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4.24 Provisions

Provisions are included for personnel, restructuring, warranties, commissions, unfinished projects and for the loss-free valuation of orders.

In the 2016 financial year, the provisions relating to personnel could be adjusted and released. The remaining provisions for personnel primarily concern employees’ entitlements to long-service awards.

The Book Retailing division created restructuring provisions relating to the relocation of three branches. The changes of location will be completed by the middle of 2018.

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.

The other provisions concern primarily production orders relating to Security Printing.

movement in provisions 2017

in CHF thousand                    
   
Personnel
  Provisions for
restructuring
  Warranty
provisions
  Other
provisions
 
Total
At 1 January   491   28   307   656   1,482
Additions (charged to income statement)   77   650   284   545   1,556
Reversals (charged to income statement)   –107   –28   –49   –835   –1,019
Utilisation during the year   –79   –176   –270   –191   –716
Exchange differences       27     27
At 31 December   382   474   299   175   1,330
 
Provisions maturing within 12 months   77   474   299   175   1,025
Provisions maturing over 1 year   305         305

movement in provisions 2016

in CHF thousand                    
   
Personnel
  Provisions for
restructuring
  Warranty
provisions
  Other
provisions
 
Total
At 1 January   1,163   205   340   729   2,437
Additions (charged to income statement)   146   68   312   623   1,149
Reversals (charged to income statement)   –426   –245   –172   –696   –1,539
Utilisation during the year   –392     –170     –562
Exchange differences       –3     –3
At 31 December   491   28   307   656   1,482
 
Provisions maturing within 12 months   248   28   307   656   1,239
Provisions maturing over 1 year   243         243