kits increase in 2009
Cost-effectiveness in healthcare
DIAGNOSTICS
BUSINESS
14
DIAGNOSTICS BUSINESS
Reliable research for risk diagnosis
Eliminating carcinogenic acetaldehyde from the body and
certain foodstuffs
Outlook for the future
DIAGNOSTICS BUSINESS 2009 2008
15
RESEARCH AND
INNOVATIONS
RESEARCH AND INNOVATIONS
The most important principle guiding Biohit’s
R&D is to promote human health and wellbe-
ing. To achieve this aim, the company engages
in firm cooperation with many leading industry
experts, universities and research institutions
in a variety of countries. Biohit’s patent-pro-
tected products are the result of long-term ba-
sic and applied research. They have also con-
tributed to the launch of new studies and the
development of safe, ethical and cost-effective
medicine.
GastroPanel invention is the fruit of long-term R&D
16
RESEARCH AND INNOVATIONS
Acetaldehyde risk factors are based on strong scientific
evidence
A YOUNG RESEARCHER
DEVELOPS ACETIUM
Ten years ago, MSc (Pharm.) Tuuli Marvola, 33, was
invited to study methods for eliminating the adverse
effects of acetaldehyde in the human body. She will be
the ninth researcher to complete a doctoral thesis on
the topic.
17
PERSONNEL, QUALITY
AND THE ENVIRONMENT
PERSONNEL, QUALITY AND THE ENVIRONMENT
Biohit combines experience and innovation.
The Group’s personnel work in eleven coun-
tries.
Biohit focuses on the quality of products and operations as
a whole
18
PERSONNEL, QUALITY AND THE ENVIRONMENT 19
Quality assurance and maintenance services ensure top
quality throughout each product’s life cycle
Protecting the environment is important to us CHINESE PLANT ADOPTS LEAN
MANAGEMENT
19
BOARD OF DIRECTORS
Reijo Luostarinen
Mikko Salaspuro
Jukka Ant-Wuorinen
Osmo Suovaniemi
Kalle Kettunen
Eero Lehti
Reijo Luostarinen, born 1939
Jukka Ant-Wuorinen, born 1950
Kalle Kettunen, born 1964
Eero Lehti, born 1944
Mikko Salaspuro, born 1939
Osmo Suovaniemi, born 1943
BOARD OF DIRECTORS2020
Osmo Suovaniemi, born 1943
Jussi Heiniö, born 1962
Petteri Rehu, born 1972
Mikko Patrakka, born 1970
Erkki Vesanen, born 1956
MANAGEMENT TEAM, LIQUID HANDLING BUSINESS
Osmo Suovaniemi Petteri RehuJussi Heiniö
Mikko Patrakka Erkki Vesanen Kalle Härkönen
Seppo Riikonen
Kalle Härkönen, born 1968
Seppo Riikonen, born 1957
MANAGEMENT TEAM, LIQUID HANDLING BUSINESS 21
MANAGEMENT TEAM, DIAGNOSTICS BUSINESS
Osmo Suovaniemi, born 1943
Jussi Heiniö, born 1962
Petteri Rehu, born 1972
Yrjö E K Wichmann, born 1958
Osmo Suovaniemi Petteri Rehu
Tapani Tiusanen
Yrjö E K Wichmann
Jussi Heiniö
Lea Paloheimo
Lea Paloheimo, born 1951
Terhi Lampén, born 1973
Marjo Nikulin
Terhi Lampén
Marjo Nikulin, born 1958
Tapani Tiusanen, born 1956
MANAGEMENT TEAM, DIAGNOSTICS BUSINESS2222
MANAGEMENT OF SUBSIDIARIES
Venkat Rao
Ian Hemmings
Hideaki Mizoguchi,
Eirik Pettersen
Régis Carnis
Matthias Beuse
Victor Peppi
Robert P. Gearty
MANAGEMENT SHAREHOLDINGS ON 31 DECEMBER 2009
NAME POSITION SERIES A
SHARES
CHANGE
IN 2009
SERIES B
SHARES
CHANGE
IN 2009
MANAGEMENT OF SUBSIDIARIES 23
GLOSSARY
GLOSSARY
Accredited calibration
Acetaldehyde
Amino acid
Atrophic gastritis
Biomarker
Calibration
Colonoscopy
Cysteine
24
GLOSSARY
DNV
Dyspepsia
ELISA
FINAS
Gastrin-17
Gastroenterology
Gastroscopy
Helicobacter pylori
ISO 9001
ISO 13485
ISO 8 Clean Room
ISO 14001
ISO 8655
ISO 17025
Lean management
OEM
Pepsinogen I and II
Performance testing
Point-of-care test
Private label
RoHS
WEEE
2525
Annual General Meeting
Dividend payout
Shares
Financial reporting
Financial calendar 2010
INFORMATION FOR SHAREHOLDERS
INFORMATION FOR
SHAREHOLDERS
26
INFORMATION FOR SHAREHOLDERS
Silent period
Investor relations:
Communications and requests for materials:
27
A SUMMARY OF STOCK EXCHANGE RELEASES IN 2009
27
FINANCIAL STATEMENTS 2009
Report of the Board of Directors 2009 2
Corporate Governance statement 7
Consolidated statement of comprehensive income 12
Consolidated balance sheet 13
Consolidated statement of changes in
shareholders equity 14
Consolidated cash flow statement 15
Notes to the consolidated financial statements 16
Key ratios 35
Shares and shareholders 36
Formulas for the key ratios 38
Parent company income statement 39
Parent company balance sheet 40
Parent company cash flow statement 41
Notes to the parent company’s financial statements 42
The proposal of the Board of Directors
concerning the result for the financial year 49
Auditor’s report 50
2 REPORT OF THE BOARD OF DIRECTORS 20092
Net sales and result
Balance sheet
Financing
Research and development
Investments
REPORT OF THE BOARD OF DIRECTORS 2009
3REPORT OF THE BOARD OF DIRECTORS 2009 3
Personnel
Risk management and short-term risk
Outlook for 2010
Review by business area
6 REPORT OF THE BOARD OF DIRECTORS 20096
Convertible bonds
Capital loans
Events after the close of the reporting period
The Board of Directors’ proposal for the disposal of
earnings and distribution of other non-restricted equity
7CORPORATE GOVERNANCE STATEMENT 7
1 RULES OBSERVED BY BIOHIT
2 BIOHIT’S ADMINISTRATIVE BODIES
2.1 GENERAL MEETING
2.2 BOARD OF DIRECTORS
CORPORATE GOVERNANCE STATEMENT
8
CORPORATE GOVERNANCE STATEMENTCORPORATE GOVERNANCE STATEMENT8
Board of Directors in 2009The following persons were elected by the 2009 Annual Gen-eral Meeting to Biohit’s Board of Directors:
Reijo Luostarinen, born in 1939, DSc (Econ.), Professor• Chairman and non-independent member of the Board since
1993• Professor and Director of International Business at the Hel-
sinki School of Economics (HSE)
Jukka Ant-Wuorinen, born 1950, MSc (Econ.)• Independent member of the Board since 2009 • Chairman of the Boards of ANTON Invest Oy, Newcodent Oy
and Rukasuites
Eero Lehti, born 1944, MSc (Soc.Sc.)• Independent member of the Board since 2009• Member of Parliament since 2007• Founder of Taloustutkimus Oy and the Chairman of its Board• Head owner of Suomen Lehtiyhtymä Oy and the Chairman of
its Board
Kalle Kettunen, born 1964, MSc (Engin.), MBA• Independent member of the Board since 2008• CEO of Telko Oy
Mikko Salaspuro, born 1939, MD, PhD, Professor• Independent member of the Board since 2008• Specialist in internal medicine, gastroenterologist, and Pro-
fessor of Alcohol Diseases at the University of Helsinki
Osmo Suovaniemi, born 1943, MD, PhD, Professor• Non-independent member of the Board since 1988• Founder of Biohit and its President and CEO
The Board of Directors convened 10 times in 2009. The aver-age participation rate was 87%.
2.3 OPERATiVE MANAGEMENT
President and CEOThe President and CEO is responsible for the day-to-day man-agement of the company in accordance with the instructions and regulations given by the Board of Directors. The President and CEO of the parent company is elected by the Board and also acts as Group President. The President also ensures the le-gality of the company’s accounting and the reliable organisation of financial management. The terms of the President’s employ-ment are laid down in a written contract that is approved by the Board of Directors. The President cannot be elected Chairman of the Board.
Group Management TeamsBiohit has two Management Teams. The Diagnostics Manage-ment Team focuses on the diagnostics business and its devel-opment, while the Liquid Handling Management Team focuses on the liquid handling business and its development, as well as Group-level administration.
The duty of the Management Teams is to assist the President and CEO in planning and controlling the Group’s business op-
erations, in managing daily operations, and in preparing mat-ters to be submitted for consideration by the parent company’s Board.
The Management Teams comprise the President and CEO and the heads of the parent company’s functions. The following functions are represented: Sales and Marketing, Production, Fi-nance, Research and Development, Administration, and Qual-ity Systems. The President and CEO, or in his absence the VP of Administration and Legal Affairs, acts as Chairman of the Man-agement Teams.
The President and CEO appoints Management Team mem-bers and approves their employment contracts in accordance with the instructions given by the Board of Directors.
The Liquid Handling Management Team meets every other week as directed, and the Diagnostics Management Team meets once a month.
The Management Team members are presented on www.bio-hit.com in the section Management Teams and their sharehold-ings are presented in the Insider Register section.
Management of subsidiariesThe Managing Directors of subsidiaries and their Boards of Di-rectors – which report to the President and CEO of the parent company – are responsible for the management of subsidiary operations. The subsidiaries are responsible for the sales and marketing of Biohit’s products in their market areas. The man-agements of the subsidiaries operate under the management and supervision of the President and CEO and the VP of Ad-ministration and Legal Affairs. The Board of Directors of each subsidiary is composed of the VP of Administration and Legal Affairs and the Managing Director of the subsidiary as well as the necessary number of members of the Management Team of Biohit Oyj.
Each subsidiary’s Managing Director is responsible for ensur-ing that business operations are managed, planned, monitored, reported on and developed in accordance with the Group’s business plans.
Management 2009The President and CEO of Biohit is Professor Osmo Suovaniemi, MD, PhD (see above). The terms and conditions of the Presi-dent and CEO’s dismissal have yet to be confirmed. In 2009, the Liquid Handling Management Team included, in addition to the President and CEO, Jussi Heiniö (administration), Kalle Härkönen (production), Petteri Rehu (finance, until 31 March 2010), Mikko Patrakka (sales and marketing) and Seppo Riiko-nen (quality and IT). The Management Team convened a total of 21 times in 2009.
In addition to the President and CEO, the Diagnostics Man-agement Team included Jussi Heiniö (administration), Petteri Rehu (finance), Päivi Lipponen (sales and marketing, until 26 March 2010; Terhi Lampén as of 18 March 2010), Marjo Niku-lin (production), Lea Paloheimo (R&D and sales), Tapani Tiu-sanen (instrument and software development) and, as from the beginning of February 2010, Yrjö Wichmann as the head of the diagnostics business. Peter Tchernych, who started out as the di-rector of Biohit’s diagnostics business in June 2009, resigned in August due to personal reasons. The Diagnostics Management Team convened a total of 10 times in 2009.
i41000205_Biohit_tili_EN.indd 8 21.4.2010 14.17
9CORPORATE GOVERNANCE STATEMENT 9
3 MAIN CHARACTERISTICS OF THE INTERNAL CONTROL
OF THE FINANCIAL REPORTING PROCESS AND RISK
MANAGEMENT
14 CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY14
CONSOLIDATED STATEMENT OF CHANGES IN
SHAREHOLDERS’ EQUITY
16 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS16
2.1 COMPANY PROFILE
2.2 ACCOUNTING POLICY APPLIED IN THE FINANCIAL
STATEMENTS
Accounting policy
Subsidiaries
Translation of items denominated in foreign currency
Business segments
2 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
17NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS 17
Income recognition
Property, plant and equipment
Costs of debt
Public grants
Intangible assets
Research and development expenditure
Other intangible assets
Impairment of tangible and intangible assets
18 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS18
Inventories
Lease agreements
Pension obligations
Provisions
Taxes on the taxable income for the period and
deferred taxes
Financial assets and liabilities
19NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS 19
Impairment of financial assets
Definition of operating profit or loss
Accounting principles requiring judgements by
management and key sources of estimation uncertainty
Impairment testing
Deferred tax assets
Application of new or amended IFRS standards and IFRIC
interpretations
20 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS20
The Group will adopt the following standards, amend-
ments and interpretations that will not have a substantial
significance to the Group on 1 January 2010:
2.3 SEGMENT-BASED REPORTING
21NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS 21
2.4 OTHER OPERATING INCOME
2.5 MATERIALS AND SERVICES
22 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS22
2.6 EMPLOYEE BENEFIT EXPENSES
2.7 DEPRECIATION
2.8 OTHER OPERATING EXPENSES
2.9 RESEARCH AND DEVELOPMENT EXPENDITURE
2.10 FINANCIAL INCOME AND EXPENSES
23NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS 23
2.11 INCOME TAXES
2.12 EARNINGS PER SHARE
2.13 INTANGIBLE ASSETS
2424
INTANGIBLE ASSETS
Goodwill impairment test
Impairment testing sensitivity analysis
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS
2525
Whether or not the projected net sales figures are achieved depends largely on the following factors:
2.14 TANGIBLE ASSETS
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS
2626
2.15 FINANCIAL ASSETS AND LIABILITIES BY CATEGORY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS
2727
2.16 DEFERRED TAXES
2.17 INVENTORIES
2.18 TRADE AND OTHER RECEIVABLES
2.19 CASH AND CASH EQUIVALENTS
2.20 SHARE CAPITAL AND EQUITY FUNDS
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS
2828
Description of shareholders’ equity funds:
2.21 PENSION LIABILITIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS
2929
2.22 INTEREST-BEARING LIABILITIES
Convertible bonds
Covenants related to non-current loans
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS
3030
Capital loans
Financial leasing liabilities
2.23 TRADE PAYABLES AND OTHER LIABILITIES
2.24 MANAGEMENT OF FINANCIAL RISKS
Exchange rate risk
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS
3131
Sensitivity analysis of changes in foreign currency exchange rates in accordance with IFRS7
Interest rate risk
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS
3232
Sensitivity analysis of changes in interest levels in accordance with IFRS7
Liquidity risk
Financial liability maturity analysis 2009
Financial liability maturity analysis 2008
Commodity risk
Credit and counterparty risk
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS
3333
Equity structure management
2.25 OPERATING CASH FLOW ADJUSTMENTS
2.26 RELATED PARTY TRANSACTIONS
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS, IFRS
36
200
400
600
800
2005 2006 2007 2008 20090.5
1
2
3
4
5OMX Helsinki_PI
Share BIOBVTurnover volume (1,000 pcs)
Mon
thly
turn
over
, no
of s
hare
s
Shar
e pr
ice,
EU
R
1,000
36
4.1 SHARE TURNOVER AND AVERAGE PRICE
4.2 SHARES AND SHAREHOLDERS
Holdings by shareholder group, 31 Dec 2009
SHARES AND SHAREHOLDERS
4. SHARES AND SHAREHOLDERS
3737
Largest registered shareholders, 31 Dec 2009
Management’s shareholding, 31 Dec 2009
SHARES AND SHAREHOLDERS
4242
6.0 ACCOUNTING POLICY
Measurement of property, plant, and equipment
Measurement of inventories
Valuation of marketable securities
Research and development expenditure
Revenue recognition
Maintenance and repairs
Pensions
Deferred taxes
Foreign currency translation
NOTES TO THE PARENT COMPANY’S FINANCIAL STATEMENTS, FAS
6. NOTES TO THE PARENT COMPANY’S
FINANCIAL STATEMENTS
4343
6.1 NET SALES BY BUSINESS AREA
6.2 OTHER OPERATING INCOME
6.3 MATERIALS AND SERVICES
6.4 PERSONNEL EXPENSES AND NUMBER OF PERSONNEL
6.5 DEPRECIATION
NOTES TO THE PARENT COMPANY’S FINANCIAL STATEMENTS, FAS
4444
6.6 OTHER OPERATING EXPENSES
6.7 FINANCIAL INCOME AND EXPENSES
6.8 APPROPRIATIONS
6.9 INTANGIBLE ASSETS
NOTES TO THE PARENT COMPANY’S FINANCIAL STATEMENTS, FAS
4545
6.10 TANGIBLE ASSETS
6.11 SHARES AND HOLDINGS
NOTES TO THE PARENT COMPANY’S FINANCIAL STATEMENTS, FAS
4646
6.12 INVENTORIES
6.13 RECEIVABLES
6.14 MARKETABLE SECURITIES
6.15 CASH AND CASH EQUIVALENTS
6.16 SHAREHOLDERS’ EQUITY
Shares and voting rights
NOTES TO THE PARENT COMPANY’S FINANCIAL STATEMENTS, FAS
4747
6.17 DEFERRED TAX LIABILITIES AND ASSETS
6.18 NON-CURRENT LIABILITIES
6.19 CAPITAL LOANS
6.20 CURRENT LIABILITIES
NOTES TO THE PARENT COMPANY’S FINANCIAL STATEMENTS, FAS
4848
6.21 LIABILITIES AND COMMITMENTS WITH MORTGAGES AS COLLATERAL
NOTES TO THE PARENT COMPANY’S FINANCIAL STATEMENTS, FAS
4949THE PROPOSAL OF THE BOARD OF DIRECTORS CONCERNING THE RESULT FOR THE FINANCIAL YEAR
7. THE PROPOSAL OF THE BOARD OF DIRECTORS
CONCERNING THE RESULT FOR THE FINANCIAL YEAR
5050
To the Annual General Meeting of Biohit Oyj
The responsibility of the Board of Directors and the
Managing Director
Auditor’s responsibility
Opinion on the consolidated financial statements
Opinion on the company’s financial statements and
the report of the Board of Directors
AUDITOR’S REPORT
8. AUDITOR’S REPORT
Biohit A
nnual Report 2009
Annual Report 2009
Headquarters
Biohit Oyj
Factory
Biohit Oyj
www.biohit.com
Subsidiaries
GermanyBiohit Deutschland GmbHRaiffeisenstrasse 1a61191 Rosbach, GermanyTel: +49-6003-82 820Fax: +49-6003-828 222info@biohit.de
JapanBiohit Japan Co., Ltd.NB Building 6F2-15-10 Iwamoto-cho, Chiyoda-kuTokyo, 101-0032, JapanTel: +81-3-5822 0021Fax: +81-3-5822 0022sales@biohit.co.jp
United KingdomBiohit Ltd.Unit 1, Barton Hill WayTorquay, Devon TQ2 8JG,United KingdomTel: +44-1803-315 900Fax: +44-1803-315 530sales@biohit.demon.co.uk
FranceBiohit SAS2 Rue du Grand Chêne78830 Bonnelles, FranceTel: +33-1-3088 4130Fax: +33-1-3088 4102commercial.france@biohit.com
United StatesBiohit Inc.3535 Route 66, Bldg. 4Neptune, N.J. 07753, U.S.A.Tel: +1-732-922 4900Fax: +1-732-922 0557pipet@biohit.com
RussiaBiohit OOO, Saint PetersburgVO, line 5, 68, Unit 4, letter D199178 Saint Petersburg, RussiaTel: +7-812-327 5327Fax: +7-812-327 5323main@biohit.ru
Biohit OOO, MoscowPetrovsko-Razumovsky av., 29, Unit 2127287 Moscow, RussiaTel: +7-495-748 1613Fax: +7-495-613 5577main.moscow@biohit.ru
ChinaBiohit Biotech (Suzhou) Co., Ltd.Room 501, Office BlockHotel Equatorial65 Yan An Xi LuShanghai, 200040P.R. ChinaTel: +86-21-6248 5589Fax: +86-21-6248 7786Info.china@biohit.com
IndiaBiohit Biotech Systems (India) Private LimitedNo.10, Anna Avenue, Bhakthavatsalam Nagar,Adyar, Chennai 600020, Indiaindia.info@biohit.com
Representative Office
SingaporeBiohit Representative Office1 North Bridge Road #12-01 High Street Center, Singapore 179094Tel: +65-9797 0280 Fax: +65-6336 6534
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