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

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  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).

14. Long-term debt

15. Financial instruments

16. Retirement benefit plans

17. Participation plans

18. Deferred tax assets and liabilities

19. Other non-current liabilities and provisions

20. Contingencies

21. Capital stock and treasury shares

22. Earnings per share

23. Other operating expenses, net

24. Financial result, net

25. Income tax expenses

26. Operating Leasing

27. Research and development cost

28. Cashflow figures

29. Segment reporting

30. Related party transactions

31. Foreign exchange rates

32. Subsequent events

33. Group companies as at 31 December 2018

Services

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