annual report 2009 · 2019-08-19 · biohit in brief biohit in brief biohit oyj is a globally...

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 [email protected]

JapanBiohit Japan Co., Ltd.NB Building 6F2-15-10 Iwamoto-cho, Chiyoda-kuTokyo, 101-0032, JapanTel: +81-3-5822 0021Fax: +81-3-5822 [email protected]

United KingdomBiohit Ltd.Unit 1, Barton Hill WayTorquay, Devon TQ2 8JG,United KingdomTel: +44-1803-315 900Fax: +44-1803-315 [email protected]

FranceBiohit SAS2 Rue du Grand Chêne78830 Bonnelles, FranceTel: +33-1-3088 4130Fax: +33-1-3088 [email protected]

United StatesBiohit Inc.3535 Route 66, Bldg. 4Neptune, N.J. 07753, U.S.A.Tel: +1-732-922 4900Fax: +1-732-922 [email protected]

RussiaBiohit OOO, Saint PetersburgVO, line 5, 68, Unit 4, letter D199178 Saint Petersburg, RussiaTel: +7-812-327 5327Fax: +7-812-327 [email protected]

Biohit OOO, MoscowPetrovsko-Razumovsky av., 29, Unit 2127287 Moscow, RussiaTel: +7-495-748 1613Fax: +7-495-613 [email protected]

ChinaBiohit Biotech (Suzhou) Co., Ltd.Room 501, Office BlockHotel Equatorial65 Yan An Xi LuShanghai, 200040P.R. ChinaTel: +86-21-6248 5589Fax: +86-21-6248 [email protected]

IndiaBiohit Biotech Systems (India) Private LimitedNo.10, Anna Avenue, Bhakthavatsalam Nagar,Adyar, Chennai 600020, [email protected]

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


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


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


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


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

5REPORT OF THE BOARD OF DIRECTORS 2009 5

Administration

Shares and shareholders


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

10 CORPORATE GOVERNANCE STATEMENT10

4 AUDIT

5 INSIDERS

6 COMPENSATION

BIOHIT’S CORPORATE GOVERNANCE STATEMENT

12 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME12

CONSOLIDATED STATEMENT OF COMPREHENSIVE

INCOME

13CONSOLIDATED BALANCE SHEET 13

Assets

Equity and liabilities

CONSOLIDATED BALANCE SHEET

14 CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY14

CONSOLIDATED STATEMENT OF CHANGES IN

SHAREHOLDERS’ EQUITY

15CONSOLIDATED CASH FLOW STATEMENT, IFRS 15

CONSOLIDATED CASH FLOW STATEMENT

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


Inventories

Lease agreements

Pension obligations

Provisions

Taxes on the taxable income for the period and

deferred taxes

Financial assets and liabilities


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


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


2.4 OTHER OPERATING INCOME

2.5 MATERIALS AND SERVICES


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


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


2626

2.15 FINANCIAL ASSETS AND LIABILITIES BY CATEGORY


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


2828

Description of shareholders’ equity funds:

2.21 PENSION LIABILITIES


2929

2.22 INTEREST-BEARING LIABILITIES

Convertible bonds

Covenants related to non-current loans


3030

Capital loans

Financial leasing liabilities

2.23 TRADE PAYABLES AND OTHER LIABILITIES

2.24 MANAGEMENT OF FINANCIAL RISKS

Exchange rate risk


3131

Sensitivity analysis of changes in foreign currency exchange rates in accordance with IFRS7

Interest rate risk


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


3333

Equity structure management

2.25 OPERATING CASH FLOW ADJUSTMENTS

2.26 RELATED PARTY TRANSACTIONS


3434

2.27 CONTINGENT LIABILITIES


3535

3.1 KEY FINANCIAL RATIOS

3.2 KEY RATIOS PER SHARE

KEY RATIOS

3. KEY RATIOS

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

3838 FORMULAS FOR THE KEY RATIOS

5 FORMULAS FOR THE KEY RATIOS

3939PARENT COMPANY INCOME STATEMENT, FAS

PARENT COMPANY INCOME STATEMENT

4040

Assets

Liabilities

PARENT COMPANY BALANCE SHEET, FAS

PARENT COMPANY BALANCE SHEET

4141PARENT COMPANY CASH FLOW STATEMENT, FAS

PARENT COMPANY CASH FLOW STATEMENT

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


4444

6.6 OTHER OPERATING EXPENSES

6.7 FINANCIAL INCOME AND EXPENSES

6.8 APPROPRIATIONS

6.9 INTANGIBLE ASSETS


4545

6.10 TANGIBLE ASSETS

6.11 SHARES AND HOLDINGS


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


4747

6.17 DEFERRED TAX LIABILITIES AND ASSETS

6.18 NON-CURRENT LIABILITIES

6.19 CAPITAL LOANS

6.20 CURRENT LIABILITIES


4848

6.21 LIABILITIES AND COMMITMENTS WITH MORTGAGES AS COLLATERAL


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

Untitled-1 1 7.10.2004 07:36:33

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 [email protected]

JapanBiohit Japan Co., Ltd.NB Building 6F2-15-10 Iwamoto-cho, Chiyoda-kuTokyo, 101-0032, JapanTel: +81-3-5822 0021Fax: +81-3-5822 [email protected]

United KingdomBiohit Ltd.Unit 1, Barton Hill WayTorquay, Devon TQ2 8JG,United KingdomTel: +44-1803-315 900Fax: +44-1803-315 [email protected]

FranceBiohit SAS2 Rue du Grand Chêne78830 Bonnelles, FranceTel: +33-1-3088 4130Fax: +33-1-3088 [email protected]

United StatesBiohit Inc.3535 Route 66, Bldg. 4Neptune, N.J. 07753, U.S.A.Tel: +1-732-922 4900Fax: +1-732-922 [email protected]

RussiaBiohit OOO, Saint PetersburgVO, line 5, 68, Unit 4, letter D199178 Saint Petersburg, RussiaTel: +7-812-327 5327Fax: +7-812-327 [email protected]

Biohit OOO, MoscowPetrovsko-Razumovsky av., 29, Unit 2127287 Moscow, RussiaTel: +7-495-748 1613Fax: +7-495-613 [email protected]

ChinaBiohit Biotech (Suzhou) Co., Ltd.Room 501, Office BlockHotel Equatorial65 Yan An Xi LuShanghai, 200040P.R. ChinaTel: +86-21-6248 5589Fax: +86-21-6248 [email protected]

IndiaBiohit Biotech Systems (India) Private LimitedNo.10, Anna Avenue, Bhakthavatsalam Nagar,Adyar, Chennai 600020, [email protected]

Representative Office

SingaporeBiohit Representative Office1 North Bridge Road #12-01 High Street Center, Singapore 179094Tel: +65-9797 0280 Fax: +65-6336 6534

annual report 2009 · 2019-08-19 · biohit in brief biohit in brief biohit oyj is a globally...

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