26 Other current and accrued liabilities
|
millions of CHF |
|
2024 |
|
2023 |
|
|
Outstanding dividend payments |
|
16.3 |
|
10.9 |
|
|
Liability from sale of investments in subsidiaries |
|
11.7 |
|
– |
|
|
Taxes (VAT, withholding tax) |
|
1.6 |
|
1.9 |
|
|
Derivative financial instruments |
|
3.2 |
|
0.7 |
|
|
Current payables from purchase of a subsidiary |
|
– |
|
4.4 |
|
|
Other current liabilities |
|
2.0 |
|
2.4 |
|
|
Total other current liabilities as of December 31 |
|
34.8 |
|
20.2 |
|
|
|
|
|
|
|
|
|
Contract-related costs |
|
1.4 |
|
1.1 |
|
|
Salaries, wages and bonuses |
|
12.4 |
|
8.5 |
|
|
Vacation and overtime claims |
|
1.9 |
|
2.5 |
|
|
Accrued interest expenses |
|
3.1 |
|
3.7 |
|
|
Accrued expenses and deferred income |
|
15.6 |
|
15.1 |
|
|
Total accrued liabilities as of December 31 |
|
34.3 |
|
31.0 |
|
|
|
|
|
|
|
|
|
Total other current and accrued liabilities as of December 31 |
|
69.1 |
|
51.2 |
|
The unpaid dividends amounted to CHF 16.3 million (2023: CHF 10.9 million). For more details, refer to note 20.
In 2023, the group sold non-controlling interests in investments in subsidiaries without loss of control. The group has a call option to purchase until March 31, 2026, and the buyers have a put option to sell any time between March 31, 2025, and March 31, 2026, all non-controlling interests. Since the call and put option represent fixed price options, the group recognized an economic interest of 100% and recorded 0% for the non-controlling interests. The group recognized a liability based on the discounted put exercise price in equity in the amount of CHF 2.0 million and in other non-current liabilities in the amount of CHF 11.4 million. Changes in the put exercise price and interest accretion over the contract period are recognized in equity. During 2024, the group reclassed the liability from non-current to current. As of December 31, 2024, the liability from the sale of investments in subsidiaries amounted to CHF 11.7 million.
Further details regarding derivative financial instruments are disclosed in note 27.
In 2024, the group exercised its fixed-price forward and acquired an additional 10% equity interest in Guangdong Qiaoyi Plastic Co. Ltd. ("Qiaoyi") for CHF 4.5 million, increasing its total ownership to 80%. In 2023, the current payables from the purchase of a subsidiary, amounting to CHF 4.4 million, were recognized in other current and accrued liabilities.