21Trade accounts receivable
Aging structure of trade accounts receivable
|
|
|
2023 |
|
2022 |
||||||||||||
|
millions of CHF |
|
Expected loss rate |
|
Gross amount |
|
Allowance |
|
Net book value |
|
Expected loss rate |
|
Gross amount |
|
Allowance |
|
Net book value |
|
Not past due |
|
0.1% |
|
393.1 |
|
–0.4 |
|
392.7 |
|
0.9% |
|
439.0 |
|
–3.7 |
|
435.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Past due |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1–30 days |
|
0.7% |
|
61.7 |
|
–0.5 |
|
61.2 |
|
0.9% |
|
61.6 |
|
–0.6 |
|
61.1 |
|
31–60 days |
|
2.6% |
|
29.3 |
|
–0.8 |
|
28.6 |
|
1.5% |
|
31.7 |
|
–0.5 |
|
31.2 |
|
61–120 days |
|
6.4% |
|
24.9 |
|
–1.6 |
|
23.3 |
|
8.4% |
|
20.7 |
|
–1.7 |
|
19.0 |
|
>120 days |
|
53.7% |
|
75.7 |
|
–40.6 |
|
35.0 |
|
52.2% |
|
81.6 |
|
–42.6 |
|
39.0 |
|
Total trade accounts receivable as of December 31 |
|
|
|
584.7 |
|
–43.8 |
|
540.8 |
|
|
|
634.6 |
|
–49.1 |
|
585.5 |
Allowance for doubtful trade accounts receivable
|
millions of CHF |
|
2023 |
|
2022 |
|
Balance as of January 1 |
|
49.1 |
|
56.5 |
|
Reclassification as held for sale |
|
– |
|
–8.6 |
|
Additions |
|
9.0 |
|
19.3 |
|
Released as no longer required |
|
–7.4 |
|
–10.1 |
|
Utilized |
|
–3.8 |
|
–7.6 |
|
Currency translation differences |
|
–3.1 |
|
–0.3 |
|
Balance as of December 31 |
|
43.8 |
|
49.1 |
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 |
|
2023 |
|
2022 |
|
Europe, the Middle East and Africa |
|
250.0 |
|
265.9 |
|
– thereof United Kingdom |
|
52.1 |
|
48.0 |
|
– thereof Saudi Arabia |
|
32.8 |
|
38.6 |
|
– thereof France |
|
24.9 |
|
23.4 |
|
– thereof Spain |
|
20.7 |
|
21.7 |
|
– thereof Germany |
|
18.4 |
|
22.8 |
|
|
|
|
|
|
|
Americas |
|
131.0 |
|
124.8 |
|
– thereof USA |
|
79.7 |
|
75.3 |
|
|
|
|
|
|
|
Asia-Pacific |
|
159.8 |
|
194.8 |
|
– thereof China |
|
102.8 |
|
127.5 |
|
|
|
|
|
|
|
Total as of December 31 |
|
540.8 |
|
585.5 |