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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