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3.23 Provisions
Provisions are included for personnel, restructuring, warranties, commissions, unfinished projects and for the loss-free valuation of orders.
Personnel provisions mainly comprise entitlements to long-service awards for employees. The prior year’s provisions for early retirement relating to the Security Printing Division were used in full.
In the remaining restructuring provisions, provisions for a tax charge were reversed in the Industrial Systems segment due to a building sale in the United States. Provisions were used for location optimisation within book retailing and the completion of restructuring in the Industrial Systems segment. This leaves mainly the provisions for the change of location of the Industrial Systems Division related to the restructuring.
Other provisions are largely related to the costs for the post-processing of a production order. This provision is offset by prepayments, which represent receivables from a sub-supplier. The resulting costs were recognised under cost of materials.
Warranty provisions are created in connection with the services rendered and they are based on local legislation or contractual agreements. The provisions are calculated on the basis of empirical figures.
Movement in provisions 2020
| in CHF thousand | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Personnel |
Provisions for restructuring |
Warranty provisions |
Other provisions |
Total |
||||||
| At 1 January | 1,502 | 2,815 | 90 | 334 | 4,741 | |||||
| Additions (charged to income statement) | 135 | 90 | 71 | 7,449 | 7,745 | |||||
| Reversals (charged to income statement) | –15 | –563 | –48 | – | –626 | |||||
| Utilisation during the year | –1,170 | –1,004 | –41 | –483 | –2,698 | |||||
| Exchange differences | – | –45 | – | – | –45 | |||||
| At 31 December | 452 | 1,293 | 72 | 7,300 | 9,117 | |||||
| Provisions maturing within 12 months | 166 | 211 | 72 | 7,300 | 7,749 | |||||
| Provisions maturing over 1 year | 286 | 1,082 | – | – | 1,368 | |||||
Movement in provisions 2019
| in CHF thousand | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Personnel |
Provisions for restructuring |
Warranty provisions |
Other provisions |
Total |
||||||
| At 1 January | 470 | 6,086 | 80 | 373 | 7,009 | |||||
| Additions (charged to income statement) | 1,135 | 908 | 92 | 334 | 2,469 | |||||
| Reversals (charged to income statement) | – | –2,977 | –34 | –329 | –3,340 | |||||
| Utilisation during the year | –103 | –1,132 | –45 | –44 | –1,324 | |||||
| Exchange differences | – | –70 | –3 | – | –73 | |||||
| At 31 December | 1,502 | 2,815 | 90 | 334 | 4,741 | |||||
| Provisions maturing within 12 months | 1,206 | 1,444 | 90 | 334 | 3,074 | |||||
| Provisions maturing over 1 year | 296 | 1,371 | – | – | 1,667 | |||||