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22Trade accounts receivable

Aging structure of trade accounts receivable

 

 

2022

 

2021

millions of CHF

 

Expected loss rate

 

Gross amount

 

Allowance

 

Net book value

 

Expected loss rate

 

Gross amount

 

Allowance

 

Net book value

Not past due

 

0.9%

 

439.0

 

–3.7

 

435.2

 

0.2%

 

411.0

 

–0.9

 

410.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Past due

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1–30 days

 

0.9%

 

61.6

 

–0.6

 

61.1

 

0.5%

 

54.6

 

–0.3

 

54.3

31–60 days

 

1.5%

 

31.7

 

–0.5

 

31.2

 

3.7%

 

24.1

 

–0.9

 

23.2

61–120 days

 

8.4%

 

20.7

 

–1.7

 

19.0

 

3.5%

 

21.2

 

–0.7

 

20.5

>120 days

 

52.2%

 

81.6

 

–42.6

 

39.0

 

56.7%

 

94.7

 

–53.7

 

41.0

Total trade accounts receivable as of December 31

 

 

 

634.6

 

–49.1

 

585.5

 

 

 

605.7

 

–56.5

 

549.2

Allowance for doubtful trade accounts receivable

millions of CHF

 

2022

 

2021

Balance as of January 1

 

56.5

 

53.7

Derecognized as discontinued operations

 

 

–2.0

Reclassification as held for sale

 

–8.6

 

Additions

 

19.3

 

19.5

Released as no longer required

 

–10.1

 

–8.5

Utilized

 

–7.6

 

–6.7

Currency translation differences

 

–0.3

 

0.6

Balance as of December 31

 

49.1

 

56.5

Approximately 31% (2021: 32%) of the gross amount of trade accounts receivable was past due, and an allowance of CHF 49.1 million (2021: CHF 56.5 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 by country and by division. 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 development of gross domestic product (GDP).

Accounts receivable by geographical region

millions of CHF

 

2022

 

2021

Europe, the Middle East and Africa

 

265.9

 

236.1

– thereof United Kingdom

 

48.0

 

55.3

– thereof Saudi Arabia

 

38.6

 

32.5

– thereof Germany

 

22.8

 

15.8

– thereof Spain

 

21.7

 

20.4

– thereof France

 

23.4

 

12.1

 

 

 

 

 

Americas

 

124.8

 

111.0

– thereof USA

 

75.3

 

70.5

 

 

 

 

 

Asia-Pacific

 

194.8

 

202.0

– thereof China

 

127.5

 

137.7

 

 

 

 

 

Total as of December 31

 

585.5

 

549.2