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1.4 Consolidated statement of changes in equity

in CHF thousand                                    
   
Share
capital
 
Capital
reserves
 
Own
shares
  Retained
earnings and
net income
  Goodwill
offset
with equity
 
Translation
differences
  Equity before
minority
interests
 
Minority
interests
 
Total
equity
Equity at 1 January 2017   1,960   4,250   –56   228,474   –70,183   –17,903   146,542   13,814   160,356
Dividends paid         –7,836       –7,836   –2,679   –10,515
Reduction of share capital                 –2,401   –2,401
Employee equity incentive plans     –38   –68         –106     –106
Currency translation effects             2,061   2,061   407   2,468
Net income for the period         4,771         4,771   1,625   6,396
Total Equity at 31 December 2017   1,960   4,212   –124   225,409   –70,183   –15,842   145,432   10,766   156,198
 
 
Equity at 1 January 2018   1,960   4,212   –124   225,409   –70,183   –15,842   145,432   10,766   156,198
Disposals of Tritron GmbH and Tritron USA                   –5,169   –5,169
Dividends paid         –7,835       –7,835   –1,591   –9,426
Disposal of goodwill in equity           42,251     42,251     42,251
Disposal of foreign exchange in equity             12,255   12,255     12,255
Employee equity incentive plans     –36   –38         –74     –74
Currency translation effects             –368   –368   1   –367
Net income for the period         –50,067       –50,067   2,902   –47,165
Total Equity at 31 December 2018   1,960   4,176   –162   167,507   –27,932   –3,955   141,594   6,909   148,503

The share capital as at 31 December 2018 and 31 December 2017 consisted of 1,960,000 registered shares with a par value of CHF 1.00 each.

The amount of accumulated non-distributable reserves stands at CHF 13,743,000 (2017: CHF 13,743,000).

In case of Industrial Systems partial disposal of entities and fully reimbursement of loans with equity character granted to consolidated companies, goodwill and currency translation differences are fully or partially written down via the consolidated income statement in accordance with Swiss GAAP FER 30 (17). This has no impact on the consolidated shareholders’ equity as such a write-down would lead, on the one hand, to an increase in the consolidated shareholders’ equity, but the related loss would then represent a decrease of the same amount (‘recycling of goodwill and currency translation differences’).

Of the total amount of goodwill and currency translation differences, CHF 30,373,000 (2017: CHF 84,511,000) relates to the Industrial Systems segment.

The disclosures form an integral part of the financial report.