29 Transactions with members of the Board of Directors, Executive Committee and related parties
Key management compensation
|
|
|
2021 |
|
2020 |
||||||||||||
|
thousands of CHF |
|
Short-term benefits |
|
Equity-based compensation |
|
Pension and social security contributions |
|
Total |
|
Short-term benefits |
|
Equity-based compensation |
|
Pension and social security contributions |
|
Total |
|
Board of Directors |
|
86 |
|
161 |
|
22 |
|
269 |
|
– |
|
– |
|
– |
|
– |
|
Executive Committee |
|
1’903 |
|
612 |
|
524 |
|
3’039 |
|
2’183 |
|
554 |
|
570 |
|
3’307 |
Prior to the spin-off on September 20, 2021, the group did not have a parent entity and therefore no Board of Directors. As of December 31, 2021, there were no outstanding loans with members of the Board of Directors or the Executive Committee. No shares were granted to members of the Board of Directors, the Executive Committee, or related persons.
Related parties
Income statement impact of transactions with related parties
|
millions of CHF |
|
2021 |
|
2020 |
|
Revenue |
|
0.0 |
|
0.1 |
|
Gross profit |
|
0.0 |
|
0.1 |
|
Selling and administrative expenses |
|
–9.6 |
|
–11.8 |
|
Research and development expenses |
|
– |
|
0.1 |
|
Operating income (EBIT) |
|
–9.5 |
|
–11.6 |
|
Interest and securities income |
|
– |
|
0.2 |
|
Interest expenses |
|
–5.3 |
|
–6.6 |
|
Net income |
|
–14.8 |
|
–18.0 |
Balance sheet impact of transactions with related parties
|
millions of CHF |
|
2021 |
|
2020 |
|
Current assets |
|
|
|
|
|
Trade accounts receivable |
|
0.0 |
|
0.2 |
|
Other current receivables and prepaid expenses |
|
– |
|
4.1 |
|
Current financial assets |
|
– |
|
31.4 |
|
Total current assets |
|
0.0 |
|
35.7 |
|
|
|
|
|
|
|
Total assets as of December 31 |
|
0.0 |
|
35.7 |
|
|
|
|
|
|
|
Non-current liabilities |
|
|
|
|
|
Non-current borrowings |
|
2.6 |
|
236.8 |
|
Total non-current liabilities |
|
2.6 |
|
236.8 |
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
Current borrowings |
|
1.3 |
|
37.5 |
|
Trade accounts payable |
|
1.8 |
|
0.2 |
|
Other current and accrued liabilities |
|
0.0 |
|
0.3 |
|
Total current liabilities |
|
3.1 |
|
38.1 |
|
|
|
|
|
|
|
Total liabilities as of December 31 |
|
5.7 |
|
274.9 |
Transactions with related parties are mainly with the Sulzer group and comprise primarily charges for corporate support functions, centrally procured indirect spend utilized by the group, as well as borrowings and related interest expenses. All related party transactions are priced on an arm’s-length basis.