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8 Financial liabilities due to banks
Autoneum maintains a long-term credit agreement with a banking syndicate in the amount of
CHF 150.0 million. The line of credit may partly be used as a guarantee facility. The final maturity
date is December 31, 2019. The interest rate is based on the LIBOR rate plus an applicable margin,
which is determined based on the ratio of net debt to EBITDA.
The credit agreement contains customary financial covenants, which include the ratio of net
debt to EBITDA and a minimal financial equity. Compliance with financial covenants was checked
quarterly and reported to the banking syndicate. In fiscal years 2015 and 2014, the minimum financial
requirements were met at all times.
9 Shareholders’ equity
Share capital
The share capital amounts to CHF 233618.15. It is divided into 4672 363 fully paid registered shares
with a par value of CHF 0.05 each.
Conditional share capital
For issuing bonds and/or granting shareholder options, the share capital can be increased by
a maximum of 700000 paid registered shares with a par value of CHF 0.05 up to a maximum value
of CHF 35000. Furthermore, for the issue of shares to employees and subsidiaries, the share capital
can be increased by a maximum of 250000 paid registered shares with a par value of CHF 0.05
up to a maximum value of CHF 12 500.
Legal capital reserves
These reserves include an amount of CHF 0.1 million (2014: CHF 21.0 million) whose distribution as
dividends is not subject to income taxes in Switzerland and can be effected free of Swiss with-
holding tax. The remaining part of the legal capital reserve does not benefit from the Swiss capital
contribution principle.
Treasury shares
The following transactions with treasury shares were performed during the financial year:
2015
in shares
2015
in CHF million
2014
in shares
2014
in CHF million
Treasury shares at January 1
53 180
6.1
36 062
2.3
Purchase of treasury shares
634
0.1
28 069
4.7
Sale of treasury shares
–12 891
–1.5
–6 846
–0.6
Transfer of treasury shares
–3 311
–0.4
–4 105
–0.4
Treasury shares at December 31
37 612
4.3
53 180
6.1
113
Autoneum Financial Report 2015
Financial statements of Autoneum Holding Ltd