V ZUG : Annual Report 2022

V-ZUG Group

Annual Report

2022

Bringing simplicity into your

home and creativity into

your kitchen.

V-ZUG

Key Figures
2022 1	10.3(- 83.6 %)
50.2
Operating result (EBIT)
	in CHF million

Investments (Capex 2) 

in CHF million

Customer-focused despite challenging circumstances such as supply shortages and soaring procurement prices.

Net sales total

and by region 2022

in CHF million

Net sales 2019 - 2022

in CHF million

700			15.2 %	18.4 %
600	11.3 %	11.8 %
500
400
300
200
100
0	2019	2020	2021	2022

Switzerland

International own brand

International OEM business

% International Markets in % of total net sales

636.3

(+ 0.8 %)

Switzerland 519.5

Europe (excluding Switzerland) 32.3

North and South America 37.5

Asia/Pacific/Others 46.9

1.0

Cash flow from operating activities

in CHF million

1. The figures for the previous year's period were partially adjusted due to changes in accounting principles. For more information, see page 76 of this Annual Report.
2. "Capex" refers to additions to tangible and intangible assets.

Share information

Price development registered share V-ZUG Holding AG

(2022 financial year)

CHF 130 120 110 100

90

80

70

60

03.01.22	28.02.22	31.03.22	30.04.22	31.05.22	30.06.22	31.07.22	31.08.22	30.09.22	31.10.22	30.11.22	30.12.22
	SXGE - Swiss Performance Index, SPI (adjusted)							Source: www.six-group.com(each daily closing price for V- ZUG)
	V-ZUG N - Registered share V-ZUG Holding AG
in CHF										2022			2021
Number of shares in units					year end				6,428,571			6,428,571
Stock market capitalization				year end				584,999,961	790,714,233
Data per share
Group net result 1)									1.23			8.62
Cash flow from operating activities 1)								0.16			9.87
Shareholder's equity 1)									70.59			69.82
Dividend										- 2)			- 2)
Stock market price					high				126.00			155.00
							low				68.20			85.50
							year end				91.00			123.00

1. Based on weighted average of outstanding shares during the reporting period, see p. 83.
2. According to proposal of the Board of Directors.

Listing

The registered shares of V-ZUG Holding AG, domiciled in Zug, Swit- zerland (registered in the commercial register of the Canton of Zug under CHE-352.183.990), have been listed in the Swiss Reporting Standard of the SIX Swiss Exchange, Zurich, Switzerland, since 25 June 2020, and are included in the SPI (ticker symbol VZUG; security number 54 248 374, ISIN CH0542483745).

Important dates

25 April 2023 Annual General Meeting

21 July 2023 Publication of half-year results

Dividend policy

V-ZUG Holding AG is aiming at a dividend policy that is primarily based on the distributable profit level. Mid- and long-term, the pay-out ratio is expected to be between 20 % and 40 % of the Group net result. In the first three years after the spin-off from the Metall Zug Group, the available financial resources of the V-ZUG Group are to be used primarily for investments in products, markets and the production sites in Zug and Sulgen, as previously communicated in the context of the spin-off. Free cash flow in the 2022 financial year was CHF - 52.2 million. The Board of Directors therefore proposes to the Annual General Meeting that no dividend be paid at present.

4 Share information

Table of contents

Group Report

Letter to shareholders	06
Segment report	15
Household Appliances
Sustainability	31

The V-ZUG Group	10
Segment report	27
Real Estate

Corporate governance and compensation

Corporate Governance	41
Report
Executive Committee	52
Financial Report
Consolidated financial	72
statements
Multi-year key figures	114

Board of Directors	45
Compensation	61
Report

Financial statements	106
V-ZUG Holding AG

Addresses and legal information

V-ZUG Group	116		Legal information	117

addresses

Due to the relaunch of our website vzug.com, some of the links in the text will only be available as of April 2023. Until then, all content can be accessed directly on the website under "V-ZUG Group".

Table of contents

5