Home 6. Consolidated Financial Statements
| CHF 1,000 | Note | 2024 | 2023 | ||
| Net sales | 4 | 374,064 | 100% | 370,241 | 100% |
| Change in inventory of finished and unfinished goods | -9,168 | -10,039 | |||
| Material costs and subcontractors | 5.1 | -118,450 | -121,839 | ||
| Personnel expenses | 5.2 | -152,881 | -144,595 | ||
| Other operating income | 5.3 | 4,747 | 1,679 | ||
| Other operating expenses | 5.3 | -56,974 | -53,050 | ||
| Depreciation of tangible assets | 6.5 | -8,527 | -8,097 | ||
| Amortization of intangible assets | 6.6 | -870 | -868 | ||
| Operating profit | 31,941 | 8.5% | 33,432 | 9% | |
| Financial result | 5.4 | -216 | -1,288 | ||
| Ordinary profit | 31,725 | 8.5% | 32,144 | 8.7% | |
| Non-operating result | 5.5 | -760 | 1,824 | ||
| Profit before taxes | 30,965 | 8.3% | 33,968 | 9.2% | |
| Income taxes | 5.6 | -3,089 | -5,179 | ||
| Net profit | 27,876 | 7.5% | 28,789 | 7.8% | |
| Earnings per share (basic and diluted) | 8.2 | 1.68 | 1.73 |
The accompanying notes form an integral part of the consolidated financial statements.
| CHF 1,000 | Note | 31.12.2024 | 31.12.2023 | ||
| Current assets | |||||
| Cash and cash equivalents | 113,289 | 33,960 | |||
| Current financial assets | 6.1 | 10,000 | 50,109 | ||
| Accounts receivable | 6.2 | 28,892 | 28,682 | ||
| Other receivables | 5,299 | 4,493 | |||
| Net assets from customer projects | 6.3 | 46,354 | 65,736 | ||
| Inventories | 6.4 | 73,457 | 81,514 | ||
| Prepayments and accrued income | 6,315 | 6,963 | |||
| Total current assets | 283,606 | 71.1% | 271,457 | 72.5% | |
| Non-current assets | |||||
| Tangible assets | 6.5 | 99,952 | 87,403 | ||
| Intangible assets | 6.6 | 3,487 | 2,528 | ||
| Investment property | 6.7 | 246 | 940 | ||
| Deferred tax assets | 6.9 | 11,826 | 11,882 | ||
| Total non-current assets | 115,511 | 28.9% | 102,753 | 72.5% | |
| Total assets | 399,117 | 100.0% | 374,210 | 100.0% | |
| Current liabilities | |||||
| Short-term financial liabilities | 6.10 | 1,009 | 1,243 | ||
| Accounts payable | 25,963 | 25,130 | |||
| Other payables | 4,700 | 3,271 | |||
| Net liabilities from customer projects | 6.3 | 92,144 | 90,335 | ||
| Accrued expenses | 6.11 | 25,120 | 22,751 | ||
| Current provisions | 6.12 | 12,475 | 14,294 | ||
| Total current liabilities | 161,411 | 40.4% | 157,024 | 42.0% | |
| Non-current liabilities | |||||
| Long-term financial liabilities | 6.10 | 2,058 | 2,550 | ||
| Non-current provisions | 6.12 | 709 | 359 | ||
| Deferred tax liabilities | 6.9 | 8,753 | 10,472 | ||
| Total non-current liabilities | 11,520 | 2.9% | 13,381 | 3.5% | |
| Total liabilities | 172,931 | 43.3% | 170,40 | 45.5% | |
| Shareholders’ equity | |||||
| Share capital | 6.13 | 1,671 | 1,671 | ||
| Treasury shares | 6.13 | -868 | -2,012 | ||
| Capital reserves | 87,634 | 92,466 | |||
| Retained earnings | 137,749 | 111,680 | |||
| Total shareholders’ equity | 226,186 | 56.7% | 203,805 | 54.5% | |
| Total liabilities and shareholders’ equity | 399,117 | 100.0% | 374,210 | 100.0% |
The accompanying notes form an integral part of the consolidated financial statements.
| CHF 1,000 | Note | 2024 | 2023 |
| Cash flow from operating activities | |||
| Net profit | 27,876 | 28,789 | |
| Depreciation and amortization | 6.5, 6.6 | 9,397 | 8,965 |
| Revaluation of investment property | 6.7 | 694 | 125 |
| Net gain / loss on sale of non-current assets | 5.3, 5.5 | 203 | -2,288 |
| Change in provisions | 6.12 | -1,748 | 2,480 |
| Change in deferred taxes | 6.9 | -1,356 | 1,246 |
| Share-based compensation | 5.2, 6.13 | -1,600 | 599 |
| Other non-cash items | 1,499 | 2,862 | |
| Change in accounts receivable | 518 | -6,916 | |
| Change in inventories | 9,043 | -19,139 | |
| Change in net assets/liabilities from customer projects | 23,027 | -7,595 | |
| Change in accounts payable | -1,623 | 82 | |
| Change in other receivables, prepayments and accrued income | 97 | -2,186 | |
| Change in other payables and accrued expenses | 3,392 | 3,450 | |
| Cash flow from operating activities | 69,419 | 10,474 | |
| Cash flow from investing activities | |||
| Purchase of tangible assets | 6.5 | -19,451 | -8,916 |
| Proceeds from sale of tangible assets | 5.3, 6.5 | 126 | 161 |
| Proceeds from government grants for tangible assets | 6.5 | 583 | 393 |
| Purchase of intangible assets | 6.6 | -1,812 | -484 |
| Investments in investment property | 6.7 | 0 | -63 |
| Proceeds from sale of investment property | 5.5, 6.7 | 0 | 28,353 |
| Investments in financial assets | 6.1 | 0 | -15,059 |
| Divestments of financial assets | 6.1 | 40,059 | 126 |
| Acquisition of a consolidated company, net of cash acquired | 2.1 | -129 | 0 |
| Interests received | 935 | 1,014 | |
| Cash flow from investing activities | 20,311 | 5,525 | |
| Cash flow from financing activities | |||
| Purchase of treasury shares | 6.13 | -654 | -1,618 |
| Sale of treasury shares | 6.13 | 0 | 119 |
| Distribution to shareholders | -8,274 | -6,616 | |
| Repayment of financial liabilities | 6.10 | -1,069 | -400 |
| Repayment of finance lease liabilities | 6.10 | -845 | -1,368 |
| Interests paid | -107 | -81 | |
| Cash flow from financing activities | -10,949 | -9,964 | |
| Net change in cash and cash equivalents | 78,781 | 6,035 | |
| Cash and cash equivalents at beginning of period | 33,960 | 29,203 | |
| Currency translation effect on cash and cash equivalents | 548 | -1,278 | |
| Cash and cash equivalents at end of period | 113,289 | 33,960 |
The accompanying notes form an integral part of the consolidated financial statements.
| Retained earnings | |||||||
| CHF 1,000 | Note | Share capital | Treasury shares | Capital reserves | Accumulated profits | Translation adjustments | Total share-holders’ equity |
| Balance at 01.01.2023 | 1,671 | -1,654 | 94,814 | 94,892 | -3,701 | 186,022 | |
| Net Profit 2023 | 28,789 | 28,789 | |||||
| Currency translation adjustments | -4,993 | -4,993 | |||||
| Distribution to shareholders | -3,308 | -3,308 | -6,616 | ||||
| Change in treasury shares | 6.13 | -358 | 361 | 3 | |||
| Share-based compensation | 6.13 | 599 | 3 | 600 | |||
| Balance at 31.12.2023 | 1,671 | -2,012 | 92,466 | 120,373 | -8,693 | 203,805 | |
| Net profit 2024 | 27,876 | 27,876 | |||||
| Currency translation adjustments | 2,366 | 2,366 | |||||
| Distribution to shareholders | -4,137 | -4,137 | -8,274 | ||||
| Change in treasury shares | 6.13 | 1,144 | -1,798 | -654 | |||
| Share-based compensation | 6.13 | 1,103 | -2 | 1,101 | |||
| Offset goodwill | 2.1 | -34 | -34 | ||||
| Balance at 31.12.2024 | 1,671 | -868 | 87,634 | 144,078 | -6,329 | 226,186 | |
The accompanying notes form an integral part of the consolidated financial statements.