International Finance and Accounting Handbook

22 • 24

Oerlikon

Core

Contraves

Oerlikon-Buhrle

Businesses

Defense

Bally

Immobilien

Pilatus

Zurich

Total

Number of employeesSwitzerland and Liechtenstein

1835

996

198

3029

EU countries

3458

3458

North America

1247

45

1292

Asia

560

560

Other areas

24

3

27

7124

1044

198

8366

Net assets

773

205

37

1015

—Assets

1509

319

41

1869

—Liabilities

736

114

4

854

Shareholder’s equity including

882

143

40

1065

minority interest

R&D

150

15

23

188

Operating result

111

–29

–30

15

12

1

80

Result before taxes

67

–27

–29

11

16

0

24

Income taxes

–13

0

2

–4

–3

0

–18

Net income/loss including minority

54

–27

–27

7

13

0

6

interest

Funds from/used byOperations

122

–36

–42

–7

12

4

53

Investing activities

138

80

–23

–66

–7

0

122

Financing activities

157

–82

–22

22

3

–3

75

Exhibit 22.5.

(Continued

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