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UBS publishes Annual Report 2010
UBS is today publishing its Annual Report for 2010. The report is available at www.ubs.com/annualreporting.
Zurich/Basel, 15 March 2011 - UBS's Annual Report for 2010 provides comprehensive information on the firm, its strategy, business, governance and financial performance. It contains both audited and unaudited information.
• UBS's net profit attributable to shareholders for 2010 was CHF 7.5 billion
• 2010's diluted earnings per share were CHF 1.96
These results differ from those presented in UBS's fourth quarter 2010 report issued on 8 February 2011 as a result of adjustments made subsequent to the publication of that report.
The net effect of the adjustments, which are explained in Note 33 to the financial statements included in the Annual Report 2010, was an increase in UBS's net profit attributable to shareholders of CHF 373 million (equivalent to an additional CHF 0.10 earnings per share).
The Annual Report 2010 consists of five sections:
Strategy, performance and responsibility: This section provides a description of UBS and its strategy, organizational structure and financial performance for the last two years. It also discusses UBS's standards for corporate behavior and responsibility, outlines demographic trends in its workforce and describes how personnel is managed and developed.
UBS business divisions and Corporate Center: This section provides a description of each business division and its performance for the last two years. In addition, it provides information about UBS's Group-wide shared service and control functions which are centralized in the Corporate Center.
Risk and treasury management: In addition to outlining the principles by which UBS manages and controls risk, this section covers developments in the areas of credit risk, market risk, operational risk and treasury management including funding, capital and balance sheet management during 2010, as well as additional Basel II Pillar 3 disclosures. It also includes information on UBS shares.
Corporate governance and compensation: This section provides information on UBS's governance structure and explains the guiding principles that govern compensation plans. It also includes details of the compensation of senior management and the Board of Directors.
Financial information: This section comprises the audited consolidated financial statements of UBS Group for 2010, 2009 and 2008, prepared according to the International Financial Reporting Standards (IFRS). It also includes the audited financial statements of UBS AG (the parent bank) for 2010 and 2009, prepared according to Swiss banking law. Additional disclosure required by Swiss and US regulations is included where appropriate.
UBS will also file its Annual Report for 2010 on Form 20-F with the US SEC today. The Form 20-F filing contains UBS's complete audited financial statements, in addition to other information, and will be available for viewing and downloading at www.ubs.com/sec-filings.
Hard copies of UBS's Annual Report 2010, the compensation report, and the summary review booklet (which are also online today) can be requested from:
CH-8098 Zurich, Switzerland
Tel: +41 44 238 50 15
Switzerland: +41-44-234 85 00
UK: +44-207-567 47 14
Americas: +1-212-882 58 57
APAC: +852-297-1 82 00
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