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

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

  2019 2018
Outbound freight cost and duties 111.3 111.2
Energy and maintenance expenses 130.5 132.7
Marketing expenses 118.2 112.1
Administration expenses 75.4 73.2
Other operating expenses1 149.5 179.5
Other operating income -17.9 -33.2
Total other operating expenses, net 567.0 575.5
1 This item includes expenses for short-term leases of MCHF 5.2 and expenses for minor-value assets of MCHF 0.8 for 2019. For information regarding lease expenses 2018 see Note 26.

“Other operating expenses” includes, among other items, commissions, expenses for short-term leases and leases for minor-value assets, consulting expenses as well as warranty cost. “Other operating income” includes, among other items, insurance benefits received, rental income, gains from sales of fixed assets and subsidiaries and catering revenues.

In 2018, “Other operating expenses” included the costs of a warranty claim that is almost completely covered by insurance. The corresponding insurance benefit was included in “Other operating income”.

In 2019, costs of MCHF 17.5 (PY: MCHF 14.7) were capitalised as property, plant and equipment or intangible assets. This includes, in particular, tools, mould and assembly lines that are part of the production process, as well as capitalised product development cost. The amount was deducted pro-rata from “Personnel expenses”, “Cost of materials” and “Other operating expenses, net”.

24. Financial result, net

25. Income tax expenses

26. Leases

27. Research and development cost

28. Free Cashflow

29. Segment reporting

30. Related party transactions

31. Foreign exchange rates

32. Subsequent events

33. Group companies as of 31 December 2019


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