mobilezone holding ag annual report 2002.… · web at link to mobilezone holding ag translated...
TRANSCRIPT
m o b i l e z o n e h o l d i n g a g A n n u a l r e p o r t
2002
Credits
Copy: mobilezone holding ag
Editing: Christoph Zurfluh, Muri AG
Design: AfIT, Buergi & Partner, Oberglatt ZH
Photos: Marcel Studer, Zürich ; Archives mobilezone
Printing: Druckerei Horisberger, Regensdorf ZH
Data: Current press and publications
information is available in the
Web at www.mobilezone.ch
Link to mobilezone holding ag
Translated from
the original German
2002
Annual report 2002 mobilezone holding ag 29
m o b i l e z o n e h o l d i n g a g F i n a n c i a l r e p o r t
Group financial statements
Consolidated income statement 30
Consolidated balance sheet 31
Consolidated cash flow statement 32
Consolidated statement of changes in equity 33
Segment information 34
Notes to the consolidated financial statements 36
Report of the Group auditors 57
mobilezone holding ag Annual report
Income statement 58
Balance sheet 59
Notes to the financial statements 60
Report of the Statutory auditors 62
Company addresses 64
for the year ended December 31 2002 2001
( in CHF 000) Notes
Revenues 348,680 239,596
Sales deductions including VAT – 28,878 – 15,146
Net sales 1 319,802 224,450
Other operating income 1,555 0
Cost of materials and merchandise – 254,423 – 180,821
Personnel costs 2 – 36,464 – 19,441
Other operating costs 3 – 18,823 – 10,676
Operating profit before depreciation & amortization (EBITDA) 11,647 13,512
Depreciation of property, plant and equipment 6 – 3,150 – 1,998
Amortization of intangible assets 8 – 718 – 322
Impairment of intangible assets 8 – 27,127 – 1,853
Operating loss /profit (EBIT) – 19,348 9,339
Share of the result of associated companies 7 – 41 0
Other financial expenses 4 – 2,017 – 492
Financial income 332 81
Loss /profit before income taxes – 21,074 8,928
Income tax expense 5 – 3,341 – 2,988
Net loss /profit for the year – 24,415 5,940
( in CHF ) ( in CHF )
Earnings per share – basic 14 – 0.70 0.20
Earnings per share – diluted 14 – 0.70 0.20
m o b i l e z o n e G r o u p C o n s o l i d a t e d i n c o m e s t a t e m e n t
30 Annual report 2002 mobilezone holding ag
as of December 31 2002 2001
( in CHF 000) Notes
ASSETS
Land and buildings 6 4,843 0
Other property, plant and equipment 6 9,429 6,775
Investments in associated companies 7 458 579
Intangible assets 8 2,100 939
Other financial assets 9 1,183 72
Non-current assets 18,013 8,365
Inventories 10 24,746 16,465
Trade accounts receivable 11 28,864 26,978
Other accounts receivable 12 7,843 7,738
Cash & cash equivalents 13 11,173 16,541
Current assets 72,626 67,722
Total assets 90,639 76,087
LIABILITIES AND SHAREHOLDERS’ EQUITY
Share capital 14 3,560 3,350
Additional paid-in capital ( share premium) 21,317 13,898
Accumulated deficits / retained earnings – 7,716 16,749
Shareholders’ equity 17,161 33,997
Bank loans 15 1,767 0
Shareholder loans 15 7,000 5,000
Financial lease liabilities 15 6,200 0
Deferred tax liabilities 5 1,938 201
Advances received 1,599 1,746
Provisions 16 829 900
Non-current liabilities 19,333 7,847
Bank loans 15 3,463 0
Finance lease liabilities 15 124 0
Trade accounts payable 44,495 30,856
Current tax liabilities 825 1,058
Other current liabilities 17 5,238 2,329
Current liabilities 54,145 34,243
Total liabilities and shareholders’ equity 90,639 76,087
m o b i l e z o n e G r o u p C o n s o l i d a t e d b a l a n c e s h e e t
Annual report 2002 mobilezone holding ag 31
for the year ended December 31 2002 2001
( in CHF 000)
Loss / profit before income tax – 21,074 8,928 Interest income and expenses, net 1,757 411
Depreciation & amortization (incl. impairment) 30,995 4,173
Gain on sale of property, plant & equipment – 7 – 7
Changes in provisions, net – 293 – 2,700
Changes in allowances, net 638 – 1,338
Other (income) expenses 41 – 201
12,057 9,266 Changes in
trade accounts receivable – 2,228 – 7,617
other accounts receivable 366 5,643
inventories – 4,006 9,556
trade accounts payable 5,247 4,179
other current liabilities 669 – 7,092
Income taxes paid – 1,943 – 2,115
Net cash provided by operating activities 10,162 11,820
Acquisitions of
property, plant & equipment – 4,131 – 2,487
investments in associated companies 0 – 579
intangible assets – 1,897 – 157
other financial assets – 1,111 0
Proceeds from disposals of
property, plant & equipment 39 293
investments in associated companies 80 0
intangible assets 38 0
other financial assets 0 51
Cash flow relating to acquisitions of subsidiaries, net 1 – 10,273 4,007
Interest received 40 81
Net cash (used in / ) provided by investing activities – 17,215 1,209
Repayment of bank loans – 6,206 – 6,074
Change in other interest-bearing liabilities 1,885 – 1,000
Interest paid – 1,317 – 400
Issuance of new shares 7,629 6,250
Dividends paid 0 – 2,850
Net cash provided by ( /used in) financing activities 1,991 – 4,074
Effect of exchange rate fluctuations on cash and cash equivalents – 306 0
Net increase in cash & cash equivalents – 5,368 8,955 Cash & cash equivalents at January 1 16,541 7,586
Cash & cash equivalents at December 31 11,173 16,541
1 Details on assets and liabilities acquired in 2002 are disclosed in the notes under “Changes in the
scope of consolidation” on page 36.
m o b i l e z o n e G r o u p C o n s o l i d a t e d c a s h f l o w s t a t e m e n t
32 Annual report 2002 mobilezone holding ag
Movements of shareholders’ equity
( in CHF 000) Share Additional Accumulated Translation Total capital paid-in capital deficits / retained adjustments
earnings
31/12/2000 2,850 0 13,659 0 16,509
Capital increase from TEGE merger 315 7,933 8,248
Capital increase from authorized capital 185 5,965 6,150
Dividend – 2,850 – 2,850
Net profit 5,940 5,940
31/12/2001 3,350 13,898 16,749 0 33,997
Capital increase from authorized capital 210 7,419 7,629
Net loss – 24,415 – 24,415
Translation adjustments – 50 – 50
31/12/2002 3,560 21,317 – 7,666 – 50 17,161
m o b i l e z o n e G r o u p C o n s o l i d a t e d s t a t e m e n t o f c h a n g e s i n e q u i t y
The line item “Accumulated deficits / retained earnings” includes legally restricted reserves in the
amount of CHF 2,213,000 (2001: CHF 750,000 ) which are not available for distribution. Such legal
reserves are established based on the legal requirements of the Swiss Code of Obligations.
The capital increase from the merger with TEGE SA is composed of the assumed net assets of
TEGE SA of CHF 8,148,000 ( including goodwill of CHF 1,853,000), and a payment of CHF 100,000
for the transfer of globalzone ag.
As of December 17, 2001, the share capital was increased by 1,850,337 bearer shares issued from
the authorized capital at CHF 3.65 per share.
As of April 12, 2002, the share capital was increased by 2,100,000 bearer shares issued from the
authorized capital at CHF 4.05 per share. These shares were placed by an investment bank.
The related transaction costs of CHF 876,000 (prior year: CHF 604,000 ) were deducted from
additional paid-in capital.
Additional information on the share capital and shareholder structure is given in Note 14.
Annual report 2002 mobilezone holding ag 33
m o b i l e z o n e G r o u p
34 Annual report 2002 mobilezone holding ag
Consolidated income statement
( in CHF 000) mobilezone Group
2002 2001
Revenues 348,680 239,596
Sales deductions including VAT – 28,878 – 15,146
Net sales 1 319,802 224,450
Other operating income 1,555 0
Cost of materials and merchandise – 254,423 – 180,821
Personnel costs – 36,464 – 19,441
Other operating costs – 18,823 – 10,676
Operating profit before depreciation & amortization (EBITDA) 11,647 13,512
Depreciation of property, plant and equipment – 3,150 – 1,998
Amortization of intangible assets – 718 – 322
Impairment of intangible assets – 27,127 – 1,853
Operating profit (EBIT) – 19,348 9,339
Consolidated balance sheet
( in CHF 000) mobilezone Group
2002 2001
Non-current assets 18,013 8,365
Current assets 72,626 67,722
Total assets 90,639 76,087
Liabilities 73,478 42,090
Net assets 17,161 33,997
Investments in non-current assets 7,139 3,223
The segments operations are limited to their respective markets.
The Group does not identify any business segments as secondary segments, because a reasonable
allocation of assets and investments to the mobile and kiosk divisions is not possible.
S e g m e n t i n f o r m a t i o n
Annual report 2002 mobilezone holding ag 35
mobilezone Switzerland mobilezone Germany Group management and Eliminations Management services
2002 2001 2002 2001 2002 2001 2002 2001
249,929 239,596 98,751 0 0
– 16,831 – 15,146 – 12,047 0 0
233,098 224,450 86,704 0 0
931 0 770 215 – 361
– 182,438 – 180,821 – 71,985 0 0
– 23,773 – 19,441 – 12,485 – 206 0
– 10,610 – 10,676 – 7,350 – 1,224 361
17,208 13,512 – 4,346 – 1,215 0
– 2,352 – 1,998 – 798 0 0
– 679 – 322 – 39 0 0
0 – 1,853 – 27,127 0 0
14,177 9,339 – 32,310 – 1,215 0
mobilezone Switzerland mobilezone Germany Group management and Eliminations Management services
2002 2001 2002 2001 2002 2001 2002 2001
8,241 8,365 8,214 11,654 – 10,096
60,899 67,722 14,419 2,312 – 5,004
69,140 76,087 22,633 13,966 – 15,100
44,984 42,090 31,589 2 12,005 – 15,100
24,156 33,997 – 8,956 1,961 0
3,514 3,223 2,525 1,100 0
1 There are no sales with other segments in the year under review.2 Including loans from mobilezone holding ag of CHF 10,096,000.
General mobilezone Group is a retailer. Business activity was started in May 1999. By now there are 90
mobilezone telecom shops in Switzerland. globalzone ag, a so-called “switchless” retailer, offers its
customers fixed line telecommunication; globalzone ag is a retailer of T-Systems, a subsidiary of
German Telecom AG. Jamba! AG (Schweiz ), a joint venture with the German Jamba! AG, formed in
October 2001, operates an internet portal for mobile phones. As from January 1, 2002, mobilezone
operates under the brand mobilezone ( telecom shops ), Boenicke and T. H. Kleen ( tobacco, magazines,
newspapers and gifts ) in 112 locations in Germany. The parent company is mobilezone holding ag,
Riedthofstrasse 124, 8105 Regensdorf /Switzerland. It is listed at the Swiss Exchange (SWX).
The consolidated financial statements have been prepared on a historical cost basis in accordance
with the International Financial Reporting Standards ( IFRS ) and are in accordance with Swiss law.
The reporting currency is Swiss francs (CHF ). The significant accounting policies are set out below.
Changes in the scope of consolidation The scope of consolidation is set out in note 4 to the financial statements of mobilezone holding ag
on page 60. In the year under review the scope of consolidation was extended by the acquisition of
the Otto Boenicke Group, which included the following companies :
Otto Boenicke GmbH & Co., D-Holzkirchen 01/01/2002
Kleen Vertriebs GmbH, D-Holzkirchen 01/07/2002
Tebbe Harms Kleen GmbH & Co., D-Holzkirchen 01/01/2002
Otto Boenicke Vertriebsgesellschaft m.b.H., D-Holzkirchen 01/01/2002
The contributions of these companies to the Group’s business are presented under “Segment infor-
mation”. The purchase price was CHF 14.2 million, which resulted in goodwill of CHF 27.1 million.
The goodwill represents the fair value of the 110 locations of the stores and the corresponding lease
agreements ( “key money” ). Due to the deteriorating market environment for retailers in Germany, the
value of the goodwill was critically reviewed. As generating positive results at these locations in the
medium term is doubtful, an impairment test was performed and the total carrying amount of goodwill
was written off through the income statement in the year under review.
m o b i l e z o n e G r o u p
36 Annual report 2002 mobilezone holding ag
N o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s
Annual report 2002 mobilezone holding ag 37
As of 1/1/2002 the other assets and liabilities acquired as part of the Boenicke Group, measured at
fair values according to IAS 22, consisted of :
Cash & cash equivalents CHF 3.9 mn
Inventories and other current assets CHF 5.2 mn
Property ( leased ) CHF 5.1 mn
Other non-current assets CHF 1.6 mn
Bank loans CHF – 11.6 mn
Finance lease liabilities CHF – 6.6 mn
Trade accounts payable CHF – 8.5 mn
Other current liabilities CHF – 2.0 mn
Total net assets acquired CHF – 12.9 mn
+ Goodwill CHF 27.1 mn
= Purchase price CHF 14.2 mn
. /. Cash & cash equivalents acquired CHF – 3.9 mn
Net cash used in acquisition activities CHF 10.3 mn
38 Annual report 2002 mobilezone holding ag
m o b i l e z o n e G r o u p
Significant accounting policies
Principles of consolidation The consolidated financial statements of mobilezone include the financial statements of mobilezone
holding ag and all the subsidiaries it controls directly or indirectly by majority of voting rights.
Investments and joint ventures, in which mobilezone exercises a significant influence but no control,
are recorded according to the equity method. For this purpose, the fair value of the share of net assets
as of the date of acquisition is determined and recognized under investments in associated companies.
Subsequently, this value is adjusted for the share of mobilezone in the profit or loss incurred.
Accounts payable to, accounts receivable from, and income and expenses between the companies
included in the scope of consolidation are eliminated. Intercompany profits within the Group are also
eliminated upon consolidation.
Significant holdings and transactions with investees and joint ventures recognized based on the equity
method are stated separately as positions with associated companies.
Foreign currency translation The consolidated financial statements have been prepared in Swiss francs. Monetary assets and liabili-
ties denominated in foreign currencies are translated using the exchange rates prevailing at the
balance sheet date. Transactions in foreign currencies are recorded using exchange rates prevailing
at the time of the transaction. Gains or losses arising from the settlement of these transactions are
included in the current year’s income.
Assets and liabilities of subsidiaries which do not report in Swiss francs are translated into Swiss francs
for consolidation purposes at the exchange rate in effect on the balance sheet date. The income state-
ment, cash flow statement and other movements are translated at the average rate of the reporting
period. Currency translation differences resulting from the translation of the financial statements of
subsidiaries are recognized directly in equity and presented separately as cumulative translation
differences.
Financial risk management and derivative financial instruments Approximately 90 % of mobilezone’s purchases for Switzerland are paid in Euro. Due to the short-term
nature of payments and the high inventory turnover, the Group does not hedge any foreign currency
risks on purchases. Accordingly, the Group did not hold or issue any derivative financial instruments
during the year under review.
N o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s
Annual report 2002 mobilezone holding ag 39
Property, plant & equipment Property, plant and equipment are stated at historical cost less accumulated depreciation and impair-
ment losses. Property, plant and equipment acquired by way of finance leases are stated at an amount
equal to the lower of their fair value and the present value of the minimum lease payments. The corre-
sponding finance lease liabilities are presented as a liability on the balance sheet. Depreciation is
charged to the income statement on a straight-line basis over the estimated useful lives of items of
property, plant and equipment. The estimated useful lives are as follows :
Administration building 22 years
Office equipment and furniture 3 to 5 years
Shop equipment 5 to 8 years
Vehicles 3 to 5 years
Intangible assets Acquired rights such as contracts with clients, lessors, suppliers and similar rights that are generating
a positive cash flow are capitalized and amortized over 5 years at maximum. Goodwill arising on an
acquisition, determined as the difference between the purchase price and the fair value of the net
assets acquired, is capitalized and amortized on a straight-line basis over its estimated useful life,
but limited to 20 years at maximum.
Impairment The carrying amounts of the Group’s non-current assets, including goodwill and other intangible
assets, are reviewed at each balance sheet date to determine whether there is any indication of impair-
ment. If any such indication exists, the asset’s recoverable amount is estimated. An impairment loss is
recognized whenever the carrying amount of an asset exceeds its recoverable amount. Impairment
losses are recognized in the income statement.
Inventories Inventories are stated at the lower of cost and net realizable value. The cost of inventories is calculated
using the weighted average method. Goods with long storage periods and obsolete stocks are written
down. Net realizable value is the estimated selling price in the ordinary course of business less selling
expenses. The proceeds from the sale of inventories normally comprise both the price for the mobile
communication product and the commission due from the telecommunication provider for the intro-
duction of a new subscriber. The price of the mobile communication product is determined based on
whether the product is sold on a stand-alone basis or in conjunction with a subscription. Net realizable
value therefore takes into account both components. In addition, the Company benefits from price
protection arrangements with certain suppliers that are also considered in determining the need for
a write-off.
40 Annual report 2002 mobilezone holding ag
m o b i l e z o n e G r o u p
Trade and other accounts receivable Trade and other accounts receivable are stated at their nominal amounts less any valuation adjust-
ments for credit risks.
Cash & cash equivalents Cash & cash equivalents are stated at nominal value. They include cash on hand, postal and bank
accounts, and money market deposits with original due dates of 3 months or less.
Shareholder loans Shareholder loans bear interest at market rates. They are stated at nominal amounts that correspond
to their amortized cost.
Provisions A provision is recognized on the balance sheet when the Group has a legal or constructive obligation
as a result of a past event, and it is probable that an outflow of economic benefits will be required to
settle the obligation. The provisions are determined based on the best possible estimate. If the effect
is material, provisions are determined by discounting the expected future cash flow at the balance
sheet date at a rate that reflects current market assessment of the time value of money and the risks
specific to the liability.
Contingencies are disclosed if the future obligation is possible but the amount cannot be reliably
estimated.
Leasing Leasing contracts are recognized when the significant risks and rewards of ownership are assumed by
the Group. Leasing payments are divided, according to the annuity method, into interest and principal
payments. Leased assets are depreciated over the lower of lease term and the estimated useful life.
Payments made under operating leases are recognized in the income statement on a straight-line basis
over the term of the lease. Lease incentives are recognized in the income statement as an integral part
of the total lease expense. Contingent leases depending on sales are accrued on an estimated basis.
Retirement benefits A retirement benefit plan does not exist for the employees in Germany. The mobilezone Group’s Swiss
companies have established a retirement benefit plan for all its employees, which is maintained
by “Winterthur-Columna Stiftung für berufliche Vorsorge”. The plan is funded by employees’ and
employers’ contributions and has certain characteristics of a defined benefit plan. The financial im-
N o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s
pact of this plan on the consolidated financial statements is determined based on the projected unit
credit method. A difference between assets and liabilities resulting from the application of IAS19 is in
principle recognized as asset or liability in the consolidated balance sheet. Any pension surplus is only
recognized as an asset if the asset embodies future economic benefits that are actually available to the
Group in the form of refunds or reductions in future contributions. Actuarial gains and losses arising
from the periodical reassessments are recognized to the extent that they decrease or increase a
pension deficit, if and to the extent that they exceed 10 % of the higher of the projected benefit obli-
gation and the fair value of plan assets. The amount exceeding this “corridor” is amortized over the
expected average remaining working lives of the employees participating in the plan.
Revenue The net sales include all revenue from the sale of goods and services, less rebates, discounts, VAT and
write-downs of trade accounts receivable. Revenue from sale of goods is recognized in the income
statement when the significant risks and rewards of ownership have been transferred to the buyer.
The recurring airtime profit-sharing commissions are normally based on the subscribers’ monthly
payments of phone bills to the providers. They are accrued and recognized in the income statement
based on the respective revenues generated and communicated by the providers for a specific period.
Income tax Current tax is determined on the taxable income for the year, and recognized in the income statement.
Deferred tax is recognized using the balance sheet liability method, on any temporary differences
between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts
used for tax purposes. Deferred tax is calculated using tax rates enacted or substantially enacted at
the balance sheet date and based on the expected manner of realization and settlement. A deferred
tax asset is recognized only to the extent that it is probable that future taxable profits will be available
against which the unused tax losses and credits can be utilized.
Annual report 2002 mobilezone holding ag 41
m o b i l e z o n e G r o u p
42 Annual report 2002 mobilezone holding ag
Notes to the consolidated income statement
Net sales 2002 2001
( in CHF 000)
Mobile communication products and related insurance services 116,434 116,801
One-time commissions from providers 120,713 98,271
Recurring “airtime” profit-sharing commissions 9,131 6,918
Fixed line telecommunication revenues 8,410 2,460
Kiosk assortment (mobilezone Germany ) 65,114 0
Total net sales 319,802 224,450
Personnel costs 2002 2001
( in CHF 000)
Wages and salaries 31,072 17,067
Social security costs 3,637 1,179
Pension costs 974 758
Other employee benefit costs 781 437
Total personnel costs 36,464 19,441
Number of employees at balance sheet date ( full-time employees ) 590 262
Remuneration of directors The total remuneration to non-executive members of the Board of Directors amounted to CHF 70,000
in the year under review. The total remuneration to the executive members of the Board of Directors
and to the members of the executive management amounted to CHF 1,596,000. In the previous
year the total remuneration to the Board of Directors and executive management amounted to
CHF 1,159,000. No termination benefits were paid to any leaving members of the Board of Directors
or executive management.
Options A share option program was established for the members of the Board of Directors, the executive
and upper management. As of December 31, 2002, the executive member of the Board of Directors,
the members of the executive management and related persons kept the following options :
Grant year 2002 2001
Number 500,000 850,000
Expiry date 15/04/2005 29/11/2004
Exercise ratio 1:1 1:1
Exercise price ( in CHF ) 1.275 3.650
1
2
N o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s
Annual report 2002 mobilezone holding ag 43
The non-executive members of the Board of Directors and the related persons owned the following
options as of December 31, 2002:
Grant year 2002 2001
Number 240,000 240,000
Expiry date 15/04/2005 29/11/2004
Exercise ratio 1:1 1:1
Exercise price ( in CHF ) 1.275 3.650
The other members of the management received 249,000 (2002) and 630,000 (2001) options with
the same terms, respectively. The allocated options vest over 1 to 3 years from grant date. As of today,
no options from these programs were exercised. The issuance of the options, except for the social
security contribution, is not recognized in the consolidated financial statements.
Maximum remuneration The maximum remuneration to a member of the Board of Directors amounted to CHF 734,000 in the
year under review. This member also received options with a value of CHF 50,840.
Employee benefits The calculation of the Group’s obligation in respect of the defined benefit plan in Switzerland in accor-
dance with IAS 19 was performed as of December 31, 2002, and resulted in the following situation :
Components of pension costs 2002 2001
( in CHF 000)
Current service costs 981 784
Interest costs 174 125
Expected return on plan assets – 181 – 151
Total pension costs 974 758
Funded status 2002 2001
( in CHF 000)
Present value of defined benefit obligation – 4,801 – 4,343
Fair value of plan assets 4,821 4,533
Excess of assets over funded obligation 20 190
Unrecognized actuarial gain / losses 130 236
Unrecognized pension asset 150 426
Due to the fact that the Company does not have control over the pension fund’s assets, no pension
asset was recognized on the balance sheet.
44 Annual report 2002 mobilezone holding ag
m o b i l e z o n e G r o u p
3
Roll-forward of the unrecognized pension asset 2002 2001
( in CHF 000)
Pension asset as of January 1 426 344
Pension costs – 974 – 758
Contributions 698 840
Pension asset as of December 31 150 426
The following assumptions were applied 2002 2001
( in %)
Discount rate 4.0 4.0
Expected return on plan assets 4.0 4.5
Future salary increases 0 – 1.5 0 – 2.5
Future benefit increases 0 0
Fluctuation rate up to 21.6 up to 21.6
Average remaining service years 16.9 16.7
Number of insured employees at December 31 275 251
Other operating costs 2002 2001
( in CHF 000)
Operating lease costs 11,074 5,069
Marketing 14,925 13,982
General and administrative costs 10,022 6,543
less: contributions received from third parties – 17,198 – 14,918
Total other operating costs 18,823 10,676
Marketing costs are mostly, and operating lease costs to a lower extent borne by cost contributions and
location contributions of business partners.
4
5
Annual report 2002 mobilezone holding ag 45
N o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s
Other financial expenses 2002 2001
( in CHF 000)
Interest on bank loans 697 133
Other interest expenses 1,098 227
Bank commissions 222 132
Total other financial expenses 2,017 492
Income taxes 2002 2001
( in CHF 000)
Current income tax expense 2,830 3,375
Deferred income tax expense 511 – 387
Total income tax expense 3,341 2,988
Current income tax expense solely relates to the profit of the respective accounting period. Deferred
income tax expense solely relates to changes in temporary differences. Taxes on capital are included
in other operating costs.
Income tax expense can be analyzed as follows 2002 2001
( in CHF 000, or as indicated resp.)
Profit before income taxes – 21,074 8,928
Expected average applicable tax rate 27.5 % 26 %
Income tax expense at the expected average applicable rate – 5,795 2,321
Items that increase / reduce income tax expense :
Non-tax-deductible expenses 6,582 419
Effect of previously unrecognized tax losses utilized – 50 0
Unrecognized tax loss carry-forwards on current losses 2,614 52
Other items – 10 196
Effective income tax expense 3,341 2,988
The Group disposes of tax loss carry-forwards of CHF 14,976,000 (prior year : CHF 5,965,000 ).
No deferred tax assets were recognized in respect of such tax loss carry-forwards (prior year : recog-
nition of a deferred tax asset of CHF 1,226,000), because it is not probable that future taxable profit
will be available against which the Group can utilize the benefits therefrom. Tax losses expire in 2007
(CHF 3,855,000 ) and 2008 (CHF 642,000 ) respectively. The remaining tax losses do not expire.
4
5
m o b i l e z o n e G r o u p
46 Annual report 2002 mobilezone holding ag
Deferred tax assets and liabilities 2002 2001
( in CHF 000)
Deferred tax assets
Tax savings on loss carry-forwards 0 1,226
Total 0 1,226
Deferred tax liabilities
Other property, plant and equipment 74 0
Intangible assets 22 0
Inventories 1,423 1,427
Trade accounts receivable 370 0
Provisions 49 0
Total 1,938 1,427
Total deferred tax assets and liabilities, net – 1,938 – 201
6
N o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s
Annual report 2002 mobilezone holding ag 47
Notes to the consolidated balance sheet
Property, plant & equipment
( in CHF 000) Land Shop Other property, Total and buildings* equipment plant and equipment
Cost :
At 31/12/2000 0 6,674 1,682 8,356
Additions 0 1,841 646 2,487
Disposals 0 – 728 – 165 – 893
At 31/12/2001 0 7,787 2,163 9,950
Additions 0 3,398 733 4,131
Disposals 0 – 387 – 84 – 471
Changes in scope of consolidation 6,986 5,304 1,211 13,501
Translation adjustment – 123 – 109 – 24 – 256
At 31/12/2002 6,863 15,993 3,999 26,855
Accumulated depreciation :
At 31/12/2000 0 1,346 438 1,784
Additions 0 1,425 573 1,998
Disposals 0 – 539 – 68 – 607
At 31/12/2001 0 2,232 943 3,175
Additions 120 2,287 743 3,150
Disposals 0 – 385 – 56 – 441
Changes in scope of consolidation 1,934 3,835 1,054 6,823
Translation adjustment – 34 – 70 – 20 – 124
At 31/12/2002 2,020 7,899 2,664 12,583
Carrying amount :
At 31/12/2001 0 5,555 1,220 6,775
At 31/12/2002 4,843 8,094 1,335 14,272
2002 2001
Property, plant and equipment pledged as collateral 1,320 0
Fire insurance value of property, plant & equipment with inventories 41,112 27,500
Assets held under finance leases ( * ) 4,843 0
48 Annual report 2002 mobilezone holding ag
m o b i l e z o n e G r o u p
7
8
Investments in associated companies
( in CHF 000) Share of equity in associated companies
At 31/12/2000 0
Additions 579
Share of results 0
At 31/12/2001 579
Additions 0
Disposals – 80
Share of results – 41
At 31/12/2002 458
Intangible assets
( in CHF 000) from acquisition of from mergers Other Total shop locations and acquisitions
Cost :
At 31/12/2000 1,584 0 0 1,584
Additions 157 1,835 0 2,010
Disposals 0 0 0 0
At 31/12/2001 1,741 1,853 0 3,594
Additions 368 0 1,529 1,897
Disposals 0 0 – 62 – 62
Changes in scope of consolidation 0 27,127 43 27,170
At 31/12/2002 2,109 28,980 1,510 32,599
Accumulated amortization :
At 31/12/2000 480 0 0 480
Additions 322 1,853 0 2,175
Disposals 0 0 0 0
At 31/12/2001 802 1,853 0 2,655
Additions 499 27,127 219 27,845
Disposals 0 0 – 22 – 22
Changes in scope of consolidation 0 0 21 21
At 31/12/2002 1,301 28,980 218 30,499
Carrying amount :
At 31/12/2001 939 0 0 939
At 31/12/2002 808 0 1,292 2,100
The addition from mergers and acquisitions in 2001 related to goodwill of the merger with TEGE as of
30/6/2001 that was entirely consumed in 2001, as it related to the preparation of the Company for the
capital market, completed in the 2nd quarter of 2001.
Annual report 2002 mobilezone holding ag 49
N o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s
9
10
11
The goodwill from the acquisition of the German Boenicke Group as of 1/1/2002 was entirely written
off in 2002 ( impairment of CHF 27,127,000), due to the deteriorating market environment for retailers
in Germany, which raised doubts regarding generation of positive results in the medium term. The Board
of Directors is considering different scenarios to improve the situation.
The additions to other intangible assets of CHF 1,529,000 in 2002 relate to the acquisition of the
client list in connection with business expansion of mobilezone ag and globalzone ag.
Other financial assets
( in CHF 000) Advance payments Rent deposits / Total for acquisitions loans
At 31/12/2000 0 123 123
Additions 0 0 0
Disposals 0 – 51 – 51
At 31/12/2001 0 72 72
Additions 1,100 11 1,111
Disposals 0 0 0
At 31/12/2002 1,100 83 1,183
The advance payments for acquisitions relate to the acquisition of Europea Trade AG and Premium
Time AG, that were acquired as of 1/1/2003 at the net assets value.
Inventories 2002 2001
( in CHF 000)
Inventories, gross 25,267 17,435
Valuation allowance – 521 – 970
Total inventories, net 24,746 16,465
Trade accounts receivable 2002 2001
( in CHF 000)
Accounts receivable from third parties 30,277 27,970
Accounts receivable from associated companies 58 0
Valuation allowance – 1,471 – 992
Total trade accounts receivable, net 28,864 26,978
50 Annual report 2002 mobilezone holding ag
m o b i l e z o n e G r o u p
12
13
14
Other accounts receivable 2002 2001
( in CHF 000)
Prepaid expenses and accrued income 5,728 6,549
Other accounts receivable from associated companies 0 208
Other accounts receivable 2,115 981
Total other accounts receivable 7,843 7,738
Cash & cash equivalents 2002 2001
( in CHF 000)
Cash on hand, at banks and on postal accounts 11,173 13,361
Fixed-term deposits 0 3,180
Total cash & cash equivalents 11,173 16,541
CHF 381,000 (2001: CHF 0 ) of cash and cash equivalents are subject to restrictions.
Share capital
Bearer shares CHF 0.01 CHF 0.10 CHF 20.00 par value par value par value
Issued and fully paid-in at 31/12/2000 142,500
Business combination with TEGE SA (reverse take-over) 6,000 31,649,063 – 142,500
Issued for cash from authorized capital 1,850,337
Issued and fully paid-in at 31/12/2001 6,000 33,499,400 0
Issued for cash from authorized capital 2,100,000
Issued and fully paid-in at 31/12/2002 6,000 35,599,400 0
The bearer shares with a par value of CHF 20 each were in the name of mobilezone ag. The bearer
shares with a par value of CHF 0.10 and a par value of CHF 0.01 are in the name of mobilezone
holding ag. The holders of all shares issued as of December 31, 2002, are entitled to dividends, and
to voting rights in proportion of their par value at the meetings of shareholders. As a result of the
business combination with TEGE, TEGE SA became the parent company instead of mobilezone ag,
and was renamed mobilezone holding ag.
Details on the conditional and authorized capital are included in the “Notes to the financial
statements” of mobilezone holding ag on page 61.
N o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s
Annual report 2002 mobilezone holding ag 51
Calculation of earnings per share 2002 2001
Net loss / profit for the year CHF – 24,415,000 5,940,000
Weighted average number of shares outstanding Earnings per share – basic Pieces 35,005,000 30,244,900
Net loss / profit for the year CHF – 0.70 0.20
Net loss / profit for the year CHF – 24,415,000 5,940,000
Weighted average number of diluted shares Earnings per share – diluted Pieces 35,005,000 30,295,600
Net loss / profit for the year CHF – 0.70 0.20
The potential ordinary shares resulting from the stock option plan disclosed in note 2 were not in-
cluded in the calculation of diluted earnings per share as the exercise price was “out of the money”.
Significant shareholders 31/12/2002 31/12/2001
% % According to the disclosure requirements of the Swiss Exchange,the following shareholders control each more than 5% of the voting rights :
Hans-Ulrich Lehmann / Lehmann Holding AG 35.47 37.69
Rudolf Baer / B + B Beratungs AG 14.74 15.67
Martin Lehmann 10.25 10.90
Asia Land Holding Corp., B.V. I. 5.62 5.97
STW Ltd., B.V. I. 5.62 5.97
Erich Traber 5.62 5.97
77.32 82.17
52 Annual report 2002 mobilezone holding ag
m o b i l e z o n e G r o u p
15 Interest-bearing liabilities 2002 2001
( in CHF 000)
Non-current :
Bank loans (due within 1– 5 years ) 1,767 0
Shareholder loans (due within 1– 5 years ) 7,000 5,000
Financial lease liabilities 6,200 0
Current :
Bank loans 3,463 0
Financial lease liabilities 124 0
Total interest-bearing liabilities 18,554 5,000
The bank loans are mainly due in Euro. The liabilities bear interest at an average rate of 6.7%
( 2001: 4.0 %). The high average interest rate is due to the acquisition of high interest-bearing bank
liabilities in relation to the Boenicke Group that were mostly repaid in the year under review. The
shareholder loan is due in Swiss francs. Part of the bank loans are subject to compliance with asso-
ciated covenants. At the balance sheet date, all covenants were complied with.
The financial lease liabilities, that are owed in Euro and bear interest at 6.3 %, are related to the build-
ing of Boenicke in Holzkirchen (Germany ). The future minimum lease payments are payable as follows :
present value nominal value
Less than one year 500 517
Between one and five years 1,714 2,069
More than five years 3,235 6,381
Total 5,449 8,967
N o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s
Annual report 2002 mobilezone holding ag 53
16
17
Provisions
( in CHF 000) Claw-backs TEGE Other Total
provisions
At 31/12/2000 1,700 0 200 1,900
Additions 0 2,620 0 2,620
Transfers 0 – 920 0 – 920
Used – 1,600 – 1,000 – 100 – 2,700
At 31/12/2001 100 700 100 900
Additions 0 0 117 117
Used – 100 – 210 0 – 310
Reversed 0 – 100 0 – 100
Changes in scope of consolidation 0 0 222 222
At 31/12/2002 0 390 439 829
The claw-back provision relates to early cancellation of subscriptions, which entitles providers
based on contractual agreements to reclaim the one-time commission paid to the Company at the
time of the subscription. All provider contracts executed since October, 2001, exclude the possibility
of claw-backs.
The TEGE provision relates to liquidation costs expected for 2003.
Other provisions relate to litigation and warranties.
Other current liabilities 2002 2001
( in CHF 000)
Accrued expenses and deferred income 1,733 1,673
Other current accounts payable 3,505 656
Total other current liabilities 5,238 2,329
m o b i l e z o n e G r o u p
18
19
20
Other disclosures
Operating leases 2002 2001
( in CHF 000)
Payments under non-cancelable operating leases
as of balance sheet date will become due as follows :
Less than one year 9,574 4,135
Between one and five years 21,994 7,970
More than five years 6,706 1,182
Total 38,274 13,287
The expected lease income from sublease arrangements amounts to CHF 1,483,000.
As of December 31, 2002, mobilezone operated 202 (prior year : 89 ) stores of which all were leased.
Leases typically have fixed terms between 3 and 5 years, with an option to renew for several years.
During the year under review, CHF 11,024,000 were recognized as an expense in the income state-
ment in respect of operating leases (2001: CHF 5,169,000 ). These expenses included contingent
rents ( related to sales ) in the amount of CHF 146,000 (2001: CHF 431,000 ). Index-linked lease
payments amounted to CHF 6,304,000 (2001: CHF 146,000 ).
Contingent liabilities and similar commitments, capital commitments and restrictions of ownership As of December 31, 2002 and 2001, no items had to be reported under this heading.
Financial instruments The Group is in its normal course of business exposed to market risks from changes in interest rates
and foreign currency exchange rates. The Group did not hold or issue any derivative financial instru-
ments during the years under review.
Credit risk The Group is also exposed to credit risks in the ordinary course of its operating activities. Due to in-
dustry practice – most sales are paid in cash – relatively few receivables are outstanding compared
to total sales. There is a concentration of credit risk due to the facts that the mobile telecommunica-
tion providers are limited to three enterprises and wholesale transactions are conducted via a single
trading company. Such risks are considered in the negotiation of relatively short payment terms.
54 Annual report 2002 mobilezone holding ag
Foreign currency risk The Group’s revenues are all denominated in local currency. Purchases of mobilezone Germany are
denominated in Euro. As far as the purchases of mobilezone Switzerland are concerned, 30 % are
paid in CHF, 60 % in Euro and 10 % in US dollars. The Group does not hedge any currency risk due to
the short payment terms and the high inventory turnover.
Interest rate risk Most of the Group’s interest-bearing liabilities are subject to fixed interest rates.
Fair value of financial assets and liabilities The fair values of the Group’s financial assets and liabilities approximate their carrying amounts.
Identity of related partiesThe following are considered related parties to the Group :
autronic ag, CH-Dübendorf
B+B Beratungs AG, CH-Watt
best-buy ag, CH-Regensdorf
Europea Trade AG, CH-Watt
Immoplaza AG, CH-Regensdorf
Premium Time AG, CH-Watt
Ruedi Baer, CH-Regensdorf, Chairman of the Board,
CEO and significant shareholder (direct or indirect ) of mobilezone holding ag, Europea Trade AG,
Premium Time AG, best-buy ag and Immoplaza AG
Hans-Ulrich Lehmann, CH-Glattfelden , member of the Board of Directors
and significant shareholder (direct or indirect ) of mobilezone holding ag, Lehmann Holding AG,
autronic ag, best-buy ag and Immoplaza AG
As per January 1, 2003, mobilezone holding ag acquired both Europea Trade AG and Premium Time AG.
The purchase price will be based on the net asset value of both entities as per audited financial state-
ments as per 31/12/2002 and is expected to amount to approximately CHF 2 million.
Business relationships with related parties autronic is a distributor of Nokia and Samsung mobile phones in Switzerland. mobilezone purchases
approximately 25 % of its mobile phones from autronic. autronic has no exclusive delivery rights
and the purchases are effected at arm’s length.
Mr. Ruedi Baer (CEO) is not on the Company’s payroll. His management services are billed to mobile-
zone by B+B Beratungs AG.
21
N o t e s t o t h e c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s
Annual report 2002 mobilezone holding ag 55
56 Annual report 2002 mobilezone holding ag
m o b i l e z o n e G r o u p
22
best-buy operates retail shops with an assortment of household and entertainment electronics in
Switzerland. mobilezone uses best-buy as additional sales channel for mobile phone assortments at
places where an own location would not be profitable. The terms are cost plus a handling fee. best-buy
uses head-office services of mobilezone at the location in Regensdorf at full cost rates and relieves
therefore the cost structure of mobilezone.
In order to benefit from better terms, mobilezone optimizes the purchases of mobile phones in the inter-
national market with purchases from and sales to Europea Trade. The conditions for these transactions
are in accordance with the market. Risks of accept refusals or credit risks do not exist.
In October 2001, the Swiss companies of mobilezone Group moved their offices to Immoplaza in
Regensdorf. mobilezone benefits from special lease conditions in this related party transaction.
Premium Time AG imports accessories for mobile devices on behalf of mobilezone Group. Transactions
are conducted at arm’s length.
Transactions and balances with related parties 2002 2001
( in CHF 000)
Purchases of mobile phones from autronic 44,500 31,984
Purchases of mobile phones and accessories from Europea Trade 10,124 684
Sales of mobile phones and accessories to Europea Trade 19,443 39,002
Purchases of accessories from Premium Time 1,983 2,234
Sales of mobile phones and accessories to best-buy 1,713 0
Income from head-office services provided to best-buy 430 0
Management services provided by B+B Beratungs AG 734 612
Operating lease expenses to Immoplaza 213 51
Liabilities due to autronic 2,640 0
Receivables due from best-buy 717 0
Liabilities due to Europea Trade 746 736
Post-balance sheet events There have been no events that would have a substantial impact to the consolidated financial
statements or would need to be disclosed hereafter, except for the acquisitions of Europea Trade AG
and Premium Time AG as per January 1, 2003, as described in Note 21.
The consolidated financial statements were approved by the Board of Directors on April 24, 2003.
m o b i l e z o n e G r o u p R e p o r t o f t h e G r o u p a u d i t o r s
Annual report 2002 mobilezone holding ag 57
Report of the Group auditors to the General Meeting of
mobilezone holding ag, Regensdorf
As Group auditors, we have audited the consolidated financial statements (balance sheet,
income statement, statement of changes in equity, cash flow statement and notes as presented
on pages 30 to 56 ) of mobilezone holding ag for the year ended December 31, 2002.
These consolidated financial statements are the responsibility of the Board of Directors.
Our responsibility is to express an opinion on these consolidated financial statements based
on our audit. We confirm that we meet the legal requirements concerning professional
qualification and independence.
Our audit was conducted in accordance with auditing standards promulgated by the Swiss
profession and with the International Standards on Auditing ( ISA ), which require that an audit
be planned and performed to obtain reasonable assurance about whether the consolidated
financial statements are free from material misstatement. We have examined on a test basis
evidence supporting the amounts and disclosures in the consolidated financial statements.
We have also assessed the accounting principles used, significant estimates made, and
the overall consolidated financial statement presentation. We believe that our audit provides
a reasonable basis for our opinion.
In our opinion, the consolidated financial statements give a true and fair view of the financial
position, the results of operations and the cash flows in accordance with the International
Financial Reporting Standards ( IFRS ) and comply with Swiss law.
We recommend that the consolidated financial statements submitted to you be approved.
KPMG Fides Peat
Fredy Luthiger Markus Ackermann Swiss-Certified Accountant Swiss-Certified Accountant Auditor in Charge
Zurich, April 25, 2003
58 Annual report 2002 mobilezone holding ag
January 1 to December 31 2002 2001
( in CHF 000) Notes
Income from investments 1 13,011 0
Financial income 269 188
Gain on the sale of non-current assets 0 5
Releases of provisions 100 8,270
Other income 210 7
Total income 13,590 8,470
Administrative expenses 998 2,303
Financial expenses 733 112
Losses from investments 2 34,431 4,583
Depreciation of fixed assets 0 10
Total expenses 36,162 7,008
Net loss / profit for the year – 22,572 1,462
m o b i l e z o n e h o l d i n g a g I n c o m e s t a t e m e n t
Annual report 2002 mobilezone holding ag 59
m o b i l e z o n e h o l d i n g a g B a l a n c e s h e e t
as of December 31 2002 2001
( in CHF 000) Notes
ASSETS
Cash and cash equivalents 132 11,320
Accounts receivable from
Group companies 1,856 538
Third parties 46 242
Prepaid expenses and accrued income 272 2,045
Current assets 2,306 14,145
Advance payment for acquisitions 1,100 0
Investments 4 29,099 29,179
Non-current assets 30,199 29,179
Total assets 32,505 43,324
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Third parties 293 478
Group companies 3,147 1,324
Accrued expenses and deferred income 258 155
Current liabilities 3,698 1,957
Shareholder loans 7,000 5,000
Non-current liabilities 7,000 5,000
Provisions 490 890
Share capital 3,560 3,350
General reserves 38,544 30,342
Unrestricted reserves 362 362
Available earnings
Available earnings brought forward 1,423 – 39
Net loss / profit for the year – 22,572 1,462
Shareholders’ equity 21,317 35,477
Total liabilities and shareholders’ equity 32,505 43,324
60 Annual report 2002 mobilezone holding ag
There are no further facts than disclosed hereafter that would require disclosure in accordance with
Art. 663b of the Swiss Code of Obligations.
Income from investments This line item includes dividend and interest income relating to investments in subsidiaries.
Losses from investments This line item mainly includes the full allowance, recognized in the year under review, for the invest-
ments and receivables from the German subsidiaries. In the prior year the losses related to the full
write-off of investment in and the loans due from the companies of the former TEGE group.
Contingent liabilities 31/12/2002 31/12/2001
( in CHF 000)
Subordination letters issued in favor of subsidiaries 942 639
Additional guarantees for subsidiaries 3,149 137
Scope of consolidation and significant investments in subsidiaries and affiliates
investment held paid-in capital consolidation ( %) (million )
Switzerland
mobilezone ag, CH-Regensdorf 100.0 CHF 2.85 C 1
globalzone ag, CH-Regensdorf 100.0 CHF 0.10 C 1
Jamba! AG (Schweiz ), CH-Regensdorf 49.9 CHF 1.00 E 1
Germany
Otto Boenicke GmbH & Co. KG, D-Holzkirchen 100.0 EUR 6.27 C 1
Tebbe Harms Kleen GmbH & Co. KG, D-Holzkirchen 100.0 EUR 0.28 C
Kleen Vertriebs GmbH & Co. KG, D-Holzkirchen 100.0 EUR 0.18 C 1
Otto Boenicke Vertriebsgesellschaft m. b. H.,
D-Holzkirchen 100.0 EUR 0.03 C 1
Group management / management services
mobilezone international ag, CH-Regensdorf 100.0 CHF 0.20 C 1
C = Fully consolidated E = Recorded in the consolidated financial statements according to the equity method 1 Directly owned subsidiary of mobilezone holding ag
1
2
3
4
m o b i l e z o n e h o l d i n g a g
Annual report 2002 mobilezone holding ag 61
5
In addition, there are two investments in foreign subsidiaries of the former TEGE SA, which are in
liquidation or inactive, and which were fully provided for during both years under review.
Authorized and conditional share capital As per December 31, 2002, an authorized share capital of CHF 1,104,966.30 existed (prior year:
CHF 1,314,966.30 ). In addition, a conditional share capital amounting to CHF 1,700,000 (prior year:
CHF 1,500,000) is earmarked for the exercise of employee stock options (up to CHF 500,000), for
the exercise of conversion and option rights relating to any debenture loans (up to CHF 1,000,000)
and for the exercise of other options (up to CHF 200,000). As of the balance sheet date, options for
the issuance of total 2,773,000 bearer shares were outstanding.
N o t e s t o t h e f i n a n c i a l s t a t e m e n t s
62 Annual report 2002 mobilezone holding ag
m o b i l e z o n e h o l d i n g a g R e p o r t o f t h e S t a t u t o r y a u d i t o r s
Report of the Statutory auditors to the General Meeting of
mobilezone holding ag, Regensdorf
As Statutory auditors, we have audited the accounting records and the financial statements
(balance sheet, income statement and notes as presented on pages 58 to 61) of mobilezone
holding ag for the year ended December 31, 2002.
These financial statements are the responsibility of the Board of Directors. Our responsibility
is to express an opinion on these financial statements based on our audit. We confirm
that we meet the legal requirements concerning professional qualification and independence.
Our audit was conducted in accordance with auditing standards promulgated by the Swiss
profession, which require that an audit be planned and performed to obtain reasonable assurance
about whether the financial statements are free from material misstatement. We have examined
on a test basis evidence supporting the amounts and disclosures in the financial statements.
We have also assessed the accounting principles used, significant estimates made, and
the overall financial statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
In our opinion, the accounting records and financial statements comply with Swiss law and
the Company’s articles of incorporation.
We recommend that the financial statements submitted to you be approved.
KPMG Fides Peat
Fredy Luthiger Markus Ackermann Swiss-Certified Accountant Swiss-Certified Accountant Auditor in Charge
Zurich, April 25, 2003
m o b i l e z o n e h o l d i n g a g C o m p a n y a d d r e s s e s
Branches in Switzerland
Aarau Bahnhofstrasse 11
Arbon Zentrum Novaseta
Baden Badstrasse 7
Basel EPA-Claraplatz/Untere Rebgasse 17;
Gerbergasse 70; Shopping-Center St.-Jakob-Park,
St.-Jakob-Strasse 397
Bellinzona Via Nosetto 4
Bern EPA, Von-Werdt-Passage 3;
Waaghaus-Passage 8
Biel/Bienne CARREFOUR, Centre Boujean,
Zürichstrasse 24; LOEB, Nidaugasse 50;
Nidaugasse 60
Brig Center Brig, Rhonesandstrasse 11
Buchs SG Bahnhofstrasse 28
Bülach Marktgasse 21
Burgdorf Poststrasse 7
Chur EPA, Alexanderstrasse 8
Collombey Centre Commercial, Parc du Rhône
Crissier Centre Commercial
Davos Platz Promenade 73
Delémont Avenue de la Gare 42
Dietlikon CARREFOUR, Industriestrasse 28
Écublens Centre Commercial du Croset 1
Egerkingen EPA, Hausimollstrasse 8
Fribourg Boulevard de Pérolles 11;
Rue de Romont 6
Genève Place du Molard 3;
Rue de la Croix d’Or 4;
EPA Plainpalais, Rue de Carouge 12;
Place Chevelu/Rue Rousseau 2;
Eaux-Vives 2000;
Centre Commercial Planète Charmilles,
Promenade de l’Europe 11
Genève-Meyrin EPA, Centre Commercial
Grancia Centro Grancia
Heimberg CARREFOUR, Blümlisalpstrasse 61
Hinwil CARREFOUR, Wässeristrasse 38
Kreuzlingen EPA, Hauptstrasse 63
La Chaux-de-Fonds Avenue Léopold-Robert 33;
CARREFOUR, Boulevard des Éplatures 20
Langenthal Bärenplatz/Marktgasse 12–14
Lausanne Rue de Bourg 17;
Rue Mauborget 12
Locarno Piazzetta Franzoni 1/Via alla Ramogna
Luzern Kapellgasse 7; EPA, Rössligasse 18–20;
Pilatusstrasse 19
Lyss Hirschenplatz 1A
Marin-Épagnier Centre Commercial MANOR,
Avenue Champs-Montants
Martigny Centre Commercial Manoir
Mels Pizol Center, Grossfeldstrasse 63
Meyrin EPA, Centre Commercial
Morges Grand-Rue 10
Neuchâtel Rue du Seyon 5
Oftringen Perry-Center, Bernerstrasse
Olten EPA, Froburgstrasse 10
Rapperswil Obere Bahnhofstrasse 44
Regensdorf Einkaufszentrum Regensdorf ;
Riedthofstrasse 124, Headquarters
Rorschach Hauptstrasse 67
Schaffhausen Vordergasse 41
Schönbühl Shoppyland, Industriestrasse 20
Sierre-Noës Centre Commercial
Shops in Germany
(offering only selected products)
Aschaffenburg City-Galerie, Goldbacher Straße 2
Bentwisch EKZ Hansecenter Bentwisch,
Hansestraße 37
Berlin Mariendorfer Damm 68;
Schönhauser Allee-Arcaden, Wichertstraße 1
Berlin-Tegel Hallen am Borsigturm
Bielefeld EKZ Marktpassage, Bahnhofstraße 27a
Bochum Kortumstraße 46–48
Borken Goldstraße 12; Wilbecke 6
Bremen Hansa-Carré am Weserwehr, Pfalzburger
Straße 41; Werder-Carré, Steinsetzerstraße 11
Dallgow Döberitzer Weg 3, EKZ Havelpark Dallgow
Dresden Peschelstraße 35; Seidnitz-Center,
Enderstraße 57
Dresden-Prohlis Jacob-Winter-Platz 13
Düsseldorf Hbf-Passage, Konrad-Adenauer-Platz ;
Grafenberger Allee 411
Eiche bei Berlin Landsberger Chaussee,
EKZ Kaufpark
Eisenach-Hötzelsroda EKZ Hötzelsroda,
Neue Wiese 1
Erlangen Zentrum Neuer Markt
Frankfurt/Oder Spitzkrug-Multi-Center
Fulda Unterm heiligen Kreuz
Fürth Schwabacher Straße 16
Gera Gera-Arcaden, Heinrichstraße 30
Großpösna Pösna-Park, Seppverschtstraße 11
Halle EKZ Kaufland, Südstadtring 90
Heilbronn Wollhaus-Zentrum
Hennigsdorf Havelpassage 11
Herne City-Center, Bahnhofstraße 7
Herten Antoniusstraße 35
Jena Holzmarkt-Passage, Am Holzmarkt 1
Kempten Simpatica-Illerkauf, Bahnhofstraße 2
Leipzig Paunsdorf-Center, Paunsdorfer Allee
Leverkusen/Opladen Kölner Straße 33
Ludwigsburg Marstall-Center
Magdeburg Flora-Park; Neustadt-Kaufhaus,
Lübeckerstraße 104
Mönchengladbach Hindenburgstraße 165
München Flughafen Munich Airport Center,
Central area, level 03
Oberhausen Bero-Center, Concordiastraße 32
Plauen EKZ Plauen-Park, Jösnitzer Straße
Raisdorf Baltic-Center, Liebigstraße 5–7
Riesa EKZ Riesa-Park, Rostocker Straße 2–6
Rostock Hauptbahnhof (Main station)
Saarbrücken Saar-Galerie, Reichsstraße 1
Solingen Clemens-Galerien, Mühlenplatz 1
Stendal Breite Straße 20/21
Situation in March 2003
64 Annual report 2002 mobilezone holding ag
Signy Centre Commercial, Rue de Fléchères
Sion EPA, Rue de la Dent-Blanche 4
Solothurn Marktplatz 45
Spreitenbach Shopping-Center TIVOLI ;
Piazza Big Store
St. Gallen Hauptbahnhof Ladenpassage;
EPA, Neugasse 35
St. Margrethen Autoshop Rheinpark
Thun LOEB, Bälliz 39
Vernier CARREFOUR, Route de Meyrin 171
Vevey Rue du Simplon 35
Visp Bahnhofstrasse 2
Volketswil VOLKILAND, Industriestrasse 1
Weinfelden Zentrum-Passage
Wil Obere Bahnhofstrasse 21
Winterthur Einkaufszentrum Neuwiesen,
Strickerstrasse 3;
Marktgasse/Obere Kirchgasse 22;
Zentrum Stadttor/Bahnhofplatz 5
Yverdon Centre Commercial Bel-Air,
Rue du Lac 24
Zug Einkaufszentrum Metalli,
Baarerstrasse 16
Zürich Fotohobby, Stockerstrasse 38;
Fotohobby, Theaterstrasse 12;
The Docks, Langstrasse 192; Löwenstrasse 56;
Kasernenstrasse 11; Rennweg 58;
Bahnhof Stadelhofen; Stauffacherstrasse 35
Zürich-Oerlikon EPA-Oerlikon,
Wallisellenstrasse 1
Branches in Germany
(with complete range of products)
Aachen Adalbertstraße 53–55
Berlin Carl-Schurz-Straße 61
Bochum-Harpen EKZ Ruhrpark
Bottrop Hansa-Zentrum, Hansastraße 2
Dresden Kaditz-Mickten EKZ Elbe-Park,
Lommatzer Straße 98
Dresden Kaufpark Dresden, Dohnaer Straße 246
Dortmund-Körne EKZ Kaufland,
Körner Hellweg 142
Essen Kornmarkt 10
Frankfurt /Main Nordwestzentrum,
Niddacorso-Promenade
Frankfurt /Oder Hauptbahnhof, Bahnhofsvorplatz 11
Hagen Friedrich-Ebert-Platz 11
Halle an der Saale Bahnhofsplatz 1
Hürth EKZ HürthPark, Theresienhöhe
Krefeld Hochstraße 30
Marl Marler Stern 24
Mülheim Schlossstraße 5–9 A
München-Laim Agnes-Bernauer-Straße 73,
Corner Fürstenrieder Straße
Nürnberg Hauptbahnhof, Westhalle ;
Bahnhofsplatz 9
Recklinghausen Löhrhof-Center, Kaiserwall 37
Ulm Blautal-Center, Blaubeurer Straße 95
Weil am Rhein Rhein-Center, Hauptstraße 435
Wesel Viehtor 15
Wuppertal Schwanenstraße 52;
C-Carré, Neumarkt 5–11
Company addresses
mobilezone holding ag
Riedthofstrasse 124
CH-8105 Regensdorf
Phone ++ 41 (0 ) 43 388 77 11
Fax ++ 41 (0 ) 43 388 77 12
E-mail: [email protected]
www.mobilezoneholding.ch
Investor relations : Wolfgang Gross
Media relations : Ruedi Baer
mobilezone ag
Riedthofstrasse 124
CH-8105 Regensdorf
Phone ++ 41 (0 ) 43 388 77 11
Fax ++ 41 (0 ) 43 388 77 12
E-mail: [email protected]
www.mobilezone.ch
mobilezone Germany
c/o Otto Boenicke GmbH & Co.
Rudolf-Diesel-Ring 11
D-83607 Holzkirchen
Phone ++ 49 (8024) 993 813
Fax ++ 49 (8024) 993 815
E-mail : [email protected]
globalzone ag
Riedthofstrasse 124
CH-8105 Regensdorf
Phone ++ 41 (0 ) 43 388 77 11
Fax ++ 41 (0 ) 43 388 77 12 (mobilezone ag )
E-mail : [email protected]
www.globalzone.ch
Jamba! Schweiz AG
Riedthofstrasse 124
CH-8105 Regensdorf
Phone ++ 41 (0 ) 43 388 77 11
Fax ++ 41 (0 ) 43 388 77 12 (mobilezone ag )
E-mail : [email protected]
www.jamba.ch