Notes to the Consolidated Financial Statements

1. Basic information

2. Changes in Group structure

3. Summary of significant accounting policies

4. Risk assessment and management

5. Management of capital

6. Trade accounts receivable

7. Other current assets and current financial assets

8. Inventories

9. Property, plant and equipment

10. Other non-current assets and non-current financial assets

11. Goodwill and intangible assets

12. Short-term debt

13. Other current liabilities and provisions

14. Long-term debt

15. Financial instruments

16. Retirement benefit plans

17. Participation plans

18. Deferred tax assets and liabilities

19. Other non-current liabilities and provisions

20. Contingencies

21. Capital stock and treasury shares

22. Earnings per share

23. Other operating expenses, net

24. Financial result, net

25. Income tax expenses

26. Research and development cost

  2020 2019
  MCHF MCHF
Research and development expenses 75.0 76.6
Capitalised development expenses -4.2 -4.3
Amortisation of capitalised development expenses 5.2 5.0
Research and development cost 76.0 77.3

In 2020, research and development expenses totalling MCHF 75.0 (PY: MCHF 76.6) were included in the items “Personnel expenses”, “Depreciation” and “Other operating expenses, net”. This represents 2.5% of net sales (PY: 2.5%). For one major development project, the capitalisation criteria according to IAS 38.57 were met and expenses of MCHF 4.2 (PY: MCHF 4.3) were capitalised.

27. Free Cashflow

28. Segment reporting

29. Related party transactions

30. Foreign exchange rates

31. Subsequent events

32. Group companies as of 31 December 2020

Services

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