19Inventories
|
millions of CHF |
|
2023 |
|
2022 |
|
Raw materials, supplies and consumables |
|
166.9 |
|
192.3 |
|
Work in progress |
|
255.4 |
|
250.3 |
|
Finished products and trade merchandise |
|
72.8 |
|
79.9 |
|
Total inventories as of December 31 |
|
495.1 |
|
522.4 |
In 2023, the group recognized write-downs of CHF 16.6 million in the income statement. In 2022, the total write downs amounted to CHF 49.8 million, of which CHF 31.4 million were recorded in connection with the Russian business that was classified as 'held for sale' in that year. The accumulated write-downs on inventories amounted to CHF 72.7 million as of December 31, 2023 (2022: CHF 79.9 million). Material expenses in 2023 amounted to CHF 1’239.4 million (2022: CHF 1’192.1 million).