17 Trade accounts receivable

Aging structure of trade accounts receivable

	2024
millions of CHF	Expected loss rate	Gross amount	Allowance	Net book value
Not past due	0.0%	35.9	–0.0	35.9

Past due
1–30 days	0.8%	5.6	–0.0	5.5
31–60 days	0.0%	1.0	–	1.0
61–120 days	2.0%	0.4	–0.0	0.4
>120 days	39.0%	1.4	–0.5	0.8
Total trade accounts receivable as of December 31		44.4	–0.6	43.8

	2023
millions of CHF	Expected loss rate	Gross amount		Allowance	Net book value
Not past due	0.0%	42.5		–	42.5

Past due			13’050.5
1–30 days	0.0%	9.4	0.0	–0.0	9.4
31–60 days	2.2%	1.7		–0.0	1.6
61–120 days	0.1%	0.9		–0.0	0.9
>120 days	34.7%	3.6		–1.3	2.3
Total trade accounts receivable as of December 31		58.1		–1.3	56.8

Allowance for doubtful trade accounts receivable

millions of CHF	2024	2023
Balance as of January 1	1.3	2.3
Additions	0.3	0.3
Released as no longer required	–0.8	–0.6
Utilized	–0.1	–0.7
Currency translation differences	0.0	–0.0
Balance as of December 31	0.6	1.3

Approximately 19% (2023: 27%) of the gross amount of trade accounts receivable was past due and an allowance of CHF 0.6 million (2023: CHF 1.3 million) was recorded. The recoverability of trade accounts receivable is regularly reviewed, and the credit quality of new customers is thoroughly assessed. Due to the large and heterogeneous customer base, the credit risk from individual customers of the group is limited. The allowance for doubtful trade accounts receivable is based on expected credit losses. These are based on historical observed default rates over the expected life of the trade receivables and are adjusted for forward-looking information such as gross domestic product (GDP) forecasts.

Trade accounts receivable by geographical location

millions of CHF	2024	2023
Europe, the Middle East and Africa	26.0	38.7
– thereof Germany	12.3	21.3
– thereof Switzerland	9.9	13.6

Americas	14.3	14.6

Asia-Pacific	3.5	3.4

Total as of December 31	43.8	56.8