8 Equity

Share capital

The share capital amounts to CHF 412’623.70, made up of 41’262’370 shares with dividend entitlement and a par value of CHF 0.01. All shares are fully paid in and registered.

Retained earnings

The retained earnings include prior years’ undistributed income of consolidated companies, transactions recognized in relation to share-based payment plans, contributions to the Sulzer group and all remeasurements for defined benefit plans.

Treasury shares

For the period ended June 30, 2023, the group acquired in total 48'750 treasury shares (half year 2022: 198’149 shares) to cover its existing exposure from share-based payment programs for consideration of CHF 1.0 million (half year 2022: CHF 6.1 million). During the first six months in 2023, the group allocated 10'569 shares (half year 2022: 0 shares) to share plan participants for a total value of CHF 0.4 million (half year 2022: CHF 0.0 million). The total number of shares held by the group as of June 30, 2023, amounted to 385'717 treasury shares (December 31, 2022: 347’536 shares).

Cash flow hedge reserve

The hedging reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging instruments where the hedged transaction has not yet occurred. Amounts are reclassified to profit or loss when the associated hedged transaction affects the income statement.

Currency translation reserve

The currency translation reserve comprises all foreign exchange differences arising on the translation of the financial statements of consolidated entities the currency of which differs from the reporting currency of the group.

Dividends

On April 28, 2023, the Annual General Meeting approved an ordinary dividend of CHF 0.50 per share to be paid out of reserves (2022: CHF 0.50 per share). The dividend was paid to shareholders on May 5, 2023. The total amount of the dividend to shareholders of medmix Ltd is CHF 20.5 million (half-year 2022: CHF 20.5 million), thereof paid dividends of CHF 7.9 million (half-year 2022: CHF 15.0 million), outstanding withholding taxes of CHF 7.2 million (2022: CHF 0.0 million) and unpaid dividends of CHF 5.5 million (2022: CHF 5.5 million). The dividend payments to the group’s shareholder, Tiwel Holding AG, could still not be transferred as a result of US sanctions. The total outstanding dividend payments of CHF 10.9 million (2022: CHF 5.5 million) are reflected in the balance sheet position “Other current and accrued liabilitiesˮ (note 10).

Contribution to the Sulzer group

For the half year 2023, the contribution to the Sulzer group of CHF –0.3 million is related to the vested Sulzer shares under the existing Sulzer share plans (half-year 2022: CHF –0.4 million).