Notes to the Consolidated Financial Statements
1. Basic information and principles of the report
2. Changes in Group structure
3. Summary of significant accounting policies
4. Risk assessment and management
5. Management of capital
6. Trade accounts receivable
7. Other current assets and current financial assets
8. Inventories
9. Property, plant and equipment
10. Other non-current assets and non-current financial assets
11. Goodwill and intangible assets
12. Short-term debt
13. Other current liabilities and provisions
| 2018 | 2017 | |
|---|---|---|
| MCHF | MCHF | |
| Compensation-related liabilities | 83.5 | 88.5 |
| Customer-related liabilities | 121.7 | 107.8 |
| Value added tax payables | 31.2 | 44.5 |
| Short-term derivative financial instruments (see Note 15) | 0.0 | 1.1 |
| Short-term interest payables | 2.5 | 3.8 |
| Other current liabilities | 42.8 | 40.7 |
| Total other current liabilities | 281.7 | 286.4 |
The outstanding customer bonuses are offset against the outstanding trade accounts receivable (Note 6).
If the balance of outstanding trade receivables as at 31 December is smaller than the outstanding
customer bonuses, these are reported under "Customer-related liabilities". The position “Other
current liabilities” mainly includes accruals for services and deliveries not invoiced.
| 2018 | 2017 | |
|---|---|---|
| MCHF | MCHF | |
| Other current provisions | 5.8 | 16.4 |
| Provisions for restructuring | 20.6 | 36.3 |
| Total current provisions | 26.4 | 52.7 |
The movements of other current provisions for 2018 and 2017 are shown in the following table:
| 2018 | 2017 | |
|---|---|---|
| MCHF | MCHF | |
| Other current provisions | ||
| 1 January | 16.4 | 25.8 |
| Additions | 3.9 | 4.6 |
| Used | -3.6 | -11.9 |
| Reversed | -10.2 | -2.2 |
| Translation differences | -0.7 | 0.1 |
| 31 December | 5.8 | 16.4 |
The movements of provisions for restructuring for 2018 and 2017 are shown in the following table:
| 2018 | 2017 | |
|---|---|---|
| MCHF | MCHF | |
| Provisions for restructuring | ||
| 1 January | 36.3 | 11.9 |
| Additions | 0.4 | 50.9 |
| Transfers | 6.0 | -19.6 |
| Used | -17.4 | -6.6 |
| Reversed | -3.7 | -2.5 |
| Translation differences | -1.0 | 2.2 |
| 31 December | 20.6 | 36.3 |
In 2017, ceramic production at the plant in Digoin (F) was discontinued and the plant in La Villeneuve-au-Chêne (F) was completely closed. As at 30 June 2017, a restructuring provision was recognised to cover the cost of these measures (MCHF 44.0). The cashout (“Used”) from this provision amounted to MCHF 12.5 in 2017 and MCHF 15.7 in 2018 (see also Note 19).