Annual Report Fiscal Year 2005

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1 Annual Report Fiscal Year 25 A Year of Success - when it has to be right

2 Three-Year Overview Profit & loss Unless otherwise stated amounts for Continuing Operations in CHF million/year ended March Sales Year-on-Year Growth 12.2% 6.% (8.8%) Currency-Adjusted Growth 15.5% 7.9% (2.%) Gross-Profit Gross-Profit Margin 53.% 51.2% 51.7% Total Operating Expenses (338.7) (324.8) (326.5) Earnings before Interest and Taxes (EBIT) EBIT Margin 9.3% 4.3% 1.1% Net Income/(Loss) Continuing Operations (13.7) Depreciation of Fixed Assets IAS 38 Amortization Goodwill Amortization EBITDA EBITDA Margin 16.6% 14.3% 12.3% Adjusted EBITDA Adjusted EBITDA Margin 13.2% 8.8% 6.% Net Income from Discontinued Operations Total Net Income Basic EPS (in CHF) Fully Diluted EPS (in CHF) Balance sheet & cash flow Net Working Capital Net Working Capital/Sales 15.8% 16.4% 16.% Total Assets Net Debt Net Equity Debt/Equity 29% 48% 49% Cash Flow from Operating Activities Tangible Capital Expenditures (24.) (16.) (19.6) Intangible Capital Expenditures (28.8) (39.2) (4.9) Total Employees 2,398 2,461 2,388 1 Goodwill amortization was discontinued in fiscal year 25 2 Calculated as EBITDA less the amount of internally generated and capitalized development costs during the period 3 Net debt is calculated as total debt, net of cash and unamortized debt issue costs Sales (Continuing) EBITDA (Continuing) Net income (Continuing) Sales by division Surveying & Engineering 64% GIS & Mapping 12% Metrology 9% Consumer Products 8% High-Definition Surveying 4% Special Products 3% FY3 FY4 FY5 FY3 FY4 FY5 FY3 FY4 FY Sales in CHF million Currency-adjusted sales growth in % Sales growth in % EBITDA in CHF million EBITDA of sales in % In CHF million

3 Contents Annual Report A Year of Success The Way Forward Corporate Responsibility Operating Divisions Locations Glossary Summary 2 Highlights Fiscal Year 25 4 Profile 5 Letter to Shareholders 6 Corporate Management 8 Summary 1 The Road Ahead 12 Leadership through Innovation 14 Understanding Customers Needs 16 Quality Assurance 19 Summary 2 Statement of Responsibility 22 Commitment to Sustainable Development 23 Reducing our Environmental Footprint 26 Social Commitment 27 Summary 28 Divisional Overview 3 Surveying & Engineering 32 High-Definition Surveying (HDS) 34 GIS & Mapping 36 Consumer Products 38 Metrology 4 Special Products 42 Worldwide 43 Company Contact Information 44 Definition of Key Terms 46 Words in italic are explained in glossary. The corporate governance report and the financial results may be found in the Corporate Governance and Financial Report attached to this volume. Contents 1

4 AYearofSucc New products drive growth The flood of new products continued again this year, contributing to sales growth of above 12%. Over 5% of total turnover was generated from products less than one year on the market. When it has to be right The company launched its new corporate identity campaign during the year, capturing the essence of Leica Geosystems promise to all stakeholders Trust when it has to be right! Significant increase in profitability With a robust sales growth, an improved gross margin, and restrained increases in operating costs, profitability increased significantly in fiscal year 25. 2

5 ess provides solutions for customers entire workflow First dividend to shareholders to be proposed With record net earnings, and a positive outlook for the future, will propose its first-ever dividend payment to shareholders at the Annual General Meeting on July 6, 25. 3

6 Highlights Fiscal Year 25 Momentum for ADS4 Hong Kong expands GPS network Redemption of high-yield notes Commencement of T-Probe shipments Launch of Leica Sprinter Kempen Socially Responsible Index USDA standardizes on LPS Frost & Sullivan Award Launch of HDS educational program Launch of SmartStation GPS and TPS in one instrument GPS reference station software New facility in Singapore April 24: North West Geomatics Ltd in Canada adds a second ADS4 Airborne Digital Sensor to its range in response to a material surge in demand for digital imagery from its clients. May 24: The Hong Kong Lands Department commissions to set up six additional GPS reference stations and upgrade the existing GPS network s equipment and software. June 24: redeems the entire principal of its 65 million euro high-yield notes issue and refinances the notes with a new four-year-term loan. July 24: begins shipments of the revolutionary new armless and wireless T-Probe portable measurement system to key customers in the automotive and aerospace sectors. August 24: rolls out the world s first low-cost, easyto-use electronic level. The Leica Sprinter combines high efficiency and unique functionality with unparalleled user-friendliness. September 24: is admitted to the Kempen/SNS Smaller Europe SRI (socially responsible investment) Index. October 24: The United States Department of Agriculture (USDA) Natural Resources Conservation Service (NRCS) selects the Leica Photogrammetry Suite (LPS) to support and streamline the National Resources Inventory, thus establishing LPS as the premier software tool for photogrammetric applications. November 24: Frost & Sullivan chooses to receive its Industrial Automation Product Innovation of the Year award for the new Local Positioning Technology, including the hand-held ultralight T-Probe and T-Scan. December 24: HDS, LLC (High-Definition Surveying) announces the launch of a new Education Product Program (EPP), a formalized purchase program for educational institutions that teach or conduct research into the field of High-Definition Surveying. January 25: launches SmartStation, the world s first all-in, high-performance total station with integrated GPS. Shipments began in March 25. February 25: introduces GPS Spider V2., an integrated software suite for controlling and operating single reference stations or networks from a central location. March 25: announces the official opening of its Singapore-based global headquarters for leveling and alignment products. 4 Annual Report

7 Who We Are and What We Do when it has to be right People who build houses or bridges, make maps and design aircraft need measurements they can rely on. With almost 2 years experience in pioneering solutions to measure the world, Leica Geosystems is best known for a broad range of products that capture and analyze spatial data easily and accurately, generate models quickly, and are capable of presenting spatial information in 3-D. People who use our products every day trust them for their dependability, the value they deliver, and our superior customer support. Innovation: We have a long history of firsts, including the theodolite, the aerial camera and the world s first total station with integrated GPS the SmartStation. Precision and accuracy: We lead the field in facilitating the capture of precise spatial information that can be measured repeatedly and consistently to specification. Broad solution range: We offer the widest choice of solutions for high-precision data capture, fast modeling, easy analysis, and full 3-D visualization and presentation of spatial information. Reputation: The Leica brand is synonymous with high precision, excellent quality and reliability, as well as first-class customer service and organization. Quality: products are renowned for their dependability in the field. Taking cutting-edge solutions to the world Based in Heerbrugg, Switzerland, is a genuinely global company, with tens of thousands of customers supported by more than 2,3 employees in 21 countries and hundreds of partners located in more than 12 countries around the world. In the course of its history, has grown from modest origins into the world s leader in surveying innovation. Pushing forward the barriers with total solutions is a total-solution provider, working to supply our customers with systems that address their needs precisely, We give our customers the tools all the way through from presale advisory services to after-sales they need to do the support. Many of our solutions job quickly, precisely feature cutting-edge approaches, and reliably. such as digital imaging and laser scanning, but whatever the technology, they are ultimately designed to enable our customers to do their jobs faster and more efficiently than before. The leading position we hold in our industry is based on a solid foundation of qualities which, taken together, give us a unique position in the world of geospatial systems. These are: Service: We deliver outstanding service where and when it matters. Our customers trust us to keep their equipment up and running at all times. Product applications products and solutions are widely used in: Surveying, engineering and construction Civil and structural engineering Public and private infrastructure projects Asset and facilities management Aerospace, automotive and general industries Mining and exploration Agriculture and forestry Mapping Urban planning and cadastral applications Disaster management Our solutions in action Some of the more impressive examples of our solutions in action include: The use of equipment and software solutions in the planning and construction of the world s highest bridge in the south of France. Quality control during the construction of NASA s space station, the Airbus A38 and Renault s F1 racing car, provided by Leica Geosystems laser trackers and photogrammetry. The use of GPS technology, photogrammetry, total stations and machine guidance systems to ensure completion of Hong Kong s Chek Lap Kok Airport in record time. A Year of Success 5

8 Letter to Shareholders When it has to be right. This simple phrase is packed with relevance for our company. At the heart of the statement is trust; trust in Leica Geosystems by our customers, employees, business and community partners, and investors. When it has to be right also means commitment. Commitment to providing our customers with the right products, services and solutions, so they can succeed in critical missions, meet tight schedules and enhance productivity. In this year s Annual Report, we will highlight key elements of this commitment, ranging from product innovation through to our customer care program. A record year The financial success of this year, a record achievement in many respects, was made possible by the careful groundwork laid several years before. With significant investments in research and development, we now offer one of the most comprehensive baskets of products and solutions in our industry. In our current portfolio, customers have the choice of solutions that span the geospatial imaging chain from sensors that capture data in varying degrees of density, through to software solutions and service offerings that enable customers to work with up to terabytes of spatial data. During the year, we again launched many new products onto the market, including the Smart- Station in March 25. The SmartStation is a milestone in the surveying industry, and is an extension of our successful System 12 family, which was a material contributor to our business growth this year. Other products include the new Local Positioning Technology products from Metrology, an expanded offering of constructionoriented products, GPS reference station software, and new machine automation solutions, particularly in the mining sector. Expanding our customer base We continued to gain the trust of many new customers during the year. This is evidenced by local-currency growth in several of our businesses at multiples of historical market growth rates. In Surveying & Engineering, growth in our highend TPS and GPS businesses was particularly strong, further supported by solid demand for our low-cost leveling and alignment products. Our move of the leveling and alignment business unit to a new facility in Singapore should enable us to make deeper inroads in Asia, a key growth region for. Geographically, we continue to hold a leading market position in Europe, where we recorded sales growth of 1% this year. We see further opportunities in Europe, particularly in the emerging markets of the east, which will complement our solid presence in Western Europe. Our strongest growth regions this year, however, were the Americas and Asia Pacific, where we realized top-line growth rates approaching 3% in local currency. Growth in these regions was bolstered by a combination of a strong product offering and intense marketing initiatives. Apart from this, new organizational structures added the local management expertise needed in these markets. We expect to see continued strong growth in both regions in the upcoming year. Our expanding presence in China, led by a dedicated member of management reporting to the CEO, underscores our commitment to this region. Outstanding sustainability ratings Responsible corporate citizenship is part of an ensemble of values held by. In last year s Annual Report, we presented our first comprehensive Corporate Responsibility report. We plan to prepare such a report once every two years, with an update in alternate years. In this year s Annual Report, an update year, we present several interesting examples of how solutions from contribute to our global sustainability efforts. We also summarize achievements and opportunities in this area. We are pleased to report that many international rating organizations with a focus on sustainable business practices awarded ratings above our industry average this year, and numerous sustainable investment funds have now included our shares in their investment portfolios. 6 Annual Report

9 Strong results lead to first dividend Success in our markets this year led to a record financial result. Sales in Swiss francs were CHF million, a growth of 12.2% in Swiss francs, and 15.5% in local currencies. Growth in the top line as well as the gross margin gave us the means to make additional investments in research and development and product-marketing programs, and still increase our earnings by a multiple of the growth in sales. Our EBITDA margin increased to 16.6% of sales, and our adjusted EBITDA (which removes capitalized R&D expenditures) rose to 13.2%. The positive benefits of no goodwill amortization, falling debt levels, lower interest rates, and a beneficial tax structure supported the growth in operational earnings, giving rise to net income of CHF 5.6 million, the highest level in our company s history. With this performance, and our growth expectations for the future, we will propose to pay the first dividend to shareholders since the initial public offering in 2 of CHF 4 per share. This proposal will be put forward to shareholders at the Annual General Meeting on July 6, 25. Solid outlook for 26 Looking ahead to fiscal year 26, we expect to have another solid year of sales growth. Earnings should also continue to grow above the rate of sales. Heerbrugg, June 9, 25 In closing, we would like to thank all of our stakeholders for your continued interest in Leica Geosystems. We look forward to another exciting year and know that when it has to be right, you will place your trust in. Mr. Mario Fontana Chairman of the Board of Directors Mr. Hans Hess President and Chief Executive Officer A Year of Success 7

10 Our Mission and Values Mission When it has to be right, customers can trust to provide innovative solutions and services for the capture, modeling and visualization of 3-D spatial information. Values Our company is guided by the six fundamental values that comprise our Code of Conduct. Customer orientation Commitment to quality Open and constructive communication Integrity and trust Innovation Entrepreneurial spirit These values are intrinsic to our daily activities and reflected in the way we: Serve our customers Produce and deliver our products Communicate internally and externally Remain responsive and competitive through innovation Strive to maintain our entrepreneurial spirit as we grow, and lastly Conduct ourselves as suppliers, employees, and corporate citizens Corporate Management From left to right: Eric Poll, Corporate VP Strategic Marketing, Walter Mittelholzer, President Metrology division, Aad van Vliet, Chief Human Resources Officer, Klaus Brammertz, President Consumer Products division, Christian Leu, Chief Financial Officer, Erwin Frei, President HDS division (resigned as of May 1, 25), Hans Hess, President and Chief Executive Officer, Robert Morris, President GIS & Mapping division, Clement Woon, President Surveying & Engineering division Experienced Leadership can justly claim to be a global company. Apart from the international scale of our operations, the Corporate Management Team is made up of individuals of diverse national origins, which guarantees a cosmopolitan, interdisciplinary approach to our business. The Corporate Management Team, comprising four corporate officers and five divisional presidents, hails from Europe, Asia and the Americas not coincidentally the most strategically important regions for the company s operations. Technical degrees are the most common academic background in the team. Three members of the team hold advanced engineering degrees, as well as one doctorate in Astronomy. The remaining members hold degrees in Human Re- 8 Annual Report

11 sources, Finance and Business Administration, Social Science and Forestry. Four individuals on the team have MBAs. The industrial experience of the team complements their varied educational backgrounds. Several members of the team have spent a significant amount of their professional careers in our industry. Complimenting those with direct industry experience, other team members contribute their experience in the consumer products, pharmaceutical, chemical and computer industries. During their respective careers, members of Corporate Management have worked in a broad array of disciplines, gaining experience in product development, product management, in-field surveying and mapping, corporate finance, business development, marketing and sales, and human resources. The Corporate Management Team, whose members have been with the company for an average of 1 years, has jointly seen through the challenges and accomplishments of the recent past. The team, together with the Board of Directors, has been responsible for achieving a successful turnaround in our operations over the past few years. Corporate Management is assisted in its work by the 12 members of Senior Management, who are located in 21 countries around the world. A Year of Success 9

12 The Way Forwa Leveling and Alignment unit gets new home in Singapore opened a new facility in Singapore where it will headquarter its Leveling and Alignment business unit, part of the Surveying & Engineering division. Innovation has a tradition at Leica Geosystems is synonymous with Swiss precision, quality and reliability, but it also stands for considerable innovative power. The SmartStation is a perfect example. Spatial information goes digital Today, enables spatial information to be captured, stored and accessed in digital form, thus catching the interest of many exciting new partners. 1

13 d solutions transform reality into geometrically accurate drawings Customer care initiative is king customer care initiative gets off the ground this year, leveraging the company s reputation for outstanding customer service to further increase customer loyalty in the future. Streamlining our customers workflow offers scaleable, customizable solutions that enable customers to automate processes throughout the Geospatial Imaging Chain and thereby improve overall efficiency. 11

14 The Road Ahead The spatial information industry is attractive and dynamic. It provides individuals, enterprises and governments with information about objects; it tells us where and what they are, how they look and when they change. Spatial information is no longer the exclusive domain of professionals, such as surveyors, engineers and city planners. Many of us use it everyday in our car navigation systems or for location-based services. The increasing use of spatial information in an expanding array of applications is what makes our business so exciting. And is equipped to play a major role. The changing face of our market So, what are the trends that will fundamentally change our industry? One of them is increasing digitization. The confinement of spatial information to maps and plans is history. The increasing use Today, this information is required of digital information has transformed in digital form, so that it can be stored in databases, processed and the face of the shared over the Internet. This, in industry and emancipated more and turn, makes it available for many new applications, and is one of more users. the reasons why new players such as Google, Microsoft, Oracle and other large IT companies have entered the industry. is working with many of these companies and, again, is well positioned to explore the potential of this new digital world. Another salient feature of today s industry is the burgeoning need for spatial information that is accurate and up to date. For today s consumer, the idea of using an obsolete map in a navigation system is unthinkable. GPS technologies can pinpoint any position on the surface of the earth to an accuracy of a centimeter, while the company s laser technologies can determine the height of a building with millimeter accuracy in seconds. 2-D maps and plans. Apart from an object s location and appearance, many users now need to understand how it changes over time: in other words, the fourth dimension. Private and public enterprises have a real interest in knowing whether the structure of a tunnel or a dam has changed and if it is still safe. Or understanding the development of cities and villages and their impact on the environment. offers the solutions needed for these tasks. Our strategy for shareholder value creates value for its shareholders through profitable internal and external growth. However, apart from continuing to offer the widest range of technologies in the industry for capturing spatial reality, is now increasingly supplying state-of-the-art software to process and model this informationrich data. already supplies solutions for applications such as building infrastructure (roads, railroads, tunnels, bridges and houses) as well as other key segments in land surveying, architecture, mapping, and mining. As we expand in these areas, the role of software will be increasingly important. Strategic partnerships, too, will be essential if we are to offer attractive solutions for entire workflows of targeted segments. In the future, we will continue to focus on promising market segments and dynamic geographic regions that offer profitable, above-average growth. At the same time, we will continue to offer a wide variety of distinctive, customer-oriented services on a global basis. is in an excellent position to capitalize on the emerging trends in our industry. The opportunities are compelling, but require focus to be effective. Our strategy is a measured one, which leverages the strength of our existing portfolio of sensors and software solutions, as well as strategic partnerships and selected acquisitions, to develop and expand into new vertical market segments and service offerings. However, perhaps the most exciting development in our industry is the trend toward the fourth dimension. Consumers increasingly expect 3-D spatial information, preferring it to complicated 12 Annual Report

15 Technologies Pte Ltd, Singapore, officially opened its doors on March 31, 25 pany s range of operations will have a widereaching scope. These include its functions as: The main competence center for research and development into digital and optical leveling and laser products The global headquarters for product engineering and design A global base for driving worldwide sales together with the marketing of digital and optical leveling and laser products The main assembly plant for leveling and alignment products, such as optical levels, digital levels, rotating lasers and pipe lasers An assembly plant for other surveying and engineering products, including Terrestrial Positioning Systems (TPS) and accessories A main sourcing center for the Surveying & Engineering division s activities in Asia A logistics center for the management of worldwide distribution and the customization of products manufactured in Singapore Technologies Pte Ltd: A Company-Owned Base in Singapore After 34 years in the city state, AG finally established a company-owned operation in Singapore. Its name: From its Singapore Technologies Pte base, Technolo- Ltd. Prior to this, and Leica Microsystems (based gies is ideally placed in Wetzlar, Germany) held a 5/5 to serve the Asia interest in a business that Leica Pacific region. Geosystems has now sold off. Leica Geosystems Technologies is part of the Surveying & Engineering division, which in turn belongs to AG. Key activities During the second half of calendar 24, the Surveying & Engineering division was subdivided into four business units, and the Leveling and Alignment unit set up in Singapore. Leveling and Alignment is responsible for the running of Technologies in Singapore and maintains a research and development unit in Grand Rapids, Michigan, USA. The new com- Plant and products The new facility covers a total area of 5, sq. ft. and is located at Singapore s Woodlands East Industrial Estate, headquarters for the Asia Pacific operations of many multinationals. The cost of setting up the plant ran to some SGD 6 million, with an additional SGD 6 million planned for research and development each year. This business unit currently employs some 15 people worldwide, with over 1 of them based in Singapore. There are plans to ramp up the Singapore workforce to 14 over the next two years. Since going onstream, Technologies in Singapore has developed, engineered and manufactured a number of exciting and innovative products for the global market, one of the more notable being the Leica Sprinter, holder of numerous patents and the world s first affordable and easy-to-use electronic level. The Singapore operation is backed up by the Research and Development Unit in Grand Rapids, Michigan, USA. This unit recently developed the Leica Rugby 3 SG Grade Laser and the Rugby 4 DG Dual Grade Laser, both of which are used primarily in the construction industry and manufactured at the new facility in Singapore. The Way Forward 13

16 Leadership through Innovation developments. We also conduct focused research and development activities in other locations, the United States, Singapore and Australia. Our multidisciplinary and multinational R&D team includes mathematicians, physicists, and geoscientists. The company also cultivates a longstanding relationship with the Swiss Federal Institute of Technology as well as many other research centers around the world. The technologies and the competence to get it right has a clearly defined mission: to be the world s leading provider of innovative solutions for capturing, modeling, analyzing and visualizing spatial data. Strategic acquisitions and continuous product development have created a comprehensive technology and product portfolio that gives our company a unique position in our industry. Over the years, the company has developed a number of technologies and software applications that are now core to our products and solutions. These include, among At, others, EDM (Electronic Distance we have a history Measurement), high-precision angle of pushing forward measurement, GPS technology, the boundaries of 3-D laser scanning and point-cloud science and technology for geographical analysis. Far-reaching software expertise, coupled with extensive applications. research and development, are essential if the company is to continue generating innovative, market-leading products. innovation efforts aim at one single goal: to understand and support customer workflow. This has resulted in a product portfolio, a service offering and a comprehensive range of solution packages that are unique to the market. An industry pioneer: where innovation has a tradition is synonymous with Swiss precision, quality and reliability; but it also stands for considerable innovative power. Our corporate culture is defined by innovation and a constant focus on increasing customers productivity. Contributing towards this are some of the world s most highly qualified specialists and multidisciplinary engineers. A core team of experts at our Corporate Technology Center in Heerbrugg fosters and supervises cross-divisional holds more than 1, patents and has a full product pipeline. The number of innovations is at an all-time high, demonstrated by the fact that 5% of our current year s revenue was generated by products less than a year old. has consistently been at the forefront of technological development in our industry. Our development efforts are focused on improving productivity: whether it is enhancing the speed, quality and precision of instruments to increase surveying effectiveness, leveraging new technologies to capture and analyze larger amounts of spatial information, or devising ways of handling large quantities of spatial data effectively. In the 198s, the use of lasers made its way into the industry. In the 199s it was GPS. More recently, laser scanning appeared on the scene. The latest developments include the move to the fourth dimension and the digitization of geographic information. The digital revolution Today s laser scanners capture and present accurate, as-built information that can be processed instantaneously on a PC. Projects are completed faster, output is more precise. Deferring calculations to a later date is simple and unproblematic. Three-dimensional Digitization has expedited and simpli- computer models are created in virtual reality, featuring all the complexities of the real thing. They fied the development process like nothing are comprehensively tested in else before it. simulations, before anyone even reaches for a tool. Computer modeling creates a virtual world that permits developers to move at will within the model and subject it to comprehensive testing and simulation. Creating simulations that show how well a building will blend into its environment, how an aircraft will perform in flight, how a new city overpass will affect the flow of traffic or how 14 Annual Report

17 fauna and flora will develop over time: such tasks, to name just a few examples, are now easier to perform than ever before. Point-cloud generation, aerial photographs, simulations and similar applications in the digital realm represent terabytes of data. is changing to meet its customers needs as more and more clients demand all-inclusive hardware, software and services solutions. Today, some 8% of our company s turnover comes from equipment sales. However, it is estimated that in the next few years, software and related services will account for up to 35% of sales. The company is moving in that direction even now with products like Cyclone, the point-cloud process and data management software, the Leica Photogrammetry Suite for geospatial imaging and SpiderNET, the GPS network controller. The software required to process large amounts of data is created in cooperation with data storage and database specialists, such as Oracle. Realizing a Dream the SmartStation Dr. Craig Hill, Director of Survey Applications, Business Unit Surveying Brisbane Machine Automation Business investments in the Asia Pacific region included a move to new premises at Dutton Park, Brisbane, Australia, in March 25. Following the acquisition of Tritronics and the expansion of activities for machine automation and site-monitoring systems for mining and construction, existing facilities were no longer adequate. The move has also provided an opportunity for Australia-based sales and support personnel who work for other divisions or operating units of to be colocated. The new premises provide a stimulating environment for R&D projects in mine and construction machine automation systems, as well as a demonstration and training center for a wider range of products. Making the SmartStation concept a reality was a long-time dream for Dr. Craig Hill, who began a doctorate in 1993 focusing on the integration of GPS and TPS technologies in a single instrument. Dr. Hill believes the new development, which is simple to use and provides an affordable entry point to RTK GPS technology, will materially improve surveyors efficiency. SmartStation represents a significant opportunity to encourage the use of RTK GPS by professionals who until now have avoided the technology. Furthermore, SmartStation ensures that the System 12 family holds an unequalled market position because TPS12 is the only total station incorporating GPS technology. This unique feature, coupled with TPS12 s many other leading attributes, should continue to be a compelling reason for existing, as well as new, customers to choose Leica Geosystems surveying instruments. For Dr. Hill, who was honored to play a key role in the development of SmartStation, completion of the project meant that a long-held vision had finally become a reality. The Way Forward 15

18 Understanding Customers Needs reference the image to obtain accurate coordinates, measure it to extract specific data, analyze the data to discover relationships between image features, and present the data in a format that will enable good decision making. In the industry, we call this workflow the Geospatial-Imaging Chain. Although different organizations make use of geospatial information in many different ways, as determined by their own specific needs, their ultimate objective is always the same: to have the data required to make betterinformed decisions. In order to fa- Geospatial imaging describes our cilitate the decision-making process, customers workflow and defines some users need maps or topographical models, while for others our approach to the the ideal solution is a fly-through, industry. 3-D scene. And although the creation of these products and services is driven by a wide variety of needs, the genesis of each and every one is the same: geospatial imaging. Empowering customers for greater independence There used to be a significant gap between surveying and mapping, but in recent years, this has become noticeably smaller. is working to create products that fuse technologies from different disciplines within the geospatial industry and achieve data interoperability. Such products empower customers to execute processes themselves which they have traditionally outsourced and enable different systems to share information. The emergence of products that service all the links within the Geospatial- Imaging Chain is significantly bridging the gap between disciplines and, at the same time, simplifying workflows. A clear relationship exists between the many individual activities that constitute a project, from data capture, spatial referencing, measuring and analysis through to presentation. Ideally, each step will flow smoothly into the next. Each component in the process should likewise blend seamlessly with the others in pursuit of the project s objectives: to capture the required image, While the use of geospatial information has grown organically in enterprise environments, there is always a risk of hindrances to productivity, as organizations find themselves in a juggling act, trying to figure out how By bringing different to share data. Data interoperability disciplines closer is a necessity in all project workflows together, we are that employ more than one hardware or software solution. If we are giving customers more freedom. to streamline production, we need to integrate workflows and achieve data interoperability between systems. Only by doing this can we push production to its highest attainable level while maintaining the necessary high standards of accuracy. Wendy Watson, Vice President of Product Management & Marketing, GIS & Mapping division Boosting efficiency and decision making To streamline the geospatial-imaging workflow, organizations can take advantage of scaleable, customizable imaging and software solutions. These tools automate the Geospatial-Imaging Chain from beginning to end, with the result that projects can be completed more efficiently and cost-effectively, and with higher precision. The ensuing improvement in workflow furnishes decision makers with the information they need to reach decisions more quickly and accurately, and makes a significant contribution to overall project success. 16 Annual Report

19 The Customer Care Program recently launched a Customer Care Initiative. In the interview below, Dave Koster, Vice President of Customer Support and Service of the Metrology division, explains what the project is all about and provides a rundown of progress so far. What is the aim of the Customer Care Initiative? Dave Koster: Mainly to increase customer loyalty by boosting after-sales satisfaction. If we can help our customers get the most out of the instruments they buy from us over the product s entire life cycle, they will be more loyal. That in turn helps us to grow and stand out in today s markets. We see it as a major opportunity. Dave Koster, Vice President of Customer Support and Service, Metrology division in new ideas. And there s been a general increase in awareness within the company of the importance of customer care. Who is involved in the program? It s a corporate project involving service and support managers from various divisions as well as a controller and a human resources consultant. But the drive to get things done comes from the divisions. Ultimately, everyone will play a part. What are the key elements of the customer care program? We are targeting our efforts on six key areas: Defining a clear after-sales strategy valid across the entire company. Strengthening service and support management in the various divisions. Creating a clearly defined, comprehensive service and support portfolio. Benefiting from information and knowledge management internally and with key or contract customers. Further expanding the possibilities of remote access services. Finally, developing ideas to enhance customers productivity using our applications expertise. How do customers notice the difference? Next to customer care products that really fit our customers needs, and the faster service we provide, the general attitude towards service has received more attention in various parts of our company. The way we answer the phone or how we offer assistance makes all the difference. Whenever we overachieve our customers expectations, their loyalty will increase. That s a basic mindset, and we re working on making this even better. What else do you have in the pipeline? The next step is to standardize the look and feel of our customer care, so whether the customer owns a DISTO, a GPS instrument or an HDS scanner, the service contracts, support calls and invoices are always the same. We re also looking at further improvement of our customer services, making them as convenient as possible. By giving our customers the after-sales care they deserve, we believe we can really make a difference! Can you tell us how the project has been progressing? We make much better use of synergies between regions and divisions, and have employed a number of customer care professionals to bring The Way Forward 17

20 Customer Needs and Satisfaction Survey 24 Since 1995, has been conducting customer-based research to help us to understand and appreciate customer needs and perceptions and to evaluate our performance. The research also involves noncustomers and employees. The survey provides The results will help insight into the key issues our us build on our success and differen- customers and noncustomers face when selecting a supplier in our tiate ourselves from industry. It also assists us in understanding what their perceptions are our competitors. of as a supplier, their levels of satisfaction and what is important to them. In addition, the survey provides a basis in which we can measure our own performance against that of our competitors. In January 25, we completed the latest survey 1, which researched customers 2, noncustomers 3 and employees perceptions on satisfaction, brand quality and supplier performance. In total, 1,29 interviews were completed across five countries in Europe, Asia and America and five key divisions of. Performance on three key measures The customers and noncustomer groups that participated in the survey included civil structuralengineering surveyors, cadastral surveyors, land surveyors, aerospace and automotive manufacturers, industrial measurement, GIS and spatialmapping specialists, mining and exploration, education institutions and universities, research organizations and architects, builders and realestate professionals. As in the 22 survey, performance in the last two years generally remains ahead of the average for the competition. We recorded a very high KPI score which measured our performance against 15 attributes relating to customer needs. generally performs well on the attributes regarded as most important in driving customers overall satisfaction. We maintain a competitive position on the four most important attributes reliable products, high-quality technical support, responsiveness to requests and prompt provision of repairs/ replacements. We will continue to do everything in our power to meet the needs of our customers. Our customers are generally very satisfied with our performance. On average, recorded a high score for overall satisfaction. Similarly, our customers are also very loyal to us, demonstrating generally very high levels of intention to repurchase from us in the future and a strong willingness to recommend us to professional colleagues. Our brand name continues to be very well respected and a core asset to the company with a very strong brand quality rating Overall satisfaction Likelihood to recommend Likelihood to repurchase The results of the survey will help us to build on our success, to differentiate ourselves from our competitors and to address those areas where we need to improve. They will be incorporated into the development of strategic business, product, marketing and communication plans. All competition average 1 Survey fieldwork was conducted by two independent market research companies on behalf of. Fieldwork was conducted between October 24 and January 25. Twenty-three survey interviews were conducted face-to-face, and 911 by phone. An additional 95 surveys with employees were self-completed via . customers were informed that was the survey sponsor before giving their answers. Noncustomers were informed at the end of the survey. Data provided by respondents requesting anonymity remained completely confidential. The total sample was provided by and the survey data were analyzed for proprietary use. 2 Approximately 7% of those interviewed used products. 3 Approximately 3% of all interviews were conducted with those who do not use any products from. 18 Annual Report

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