Notes to the Consolidated Financial Statements

1. Basic information

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

  2020 2019
  MCHF MCHF
Compensation-related liabilities 100.3 98.2
Customer-related liabilities 134.6 125.4
Value added tax payables 38.6 34.7
Short-term derivative financial instruments (see Note 15) 0.2 0.1
Short-term interest payables 1.2 2.8
Other current liabilities 49.7 43.9
Total other current liabilities 324.6 305.1

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 included accruals for services and deliveries not yet invoiced.

  2020 2019
  MCHF MCHF
Other current provisions 5.2 7.6
Provisions for restructuring 1.5 4.7
Total current provisions 6.7 12.3

The movements of other current provisions for 2020 and 2019 are shown in the following table:

  2020 2019
  MCHF MCHF
Other current provisions    
1 January 7.6 5.8
Additions 4.2 5.2
Transfers -1.4 0.0
Used -4.7 -3.1
Reversed -0.4 -0.2
Translation differences -0.1 -0.1
31 December 5.2 7.6

The movements of provisions for restructuring for 2020 and 2019 are shown in the following table:

  2020 2019
  MCHF MCHF
Provisions for restructuring    
1 January 4.7 20.6
Additions 2.2 0.4
Transfers -1.3 1.0
Used -3.4 -13.9
Reversed -0.6 -3.1
Translation differences -0.1 -0.3
31 December 1.5 4.7

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 in 2017 amounted to MCHF 12.5, in 2018 to MCHF 15.7, in 2019 to MCHF 10.6 and in 2020 to MCHF 3.2 (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. Research and development cost

27. Free Cashflow

28. Segment reporting

29. Related party transactions

30. Foreign exchange rates

31. Subsequent events

32. Group companies as of 31 December 2020

Services

Download center
Mark page
Graphics collection
Print
Forward content
Compare to 2019
Help