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20Inventories

millions of CHF

 

2022

 

2021

Raw materials, supplies and consumables

 

192.3

 

186.0

Work in progress

 

250.3

 

218.3

Finished products and trade merchandise

 

79.9

 

71.3

Total inventories as of December 31

 

522.4

 

475.6

In 2022, the group recognized write-downs of CHF 49.8 million (2021: CHF 16.5 million) in the income statement, of which CHF 31.4 million relates to write-downs in connection with the Russian business classified as held for sale. The accumulated write-downs on inventories amounted to CHF 79.9 million as of December 31, 2022 (2021: CHF 85.4 million). Material expenses in 2022 amounted to CHF 1’192.1 million (2021: CHF 1’110.1 million).