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 | |||||