Cockpit
Statements
Bonus Index Final Results 2009 - Switzerland
Bonus Index Method
Finanz & Wirtschaft article by Hermann Stern (German only)
SoZ about the Obermatt SMI/SPI Ranking 2009 (German only)
Cash interview with Hermann Stern (German only)
According to the Obermatt SMI/SPI Bonus Index, Zehnder Group performed best of all listed companies in 2009 compared to the previous year. The heating and ventilation specialist made the Top Rank with a Bonus Multiplier of 1.9. With the 2009 performance Zehnder Group has beaten 95% of its global peer companies. The management of Zehnder Group is the leader of a group of Swiss “crises managers” that not only successfully navigated their company through the deepest recession in decades but indeed took advantage of the difficult times, significantly outperforming their peer companies, gaining market share and thus are now best prepared for the current economic upswing. Other Bonus Index crises outperformers are for example Implenia, Sika and Schindler (all Bonus Multiplier of 1.5) or Adval Tech (1.3). Typically, these companies not only successfully adapted their costs to a significant lower sales level (some of these companies had to deal with a double digit sales drop). They also increased their sales efforts and invested in new products, a clearly offensive market strategy in spite of the harsh economic environment – or exactly because of it.
For many companies in the financial industry, 2009 was another “annus horribilis”. With the Obermatt concept of relative performance management which neutralizes external, non-company related industry factors, the best in class still could manage to achieve high positions in the Obermatt Bonus Index Ranking. Credit Suisse, outperforming 71% of its global peers, is the industry leader with a Bonus Multiplier of 1.4. Other outperformers in the finance sector are VP Bank of Liechtenstein (1.4), Cantonal banks of Geneva (1.4), of Basel-Stadt and Vaud (each 1.3), of Berne (1.2) as well as Liechtensteinische Landesbank (1.2), Bank Sarasin and Julius Bär (each 1.1). The executives of all these companies deserve an above average bonus package for their performance in the economic crises.
In 2009, almost one third of Swiss listed companies performed close to the median (1.0 which equals average industry performance) with a Bonus Multiplier between 0.9 and 1.1, including Kühne & Nagel und Swatch (each 1.1.), Syngenta (1.0), Zurich, Synthes, Baloise and Swiss Re (all 0.9). Compared to their international peers, SMI companies such as Holcim (0.8), Adecco and ABB (each 0.7), Actelion (0.6), Roche, Novartis and Nestlé (all 0.5) as well as Lonza (0.4) underperformed compared to their peer companies in 2009. Having a long way to get back on track, UBS achieved an Obermatt Bonus Multiplier of 0.3 in 2009, thus outperforming 14% of its peers.
Results sorted by Bonus Multiplier
see list sorted alphabetically
see Bonus Index method
| Company Name | Metric Type | Metric Value |
Operating Index |
Operating Alpha |
Operating Rank |
Bonus Multiplier |
Universe Name | Number of Peers |
| Zehnder | EBITDA | 2.7% | -1.7% | 4.4% | 95% | 1.9 | Heating/Sanitary Equipment | 65 |
| Implenia | EBITDA | 0.3% | -0.6% | 0.9% | 76% | 1.5 | Construction Service Large | 55 |
| Sika | EBIT | -0.6% | -9.4% | 8.8% | 75% | 1.5 | Construction Chemicals | 28 |
| Schindler | EBITDA | 0.7% | -0.9% | 1.6% | 73% | 1.5 | Elevator & Escalator | 21 |
| Kühne & Nagel - Rail & Road Logistics | EBITDA | 1.0% | -1.3% | 2.3% | 72% | 1.4 | Road & Rail | 145 |
| Orell Füssli - Book Retail | EBITDA | 1.9% | -0.1% | 2.0% | 71% | 1.4 | Book Retail | 34 |
| Credit Suisse | Operating Income | 7.3% | 0.7% | 6.5% | 71% | 1.4 | Very Large Diversified Global Banks | 39 |
| VP Bank | Operating Income | 2.8% | -1.1% | 3.9% | 70% | 1.4 | Wealth Management Europe | 39 |
| Zwahlen & Mayr | EBITDA | 0.0% | -2.2% | 2.2% | 70% | 1.4 | Steel Tubes/Metal Construction | 65 |
| Banque Cantonale De Genève | Operating Income | 2.5% | 1.1% | 1.4% | 70% | 1.4 | National/State Retail Banks Europe | 36 |
| Syngenta - Seeds | EBITDA | 4.8% | 2.0% | 2.8% | 69% | 1.4 | Agricultural Seeds | 74 |
| IVF Hartmann | EBITDA | 3.7% | 1.4% | 2.4% | 69% | 1.4 | Injury-care Products | 110 |
| Basler Kantonalbank | Operating Income | 2.4% | 1.1% | 1.3% | 67% | 1.3 | National/State Retail Banks Europe | 36 |
| Rätia Energie | EBITDA | 3.1% | 1.1% | 1.9% | 65% | 1.3 | Power Production Europe | 68 |
| Calida | EBITDA | 2.3% | 0.7% | 1.7% | 63% | 1.3 | Underwear | 59 |
| Adval Tech | EBITDA | -3.0% | -4.2% | 1.3% | 63% | 1.3 | Stamping/Forming Machinery | 76 |
| AFG - Windows & Doors | EBITDA | -0.1% | -1.2% | 1.0% | 63% | 1.3 | Windows & Doors | 33 |
| Banque Cantonale Vaudoise | Operating Income | 1.7% | 1.1% | 0.6% | 61% | 1.2 | National/State Retail Banks Europe | 36 |
| Berner Kantonalbank | Operating Income | 1.4% | 0.9% | 0.5% | 61% | 1.2 | National/State Retail Banks Europe | 36 |
| Mobimo | Operating Income | 2.6% | -0.2% | 2.8% | 60% | 1.2 | Real Estate | 115 |
| Acino | EBITDA | 7.9% | 4.3% | 3.6% | 59% | 1.2 | Generics / Pharmaceuticals | 78 |
| Intershop | Operating Income | 2.4% | -0.2% | 2.7% | 59% | 1.2 | Real Estate | 115 |
| Kühne & Nagel - Sea Freight | EBITDA | -0.8% | -2.3% | 1.4% | 59% | 1.2 | Water Transportation | 171 |
| Bucher - Municipal | EBITDA | -2.1% | -4.1% | 1.9% | 58% | 1.2 | Municipal Vehicle Manufacturers | 50 |
| Orell Füssli | Average | n/a | n/a | n/a | 58% | 1.2 | Division Weighted | n/a |
| Liechtensteinische Landesbank | Operating Income | 1.7% | 1.1% | 0.6% | 58% | 1.2 | National/State Retail Banks Europe | 36 |
| Swisslog | EBITDA | -1.1% | -3.4% | 2.3% | 57% | 1.1 | Logistic Solutions | 80 |
| Swatch - Watches & Jewelry | EBITDA | -0.5% | -1.0% | 0.5% | 57% | 1.1 | Watches Large | 23 |
| Swatch | Average | n/a | n/a | n/a | 57% | 1.1 | Division Weighted | n/a |
| Looser - Coating | EBITDA | 1.2% | 0.1% | 1.0% | 56% | 1.1 | Coating | 53 |
| Kühne & Nagel | Average | n/a | n/a | n/a | 56% | 1.1 | Division Weighted | n/a |
| VZ Holding | Operating Income | 4.0% | 2.4% | 1.6% | 56% | 1.1 | Investment Advice | 154 |
| Bank Sarasin | Operating Income | 0.2% | -1.1% | 1.3% | 56% | 1.1 | Wealth Management Europe | 39 |
| Julius Bär | Operating Income | 0.6% | 0.1% | 0.5% | 56% | 1.1 | Wealth Management Europe | 39 |
| Petroplus | EBITDA | 1.4% | 0.9% | 0.5% | 55% | 1.1 | Oil Refining and Marketing | 123 |
| Barry Callebaut - Industrial Customers | EBITDA | 0.5% | 0.2% | 0.3% | 55% | 1.1 | Chocolate & Confectionery | 79 |
| Graubundner Kantonalbank | Operating Income | 1.3% | 1.1% | 0.2% | 55% | 1.1 | National/State Retail Banks Europe | 36 |
| Swiss Prime Site | Operating Income | 1.3% | -0.2% | 1.5% | 54% | 1.1 | Real Estate | 115 |
| Rieter - Textile Systems | EBITDA | -2.7% | -3.1% | 0.4% | 53% | 1.1 | Textile Systems | 78 |
| Ypsomed | EBITDA | 0.4% | 0.4% | 0.0% | 53% | 1.1 | Injection Pen Manufacturers | 47 |
| Tecan | EBITDA | -0.7% | -1.0% | 0.4% | 52% | 1.0 | Lab Equipment Producers | 36 |
| Syngenta | Average | n/a | n/a | n/a | 52% | 1.0 | Division Weighted | n/a |
| Valiant | Operating Income | 0.0% | -1.1% | 1.0% | 52% | 1.0 | Wealth Management Europe | 39 |
| StarragHeckert | EBITDA | -6.0% | -6.4% | 0.3% | 52% | 1.0 | Machining Centers | 52 |
| Walliser Kantonalbank | Operating Income | 1.2% | 1.1% | 0.1% | 52% | 1.0 | National/State Retail Banks Europe | 36 |
| PSP Swiss Property | Operating Income | 0.1% | -0.2% | 0.3% | 51% | 1.0 | Real Estate | 115 |
| Barry Callebaut | Average | n/a | n/a | n/a | 51% | 1.0 | Division Weighted | n/a |
| Bucher - Kuhn | EBITDA | -4.3% | -4.4% | 0.1% | 51% | 1.0 | Farm Machinery | 53 |
| Kühne & Nagel - Contract Logistics | EBITDA | -0.3% | -0.5% | 0.1% | 51% | 1.0 | Logistics/Warehouse/Supply Chain | 280 |
| Panalpina | EBITDA | -1.8% | -1.8% | 0.0% | 51% | 1.0 | Transportation/Logistic Services | 160 |
| Looser | Average | n/a | n/a | n/a | 51% | 1.0 | Division Weighted | n/a |
| Gurit | EBITDA | 1.5% | 1.5% | 0.0% | 50% | 1.0 | Composite Materials | 46 |
| Also | EBITDA | 0.0% | 0.1% | 0.0% | 49% | 1.0 | IT Retail | 94 |
| Helvetia | Operating Income | 4.2% | 5.0% | -0.8% | 49% | 1.0 | Multi-line Insurer Europe | 53 |
| Allreal | Operating Income | -0.2% | -0.2% | 0.0% | 49% | 1.0 | Real Estate | 115 |
| Sulzer - Pumps | EBITDA | -1.4% | -1.4% | 0.0% | 49% | 1.0 | Pumps | 120 |
| Sulzer | Average | n/a | n/a | n/a | 49% | 1.0 | Division Weighted | n/a |
| Luzerner Kantonalbank | Operating Income | 1.0% | 1.1% | -0.1% | 48% | 1.0 | National/State Retail Banks Europe | 36 |
| Bell | EBITDA | 2.4% | 2.7% | -0.3% | 48% | 1.0 | Meat Processing | 85 |
| Goldbach Media | EBITDA | -0.3% | 0.8% | -1.1% | 48% | 1.0 | Electronic Marketing | 34 |
| Holcim - Other Construction Material and Services | EBITDA | -1.2% | -0.9% | -0.3% | 47% | 0.9 | Concrete & Asphalt Producers | 120 |
| Syngenta - Crop Protection | EBITDA | -2.0% | -1.4% | -0.5% | 47% | 0.9 | Agricultural Crop Protection | 94 |
| EMS-Chemie | EBITDA | 0.1% | 0.9% | -0.7% | 47% | 0.9 | Polymers and Chemicals | 76 |
| Clariant - Functional Chemicals | EBITDA | -1.2% | -0.5% | -0.7% | 46% | 0.9 | Basic Chemicals | 153 |
| BKW FMB Energie | EBITDA | 0.9% | 1.1% | -0.3% | 46% | 0.9 | Power Production Europe | 68 |
| Geberit | EBITDA | -1.6% | -0.5% | -1.1% | 46% | 0.9 | Sanitary Systems | 67 |
| Looser - Doors | EBITDA | -0.7% | 1.1% | -1.8% | 45% | 0.9 | Doors/Frames | 44 |
| Belimo | EBITDA | -0.9% | -0.7% | -0.3% | 45% | 0.9 | Actuator & Valve Technology | 86 |
| ABB - Power Products | EBITDA | -0.9% | -0.6% | -0.3% | 44% | 0.9 | Power Products | 64 |
| Zurich Financial Services | Operating Income | 1.7% | 2.5% | -0.8% | 44% | 0.9 | Multi-line Insurer | 256 |
| Bucher | Average | n/a | n/a | n/a | 44% | 0.9 | Division Weighted | n/a |
| Synthes | EBITDA | 2.8% | 4.6% | -1.8% | 43% | 0.9 | Orthopedic Devices | 25 |
| Baloise | Operating Income | -0.5% | 5.0% | -5.5% | 43% | 0.9 | Multi-line Insurer Europe | 53 |
| Swiss Re | Operating Income | 8.9% | 10.1% | -1.2% | 43% | 0.9 | Reinsurer | 40 |
| Barry Callebaut - Retail Private Customers | EBITDA | -0.1% | 0.2% | -0.3% | 43% | 0.9 | Chocolate & Confectionery | 79 |
| St. Galler Kantonalbank | Operating Income | 0.7% | 1.1% | -0.4% | 42% | 0.8 | National/State Retail Banks Europe | 36 |
| Uster Technologies | EBITDA | -8.7% | -7.4% | -1.2% | 42% | 0.8 | Special Textile Machinery | 44 |
| Ascom | EBITDA | -0.7% | 0.1% | -0.8% | 42% | 0.8 | Telecommunication Systems | 81 |
| OC Oerlikon - Textile | EBITDA | -9.1% | -6.0% | -3.1% | 41% | 0.8 | Textile Industry | 40 |
| Vontobel | Operating Income | 1.1% | 5.1% | -4.1% | 41% | 0.8 | Investment Banking | 78 |
| EFG International | Operating Income | -5.0% | -1.1% | -3.9% | 41% | 0.8 | Wealth Management Europe | 39 |
| Kühne & Nagel - Air Freigth | EBITDA | -1.6% | -0.4% | -1.2% | 41% | 0.8 | Air Freight and Cargo | 84 |
| Valora | EBITDA | 0.4% | 0.7% | -0.3% | 40% | 0.8 | Grocery | 98 |
| Holcim | Average | n/a | n/a | n/a | 40% | 0.8 | Division Weighted | n/a |
| Basellandschaftliche Kantonalbank | Operating Income | 0.2% | 1.1% | -1.0% | 39% | 0.8 | National/State Retail Banks Europe | 36 |
| Walter Meier | EBITDA | -1.2% | 0.0% | -1.2% | 39% | 0.8 | Heating/Cooling Equipment | 78 |
| AFG | Average | n/a | n/a | n/a | 38% | 0.8 | Division Weighted | n/a |
| Orell Füssli - Security Printing | EBITDA | -9.5% | -8.6% | -0.9% | 38% | 0.8 | Security Printing | 11 |
| Swisscom | EBITDA | -1.0% | 0.2% | -1.3% | 37% | 0.7 | Telecommunications | 98 |
| Hügli | EBITDA | 1.2% | 2.1% | -0.8% | 37% | 0.7 | Food Producers | 73 |
| Forbo | EBITDA | -0.9% | 0.7% | -1.6% | 37% | 0.7 | Flooring & Bonding Material | 247 |
| Holcim - Cement | EBITDA | -3.2% | 1.5% | -4.7% | 36% | 0.7 | Cement & Clinker | 72 |
| Adecco | EBITDA | -4.1% | -2.3% | -1.8% | 36% | 0.7 | Employment Services | 102 |
| Holcim - Aggregates | EBITDA | -2.7% | -0.4% | -2.3% | 35% | 0.7 | Aggregates Producer | 149 |
| Nestlé - Beverages | EBIT | 0.2% | 2.1% | -1.9% | 34% | 0.7 | Beverages (Coffee/Water) | 108 |
| SGS | EBITDA | -2.8% | -0.2% | -2.6% | 34% | 0.7 | Testing/Inspection/Verification | 194 |
| ABB | Average | n/a | n/a | n/a | 34% | 0.7 | Division Weighted | n/a |
| AFG - Heating & Sanitary | EBITDA | -0.2% | 0.6% | -0.8% | 33% | 0.7 | Heating / Sanitary Equipment | 59 |
| Kuoni | EBITDA | -2.7% | -1.2% | -1.6% | 33% | 0.7 | Travel/Tour Operators | 61 |
| Zuger Kantonalbank | Operating Income | -0.5% | 1.1% | -1.6% | 33% | 0.7 | National/State Retail Banks Europe | 36 |
| Novartis - Pharmaceuticals | EBITDA | 1.7% | 3.7% | 2.0% | 33% | 0.7 | Pharma Large | 91 |
| ABB - Power Systems | EBITDA | -3.1% | 0.0% | -3.1% | 31% | 0.6 | Power Systems | 66 |
| Givaudan | EBITDA | -0.5% | 2.5% | -3.0% | 31% | 0.6 | Flavoring Extracts | 142 |
| Bucher - Emhart Glass | EBITDA | -5.5% | -1.1% | -4.4% | 31% | 0.6 | Special Machinery (Glass) | 53 |
| Comet | EBITDA | -11.2% | 0.2% | -11.4% | 31% | 0.6 | Capacitors/X-Ray | 27 |
| Schweiter | EBITDA | -10.1% | -4.7% | -5.4% | 30% | 0.6 | Textile Machinery | 65 |
| Bank CA St. Gallen | Operating Income | -0.9% | 1.1% | -2.0% | 30% | 0.6 | National/State Retail Banks Europe | 36 |
| Rieter | Average | n/a | n/a | n/a | 30% | 0.6 | Division Weighted | n/a |
| Clariant - Textile Leather Paper | EBITDA | -3.0% | 1.0% | -4.0% | 30% | 0.6 | Textile Chemicals | 97 |
| Clariant | Average | n/a | n/a | n/a | 30% | 0.6 | Division Weighted | n/a |
| Flughafen Zurich | EBITDA | -2.1% | 1.6% | -3.7% | 29% | 0.6 | Airport/Airline | 159 |
| OC Oerlikon | Average | n/a | n/a | n/a | 29% | 0.6 | Division Weighted | n/a |
| Actelion | EBITDA | -2.2% | 1.4% | -3.6% | 29% | 0.6 | Pharmaceutical & Chemical Industry | 178 |
| Banque Cantonale Du Jura | Operating Income | -1.8% | 1.1% | -3.0% | 27% | 0.5 | National/State Retail Banks Europe | 36 |
| Roche | EBITDA | -3.5% | 0.2% | -3.7% | 27% | 0.5 | Pharmaceuticals and Diagnostics Large | 33 |
| Bucher - Process | EBITDA | -9.9% | -4.7% | -5.2% | 27% | 0.5 | Food Processing Machinery | 74 |
| Mikron | EBITDA | -11.8% | -5.3% | -6.5% | 27% | 0.5 | Machine Tools/Assembly Solutions | 85 |
| Partners Group | Operating Income | -3.4% | 5.1% | -8.6% | 27% | 0.5 | Investment Banking | 78 |
| Emmi | EBITDA | 0.9% | 2.3% | -1.4% | 26% | 0.5 | Milk Products | 62 |
| Huber & Suhner | EBITDA | -4.1% | 1.5% | -5.6% | 26% | 0.5 | Cables / Fibre Optics | 42 |
| ABB - Automation Products | EBITDA | -5.6% | -2.4% | -3.2% | 25% | 0.5 | Automation Products | 105 |
| Novartis | Average | n/a | n/a | n/a | 25% | 0.5 | Division Weighted | n/a |
| Cham Paper Group | EBITDA | 0.9% | 3.7% | -2.8% | 25% | 0.5 | Paper Industry | 121 |
| CPH | EBITDA | -3.6% | 0.9% | -4.5% | 25% | 0.5 | Paper/Chemicals | 133 |
| Kardex | EBITDA | -7.6% | -3.9% | -3.7% | 25% | 0.5 | Storage Solutions | 62 |
| Micronas Semiconductor | EBITDA | -10.9% | 1.6% | -12.5% | 25% | 0.5 | Semiconductors/Integrated Circuits | 75 |
| Tamedia | EBITDA | -8.6% | 4.1% | -12.7% | 24% | 0.5 | Printing/Publishing/Broadcasting | 34 |
| Publigroupe | EBITDA | -2.8% | 0.1% | -2.9% | 24% | 0.5 | Market of Advertisement | 80 |
| Interroll | EBITDA | -11.0% | -3.4% | -7.6% | 24% | 0.5 | Conveyors and Industrials | 111 |
| Galenica - Logistics | EBITDA | -0.2% | 0.9% | -1.1% | 23% | 0.5 | Pharmaceutical Retail | 66 |
| Nestlé | Average | n/a | n/a | n/a | 23% | 0.5 | Division Weighted | n/a |
| Nestlé - Milk Products | EBIT | -0.2% | 2.7% | -2.9% | 23% | 0.5 | Dairy Products | 126 |
| AFG - Steel Technology | EBITDA | -11.8% | -0.4% | -11.4% | 22% | 0.4 | Steel Technology | 38 |
| Bachem | EBITDA | -8.5% | 1.7% | -10.3% | 22% | 0.4 | API/Intermediates/Compounds | 172 |
| Mobilzone | EBITDA | -1.0% | 0.3% | -1.4% | 22% | 0.4 | Mobile Phone Retail | 37 |
| Rieter - Automotive Systems | EBITDA | -5.1% | 1.3% | -6.4% | 22.00% | 0.4 | Automotive Systems | 302 |
| Lonza - Custom Manufacturing | EBITDA | -8.3% | 4.2% | -12.5% | 22% | 0.4 | Exklusive Synthesis | 96 |
| Siegfried | EBITDA | -9.2% | 1.7% | -11.0% | 21% | 0.4 | API/Intermediates/Compounds | 172 |
| Galenica | Average | n/a | n/a | n/a | 21% | 0.4 | Division Weighted | n/a |
| Lonza | Average | n/a | n/a | n/a | 20% | 0.4 | Division Weighted | n/a |
| Bucher - Hydraulics | EBITDA | -8.5% | -0.5% | -8.0% | 20% | 0.4 | Hydraulic System Manufacturer | 97 |
| Burkhalter | EBITDA | -2.2% | 2.4% | -4.6% | 20% | 0.4 | Electronic Installation | 27 |
| Lindt & Sprüngli | EBITDA | -3.0% | 0.2% | -3.3% | 20% | 0.4 | Chocolate & Confectionery | 79 |
| Nobel Biocare | EBITDA | -4.4% | -0.4% | -4.0% | 20% | 0.4 | Dental Implants | 17 |
| Bank Rothschild | Operating Income | -6.9% | 5.1% | -12.1% | 20% | 0.4 | Investment Banking | 78 |
| Nestlé - Confectionary | EBIT | -0.2% | 1.7% | -1.9% | 19% | 0.4 | Chocolate & Confectionery | 76 |
| Lonza - Life Science Ingredients | EBITDA | -3.0% | 2.6% | -5.5% | 19% | 0.4 | Life Science | 88 |
| AFG - Kitchens & Refrigeration | EBITDA | -3.1% | 2.9% | -6.0% | 19% | 0.4 | Kitchens & Refrigeration | 81 |
| Charles Vögele | EBITDA | -3.1% | 0.8% | -3.8% | 18% | 0.4 | Clothing Apparel and Shoes | 127 |
| Coltene | EBITDA | -2.6% | 2.2% | -4.9% | 16% | 0.3 | Dental Consumables | 40 |
| Leclanche | EBITDA | -16.1% | -2.0% | -14.1% | 15% | 0.3 | Batteries | 54 |
| Schulthess | EBITDA | -4.1% | 0.6% | -4.7% | 14% | 0.3 | Laundry equipment | 81 |
| UBS | Operating Income | -9.8% | 0.7% | -10.5% | 14% | 0.3 | Very Large Diversified Global Banks | 39 |
| Cicor | EBITDA | -10.1% | 1.3% | -11.5% | 14% | 0.3 | Electrical Interconnectors | 33 |
| Romande Energie | EBITDA | -5.4% | 1.1% | -6.5% | 14% | 0.3 | Power Production Europe | 68 |
| Von Roll - Insulation | EBITDA | -6.6% | -0.3% | -6.3% | 12% | 0.2 | Insulation Products | 78 |
| Bobst | EBITDA | -13.2% | -0.9% | -12.2% | 12% | 0.2 | Printing / Packaging Machinery | 145 |
| Von Roll | Average | n/a | n/a | n/a | 12% | 0.2 | Division Weighted | n/a |
| Tornos | EBITDA | -17.4% | -9.1% | -8.2% | 11% | 0.2 | Special Machinery | 36 |
| OC Oerlikon - Drive Systems | EBITDA | -9.5% | 0.2% | -9.6% | 10% | 0.2 | Drive Systems | 102 |
| Nestlé - Prepared Dishes | EBIT | -0.4% | 2.1% | -2.5% | 10% | 0.2 | Prepared Foods | 138 |
| Von Roll - Composites | EBITDA | -11.4% | -1.2% | -10.2% | 10% | 0.2 | Composites | 85 |
| Novartis -Sandoz | EBITDA | -0.8% | 4.1% | -4.9% | 9% | 0.2 | Generics & OTC | 67 |
| Galenica - Pharma | EBITDA | -20.9% | 1.8% | -22.7% | 8% | 0.2 | Pharmaceuticals Manufacturer | 83 |
| Inficon | EBITDA | -10.5% | 1.6% | -12.1% | 8% | 0.2 | Measuring Devices | 68 |
| Novartis - Consumer Health | EBITDA | -0.2% | 3.6% | -3.8% | 6% | 0.1 | Consumer Health | 40 |
| Schlatter | EBITDA | -11.6% | -5.5% | -6.2% | 6% | 0.1 | Welding Plants and Machinery | 40 |
| Feintool | EBITDA | -11.9% | -1.2% | -10.7% | 4% | 0.1 | Machine Tools | 41 |
| Komax | EBITDA | -14.9% | 1.7% | -16.6% | 3% | 0.1 | Wire Processing and Assembly | 91 |
| Clariant - Pigments & Additives | EBITDA | -8.6% | -0.7% | -7.9% | 3% | 0.1 | Pigments & Additives | 116 |
| ABB - Robotics | EBITDA | -18.8% | -1.5% | -17.2% | 0% | 0.0 | Robotics | 49 |
| Straumann | EBITDA | -7.2% | -0.4% | -6.8% | 0% | 0.0 | Dental Implants | 17 |
Results sorted by company
see list sorted by bonus multiplier
see Bonus Index method
| Company Name | Metric Type | Metric Value |
Operating Index |
Operating Alpha |
Operating Rank |
Bonus Multiplier |
Universe Name | Number of Peers |
| ABB | Average | n/a | n/a | n/a | 34% | 0.7 | Division Weighted | n/a |
| ABB - Automation Products | EBITDA | -5.6% | -2.4% | -3.2% | 25% | 0.5 | Automation Products | 105 |
| ABB - Power Products | EBITDA | -0.9% | -0.6% | -0.3% | 44% | 0.9 | Power Products | 64 |
| ABB - Power Systems | EBITDA | -3.1% | 0.0% | -3.1% | 31% | 0.6 | Power Systems | 66 |
| ABB - Robotics | EBITDA | -18.8% | -1.5% | -17.2% | 0% | 0.0 | Robotics | 49 |
| Acino | EBITDA | 7.9% | 4.3% | 3.6% | 59% | 1.2 | Generics / Pharmaceuticals | 78 |
| Actelion | EBITDA | -2.2% | 1.4% | -3.6% | 29% | 0.6 | Pharmaceutical & Chemical Industry | 178 |
| Adecco | EBITDA | -4.1% | -2.3% | -1.8% | 36% | 0.7 | Employment Services | 102 |
| Adval Tech | EBITDA | -3.0% | -4.2% | 1.3% | 63% | 1.3 | Stamping/Forming Machinery | 76 |
| AFG | Average | n/a | n/a | n/a | 38% | 0.8 | Division Weighted | n/a |
| AFG - Heating & Sanitary | EBITDA | -0.2% | 0.6% | -0.8% | 33% | 0.7 | Heating / Sanitary Equipment | 59 |
| AFG - Kitchens & Refrigeration | EBITDA | -3.1% | 2.9% | -6.0% | 19% | 0.4 | Kitchens & Refrigeration | 81 |
| AFG - Steel Technology | EBITDA | -11.8% | -0.4% | -11.4% | 22% | 0.4 | Steel Technology | 38 |
| AFG - Windows & Doors | EBITDA | -0.1% | -1.2% | 1.0% | 63% | 1.3 | Windows & Doors | 33 |
| Allreal | Operating Income | -0.2% | -0.2% | 0.0% | 49% | 1.0 | Real Estate | 115 |
| Also | EBITDA | 0.0% | 0.1% | 0.0% | 49% | 1.0 | IT Retail | 94 |
| Ascom | EBITDA | -0.7% | 0.1% | -0.8% | 42% | 0.8 | Telecommunication Systems | 81 |
| Bachem | EBITDA | -8.5% | 1.7% | -10.3% | 22% | 0.4 | API/Intermediates/Compounds | 172 |
| Baloise | Operating Income | -0.5% | 5.0% | -5.5% | 43% | 0.9 | Multi-line Insurer Europe | 53 |
| Bank CA St. Gallen | Operating Income | -0.9% | 1.1% | -2.0% | 30% | 0.6 | National/State Retail Banks Europe | 36 |
| Bank Rothschild | Operating Income | -6.9% | 5.1% | -12.1% | 20% | 0.4 | Investment Banking | 78 |
| Bank Sarasin | Operating Income | 0.2% | -1.1% | 1.3% | 56% | 1.1 | Wealth Management Europe | 39 |
| Banque Cantonale De Genève | Operating Income | 2.5% | 1.1% | 1.4% | 70% | 1.4 | National/State Retail Banks Europe | 36 |
| Banque Cantonale Du Jura | Operating Income | -1.8% | 1.1% | -3.0% | 27% | 0.5 | National/State Retail Banks Europe | 36 |
| Banque Cantonale Vaudoise | Operating Income | 1.7% | 1.1% | 0.6% | 61% | 1.2 | National/State Retail Banks Europe | 36 |
| Barry Callebaut | Average | n/a | n/a | n/a | 51% | 1.0 | Division Weighted | n/a |
| Barry Callebaut - Industrial Customers | EBITDA | 0.5% | 0.2% | 0.3% | 55% | 1.1 | Chocolate & Confectionery | 79 |
| Barry Callebaut - Retail Private Customers | EBITDA | -0.1% | 0.2% | -0.3% | 43% | 0.9 | Chocolate & Confectionery | 79 |
| Basellandschaftliche Kantonalbank | Operating Income | 0.2% | 1.1% | -1.0% | 39% | 0.8 | National/State Retail Banks Europe | 36 |
| Basler Kantonalbank | Operating Income | 2.4% | 1.1% | 1.3% | 67% | 1.3 | National/State Retail Banks Europe | 36 |
| Belimo | EBITDA | -0.9% | -0.7% | -0.3% | 45% | 0.9 | Actuator & Valve Technology | 86 |
| Bell | EBITDA | 2.4% | 2.7% | -0.3% | 48% | 1.0 | Meat Processing | 85 |
| Berner Kantonalbank | Operating Income | 1.4% | 0.9% | 0.5% | 61% | 1.2 | National/State Retail Banks Europe | 36 |
| BKW FMB Energie | EBITDA | 0.9% | 1.1% | -0.3% | 46% | 0.9 | Power Production Europe | 68 |
| Bobst | EBITDA | -13.2% | -0.9% | -12.2% | 12% | 0.2 | Printing / Packaging Machinery | 145 |
| Bucher | Average | n/a | n/a | n/a | 44% | 0.9 | Division Weighted | n/a |
| Bucher - Emhart Glass | EBITDA | -5.5% | -1.1% | -4.4% | 31% | 0.6 | Special Machinery (Glass) | 53 |
| Bucher - Hydraulics | EBITDA | -8.5% | -0.5% | -8.0% | 20% | 0.4 | Hydraulic System Manufacturer | 97 |
| Bucher - Kuhn | EBITDA | -4.3% | -4.4% | 0.1% | 51% | 1.0 | Farm Machinery | 53 |
| Bucher - Municipal | EBITDA | -2.1% | -4.1% | 1.9% | 58% | 1.2 | Municipal Vehicle Manufacturers | 50 |
| Bucher - Process | EBITDA | -9.9% | -4.7% | -5.2% | 27% | 0.5 | Food Processing Machinery | 74 |
| Burkhalter | EBITDA | -2.2% | 2.4% | -4.6% | 20% | 0.4 | Electronic Installation | 27 |
| Calida | EBITDA | 2.3% | 0.7% | 1.7% | 63% | 1.3 | Underwear | 59 |
| Cham Paper Group | EBITDA | 0.9% | 3.7% | -2.8% | 25% | 0.5 | Paper Industry | 121 |
| Charles Vögele | EBITDA | -3.1% | 0.8% | -3.8% | 18% | 0.4 | Clothing Apparel and Shoes | 127 |
| Cicor | EBITDA | -10.1% | 1.3% | -11.5% | 14% | 0.3 | Electrical Interconnectors | 33 |
| Clariant | Average | n/a | n/a | n/a | 30% | 0.6 | Division Weighted | n/a |
| Clariant - Functional Chemicals | EBITDA | -1.2% | -0.5% | -0.7% | 46% | 0.9 | Basic Chemicals | 153 |
| Clariant - Pigments & Additives | EBITDA | -8.6% | -0.7% | -7.9% | 3% | 0.1 | Pigments & Additives | 116 |
| Clariant - Textile Leather Paper | EBITDA | -3.0% | 1.0% | -4.0% | 30% | 0.6 | Textile Chemicals | 97 |
| Coltene | EBITDA | -2.6% | 2.2% | -4.9% | 16% | 0.3 | Dental Consumables | 40 |
| Comet | EBITDA | -11.2% | 0.2% | -11.4% | 31% | 0.6 | Capacitors/X-Ray | 27 |
| CPH | EBITDA | -3.6% | 0.9% | -4.5% | 25% | 0.5 | Paper/Chemicals | 133 |
| Credit Suisse | Operating Income | 7.3% | 0.7% | 6.5% | 71% | 1.4 | Very Large Diversified Global Banks | 39 |
| EFG International | Operating Income | -5.0% | -1.1% | -3.9% | 41% | 0.8 | Wealth Management Europe | 39 |
| Emmi | EBITDA | 0.9% | 2.3% | -1.4% | 26% | 0.5 | Milk Products | 62 |
| EMS-Chemie | EBITDA | 0.1% | 0.9% | -0.7% | 47% | 0.9 | Polymers and Chemicals | 76 |
| Feintool | EBITDA | -11.9% | -1.2% | -10.7% | 4% | 0.1 | Machine Tools | 41 |
| Flughafen Zurich | EBITDA | -2.1% | 1.6% | -3.7% | 29% | 0.6 | Airport/Airline | 159 |
| Forbo | EBITDA | -0.9% | 0.7% | -1.6% | 37% | 0.7 | Flooring & Bonding Material | 247 |
| Galenica | Average | n/a | n/a | n/a | 21% | 0.4 | Division Weighted | n/a |
| Galenica - Logistics | EBITDA | -0.2% | 0.9% | -1.1% | 23% | 0.5 | Pharmaceutical Retail | 66 |
| Galenica - Pharma | EBITDA | -20.9% | 1.8% | -22.7% | 8% | 0.2 | Pharmaceuticals Manufacturer | 83 |
| Geberit | EBITDA | -1.6% | -0.5% | -1.1% | 46% | 0.9 | Sanitary Systems | 67 |
| Givaudan | EBITDA | -0.5% | 2.5% | -3.0% | 31% | 0.6 | Flavoring Extracts | 142 |
| Goldbach Media | EBITDA | -0.3% | 0.8% | -1.1% | 48% | 1.0 | Electronic Marketing | 34 |
| Graubundner Kantonalbank | Operating Income | 1.3% | 1.1% | 0.2% | 55% | 1.1 | National/State Retail Banks Europe | 36 |
| Gurit | EBITDA | 1.5% | 1.5% | 0.0% | 50% | 1.0 | Composite Materials | 46 |
| Helvetia | Operating Income | 4.2% | 5.0% | -0.8% | 49% | 1.0 | Multi-line Insurer Europe | 53 |
| Holcim | Average | n/a | n/a | n/a | 40% | 0.8 | Division Weighted | n/a |
| Holcim - Aggregates | EBITDA | -2.7% | -0.4% | -2.3% | 35% | 0.7 | Aggregates Producer | 149 |
| Holcim - Cement | EBITDA | -3.2% | 1.5% | -4.7% | 36% | 0.7 | Cement & Clinker | 72 |
| Holcim - Other Construction Material and Services | EBITDA | -1.2% | -0.9% | -0.3% | 47% | 0.9 | Concrete & Asphalt Producers | 120 |
| Huber & Suhner | EBITDA | -4.1% | 1.5% | -5.6% | 26% | 0.5 | Cables / Fibre Optics | 42 |
| Hügli | EBITDA | 1.2% | 2.1% | -0.8% | 37% | 0.7 | Food Producers | 73 |
| Implenia | EBITDA | 0.3% | -0.6% | 0.9% | 76% | 1.5 | Construction Service Large | 55 |
| Inficon | EBITDA | -10.5% | 1.6% | -12.1% | 8% | 0.2 | Measuring Devices | 68 |
| Interroll | EBITDA | -11.0% | -3.4% | -7.6% | 24% | 0.5 | Conveyors and Industrials | 111 |
| Intershop | Operating Income | 2.4% | -0.2% | 2.7% | 59% | 1.2 | Real Estate | 115 |
| IVF Hartmann | EBITDA | 3.7% | 1.4% | 2.4% | 69% | 1.4 | Injury-care Products | 110 |
| Julius Bär | Operating Income | 0.6% | 0.1% | 0.5% | 56% | 1.1 | Wealth Management Europe | 39 |
| Kardex | EBITDA | -7.6% | -3.9% | -3.7% | 25% | 0.5 | Storage Solutions | 62 |
| Komax | EBITDA | -14.9% | 1.7% | -16.6% | 3% | 0.1 | Wire Processing and Assembly | 91 |
| Kühne & Nagel | Average | n/a | n/a | n/a | 56% | 1.1 | Division Weighted | n/a |
| Kühne & Nagel - Air Freigth | EBITDA | -1.6% | -0.4% | -1.2% | 41% | 0.8 | Air Freight and Cargo | 84 |
| Kühne & Nagel - Contract Logistics | EBITDA | -0.3% | -0.5% | 0.1% | 51% | 1.0 | Logistics/Warehouse/Supply Chain | 280 |
| Kühne & Nagel - Rail & Road Logistics | EBITDA | 1.0% | -1.3% | 2.3% | 72% | 1.4 | Road & Rail | 145 |
| Kühne & Nagel - Sea Freight | EBITDA | -0.8% | -2.3% | 1.4% | 59% | 1.2 | Water Transportation | 171 |
| Kuoni | EBITDA | -2.7% | -1.2% | -1.6% | 33% | 0.7 | Travel/Tour Operators | 61 |
| Leclanche | EBITDA | -16.1% | -2.0% | -14.1% | 15% | 0.3 | Batteries | 54 |
| Liechtensteinische Landesbank | Operating Income | 1.7% | 1.1% | 0.6% | 58% | 1.2 | National/State Retail Banks Europe | 36 |
| Lindt & Sprüngli | EBITDA | -3.0% | 0.2% | -3.3% | 20% | 0.4 | Chocolate & Confectionery | 79 |
| Lonza | Average | n/a | n/a | n/a | 20% | 0.4 | Division Weighted | n/a |
| Lonza - Custom Manufacturing | EBITDA | -8.3% | 4.2% | -12.5% | 22% | 0.4 | Exklusive Synthesis | 96 |
| Lonza - Life Science Ingredients | EBITDA | -3.0% | 2.6% | -5.5% | 19% | 0.4 | Life Science | 88 |
| Looser | Average | n/a | n/a | n/a | 51% | 1.0 | Division Weighted | n/a |
| Looser - Coating | EBITDA | 1.2% | 0.1% | 1.0% | 56% | 1.1 | Coating | 53 |
| Looser - Doors | EBITDA | -0.7% | 1.1% | -1.8% | 45% | 0.9 | Doors/Frames | 44 |
| Luzerner Kantonalbank | Operating Income | 1.0% | 1.1% | -0.1% | 48% | 1.0 | National/State Retail Banks Europe | 36 |
| Micronas Semiconductor | EBITDA | -10.9% | 1.6% | -12.5% | 25% | 0.5 | Semiconductors/Integrated Circuits | 75 |
| Mikron | EBITDA | -11.8% | -5.3% | -6.5% | 27% | 0.5 | Machine Tools/Assembly Solutions | 85 |
| Mobilzone | EBITDA | -1.0% | 0.3% | -1.4% | 22% | 0.4 | Mobile Phone Retail | 37 |
| Mobimo | Operating Income | 2.6% | -0.2% | 2.8% | 60% | 1.2 | Real Estate | 115 |
| Nestlé | Average | n/a | n/a | n/a | 23% | 0.5 | Division Weighted | n/a |
| Nestlé - Beverages | EBIT | 0.2% | 2.1% | -1.9% | 34% | 0.7 | Beverages (Coffee/Water) | 108 |
| Nestlé - Confectionary | EBIT | -0.2% | 1.7% | -1.9% | 19% | 0.4 | Chocolate & Confectionery | 76 |
| Nestlé - Milk Products | EBIT | -0.2% | 2.7% | -2.9% | 23% | 0.5 | Dairy Products | 126 |
| Nestlé - Prepared Dishes | EBIT | -0.4% | 2.1% | -2.5% | 10% | 0.2 | Prepared Foods | 138 |
| Nobel Biocare | EBITDA | -4.4% | -0.4% | -4.0% | 20% | 0.4 | Dental Implants | 17 |
| Novartis | Average | n/a | n/a | n/a | 25% | 0.5 | Division Weighted | n/a |
| Novartis - Consumer Health | EBITDA | -0.2% | 3.6% | -3.8% | 6% | 0.1 | Consumer Health | 40 |
| Novartis - Pharmaceuticals | EBITDA | 1.7% | 3.7% | 2.0% | 33% | 0.7 | Pharma Large | 91 |
| Novartis -Sandoz | EBITDA | -0.8% | 4.1% | -4.9% | 9% | 0.2 | Generics & OTC | 67 |
| OC Oerlikon | Average | n/a | n/a | n/a | 29% | 0.6 | Division Weighted | n/a |
| OC Oerlikon - Drive Systems | EBITDA | -9.5% | 0.2% | -9.6% | 10% | 0.2 | Drive Systems | 102 |
| OC Oerlikon - Textile | EBITDA | -9.1% | -6.0% | -3.1% | 41% | 0.8 | Textile Industry | 40 |
| Orell Füssli | Average | n/a | n/a | n/a | 58% | 1.2 | Division Weighted | n/a |
| Orell Füssli - Book Retail | EBITDA | 1.9% | -0.1% | 2.0% | 71% | 1.4 | Book Retail | 34 |
| Orell Füssli - Security Printing | EBITDA | -9.5% | -8.6% | -0.9% | 38% | 0.8 | Security Printing | 11 |
| Panalpina | EBITDA | -1.8% | -1.8% | 0.0% | 51% | 1.0 | Transportation/Logistic Services | 160 |
| Partners Group | Operating Income | -3.4% | 5.1% | -8.6% | 27% | 0.5 | Investment Banking | 78 |
| Petroplus | EBITDA | 1.4% | 0.9% | 0.5% | 55% | 1.1 | Oil Refining and Marketing | 123 |
| PSP Swiss Property | Operating Income | 0.1% | -0.2% | 0.3% | 51% | 1.0 | Real Estate | 115 |
| Publigroupe | EBITDA | -2.8% | 0.1% | -2.9% | 24% | 0.5 | Market of Advertisement | 80 |
| Rätia Energie | EBITDA | 3.1% | 1.1% | 1.9% | 65% | 1.3 | Power Production Europe | 68 |
| Rieter | Average | n/a | n/a | n/a | 30% | 0.6 | Division Weighted | n/a |
| Rieter - Automotive Systems | EBITDA | -5.1% | 1.3% | -6.4% | 22% | 0.4 | Automotive Systems | 302 |
| Rieter - Textile Systems | EBITDA | -2.7% | -3.1% | 0.4% | 53% | 1.1 | Textile Systems | 78 |
| Roche | EBITDA | -3.5% | 0.2% | -3.7% | 27% | 0.5 | Pharmaceuticals and Diagnostics Large | 33 |
| Romande Energie | EBITDA | -5.4% | 1.1% | -6.5% | 14% | 0.3 | Power Production Europe | 68 |
| Schindler | EBITDA | 0.7% | -0.9% | 1.6% | 73% | 1.5 | Elevator & Escalator | 21 |
| Schlatter | EBITDA | -11.6% | -5.5% | -6.2% | 6% | 0.1 | Welding Plants and Machinery | 40 |
| Schulthess | EBITDA | -4.1% | 0.6% | -4.7% | 14% | 0.3 | Laundry equipment | 81 |
| Schweiter | EBITDA | -10.1% | -4.7% | -5.4% | 30% | 0.6 | Textile Machinery | 65 |
| SGS | EBITDA | -2.8% | -0.2% | -2.6% | 34% | 0.7 | Testing/Inspection/Verification | 194 |
| Siegfried | EBITDA | -9.2% | 1.7% | -11.0% | 21% | 0.4 | API/Intermediates/Compounds | 172 |
| Sika | EBIT | -0.6% | -9.4% | 8.8% | 75% | 1.5 | Construction Chemicals | 28 |
| St. Galler Kantonalbank | Operating Income | 0.7% | 1.1% | -0.4% | 42% | 0.8 | National/State Retail Banks Europe | 36 |
| StarragHeckert | EBITDA | -6.0% | -6.4% | 0.3% | 52% | 1.0 | Machining Centers | 52 |
| Straumann | EBITDA | -7.2% | -0.4% | -6.8% | 0% | 0.0 | Dental Implants | 17 |
| Sulzer | Average | n/a | n/a | n/a | 49% | 1.0 | Division Weighted | n/a |
| Sulzer - Pumps | EBITDA | -1.4% | -1.4% | 0.0% | 49% | 1.0 | Pumps | 120 |
| Swatch | Average | n/a | n/a | n/a | 57% | 1.1 | Division Weighted | n/a |
| Swatch - Watches & Jewelry | EBITDA | -0.5% | -1.0% | 0.5% | 57% | 1.1 | Watches Large | 23 |
| Swiss Prime Site | Operating Income | 1.3% | -0.2% | 1.5% | 54% | 1.1 | Real Estate | 115 |
| Swiss Re | Operating Income | 8.9% | 10.1% | -1.2% | 43% | 0.9 | Reinsurer | 40 |
| Swisscom | EBITDA | -1.0% | 0.2% | -1.3% | 37% | 0.7 | Telecommunications | 98 |
| Swisslog | EBITDA | -1.1% | -3.4% | 2.3% | 57% | 1.1 | Logistic Solutions | 80 |
| Syngenta | Average | n/a | n/a | n/a | 52% | 1.0 | Division Weighted | n/a |
| Syngenta - Crop Protection | EBITDA | -2.0% | -1.4% | -0.5% | 47% | 0.9 | Agricultural Crop Protection | 94 |
| Syngenta - Seeds | EBITDA | 4.8% | 2.0% | 2.8% | 69% | 1.4 | Agricultural Seeds | 74 |
| Synthes | EBITDA | 2.8% | 4.6% | -1.8% | 43% | 0.9 | Orthopedic Devices | 25 |
| Tamedia | EBITDA | -8.6% | 4.1% | -12.7% | 24% | 0.5 | Printing/Publishing/Broadcasting | 34 |
| Tecan | EBITDA | -0.7% | -1.0% | 0.4% | 52% | 1.0 | Lab Equipment Producers | 36 |
| Tornos | EBITDA | -17.4% | -9.1% | -8.2% | 11% | 0.2 | Special Machinery | 36 |
| UBS | Operating Income | -9.8% | 0.7% | -10.5% | 14% | 0.3 | Very Large Diversified Global Banks | 39 |
| Uster Technologies | EBITDA | -8.7% | -7.4% | -1.2% | 42% | 0.8 | Special Textile Machinery | 44 |
| Valiant | Operating Income | 0.0% | -1.1% | 1.0% | 52% | 1.0 | Wealth Management Europe | 39 |
| Valora | EBITDA | 0.4% | 0.7% | -0.3% | 40% | 0.8 | Grocery | 98 |
| Von Roll | Average | n/a | n/a | n/a | 12% | 0.2 | Division Weighted | n/a |
| Von Roll - Composites | EBITDA | -11.4% | -1.2% | -10.2% | 10% | 0.2 | Composites | 85 |
| Von Roll - Insulation | EBITDA | -6.6% | -0.3% | -6.3% | 12% | 0.2 | Insulation Products | 78 |
| Vontobel | Operating Income | 1.1% | 5.1% | -4.1% | 41% | 0.8 | Investment Banking | 78 |
| VP Bank | Operating Income | 2.8% | -1.1% | 3.9% | 70% | 1.4 | Wealth Management Europe | 39 |
| VZ Holding | Operating Income | 4.0% | 2.4% | 1.6% | 56% | 1.1 | Investment Advice | 154 |
| Walliser Kantonalbank | Operating Income | 1.2% | 1.1% | 0.1% | 52% | 1.0 | National/State Retail Banks Europe | 36 |
| Walter Meier | EBITDA | -1.2% | 0.0% | -1.2% | 39% | 0.8 | Heating/Cooling Equipment | 78 |
| Ypsomed | EBITDA | 0.4% | 0.4% | 0.0% | 53% | 1.1 | Injection Pen Manufacturers | 47 |
| Zehnder | EBITDA | 2.7% | -1.7% | 4.4% | 95% | 1.9 | Heating/Sanitary Equipment | 65 |
| Zuger Kantonalbank | Operating Income | -0.5% | 1.1% | -1.6% | 33% | 0.7 | National/State Retail Banks Europe | 36 |
| Zurich Financial Services | Operating Income | 1.7% | 2.5% | -0.8% | 44% | 0.9 | Multi-line Insurer | 256 |
| Zwahlen & Mayr | EBITDA | 0.0% | -2.2% | 2.2% | 70% | 1.4 | Steel Tubes/Metal Construction | 65 |
The bonus multiple in the table is the multiplier by which individual target bonuses (typically expected bonuses or average historic bonuses) are multiplied to calculate the deserved indexed bonus for 2009.
Notes
Obermatt has analyzed 238 SMI/SPI companies/divisions
Metric values used:
- Swiss Re: “Income/loss before income tax expense” excluding the acquisition costs
- UBS: Operating income of investment banking was excluded from total operating income
- Credit Suisse: Operating income of investment banking was excluded from total operating income
Excluded are the following companies due to missing data at time of data anaysis:
- Warteck Invest
- National Versicherung
- Sopracenerina
- Schmolz+Bickenbach
- Swissmetal
- Affichage
- Accu
- Conzzeta
- Metall Zug
Excluded due to extraordinary of credit crisis not stated in separately in the annual report:
- Swiss Life
- Valartis
- Vaudoise
- Actelion
- Bellevue Group
Excluded due to fiscal year end date March through July:
- Kaba
- Richemont
- Loeb
- Aryzta
- Edipresse
- Burckhard
- Logitech
- Sonova
- Dottikon
- LEM
- Infranor
- Carlo Gavazzi
- Züblin Immobilien
Excluded due to Peer Universe still under development:
- Elma
- Dätwyler
- Georg Fischer
- Energiedienst
- Meyer Burger
- Phoenix Mecano
- Schaffner AG
- Vetropack
Excluded due to disposal of operations
- Orell Füssli - Publishing
Excluded due to acquisition by Swiss Prime Site:
- Jelmoli
Excluded due to acquisition by Swiss Automotive:
- Metraux
Excluded due to exemption or delisting from SIX:
- LO Holding
- Quadrant
- Golay Buchel
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