Item 1: Annual Report, Group and Parent Company Accounts for Financial Year 2005 Reports of the Group and Statutory Auditors
A. Motion
The Board of Directors proposes that the Report on the Financial
Year 2005 and the Group and Parent Company Accounts for
2005 be approved.
B. Explanations
The reports of the Board of Directors and the Group Executive
Board on the financial year 2005 are contained in the “Financial
Report”. Additional information on the strategy, organization
and activities of the Group and the Business Groups, as well as
on risk management and control may be found in the “Handbook
2005 / 2006”. The Handbook also contains comprehensive
information relating to corporate governance as required by the
SWX Swiss Exchange Directive, including the report on senior executive
compensation. Shareholders may order copies of these
publications with the company, which are also available on the
internet at www.ubs.com / investors. Shareholders registered in
the Share Register in Switzerland will receive these publications
as per their individual orders. Shareholders in the USA, who are
registered with Mellon Investor Services will receive a copy of the
Annual Review, which contains the most important information
relating to performance in 2005.
The Group income statement shows a total operating income of
CHF 50,975 million and total operating expenses of CHF 37,926
million, resulting in an operating profit from continuing operations
before tax of CHF 13,049 million and a net profit attributable
to UBS shareholders of CHF 14,029 million. The Financial
Businesses (excluding Industrial Holdings) achieved a net profit
attributable to UBS shareholders of CHF 13,517 million. Total
consolidated assets increased by CHF 323.2 billion to reach a
new total of CHF 2,060.3 billion. Equity attributable to UBS
shareholders totalled CHF 44.3 billion.
Parent Company net profit was CHF 13,497 million. Total operating
income of CHF 26,462 million and total operating expenses
of CHF 15,112 million resulted in an operating profit of
CHF 11,350 million. Depreciations, write-offs and provisions
amounted to CHF 1,292 million, extraordinary income to
CHF 5,274 million, and taxes to CHF 1,835 million.
In its reports to the Annual General Meeting, Ernst & Young Ltd.,
as Group and Statutory Auditors, recommended without qualification
that the Group and Parent Company Accounts be approved.
The Group Auditors confirm that in their opinion the
Group Financial Statements accurately reflect the consolidated
financial position of UBS AG and the consolidated results of
operations and cash flows, in conformity with the International
Financial Reporting Standards (IFRS) and that they comply with
Swiss law. With respect to the Parent Company, the Statutory
Auditors confirm that the accounting records and financial statements
and the proposal of the Board of Directors relating to the
proposed appropriation of available earnings comply with Swiss
law and with the Articles of Association of UBS AG.
