31 Transactions with members of the Board of Directors, Executive Committee and related parties

Key management compensation

As of December 31, 2024, there are no outstanding loans with members of the Board of Directors or the Executive Committee. No shares have been granted to members of the Board of Directors, the Executive Committee, or related persons, with the exception of shares granted in connection with equity-settled plans and service awards.

Transactions and balances with associates and joint ventures

In 2024, the group recorded transactions and balances with associates and joint ventures. Sales with associates amounted to zero (2023: CHF 0.5 million), other operating income amounted to CHF 0.3 million (2023: zero), the operating expenses amounted to CHF 0.2 million (2023: CHF 1.5 million), and as of December 31, 2024, trade receivables with associates amounted to CHF 0.3 million (2023: zero), and trade payables amounted to CHF 0.0 million (2023: zero). The operating expenses with joint ventures amounted to CHF 4.3 million (2023: zero), and interest income to CHF 0.1 million (2023: zero). As of December 31, 2024, loan receivables amounted to CHF 1.7 million (2023: CHF 2.0 million), other receivables amounted to CHF 0.1 million (2023: zero), and payables amounted to CHF 0.6 million (2023: CHF 0.1 million). See note 16 for details on the investments in associates and joint ventures.

Transactions and balances with other related parties

In 2024, open payables with related parties amounted to CHF 408.4 million (2023: CHF 365.4 million), of which CHF 90.4 million (2023: CHF 88.1 million) related to the purchase of treasury shares (see note 27) and CHF 318.0 million (2023: CHF 277.2 million) related to outstanding dividend payments (see note 23 and note 27).

All related party transactions are priced on an arm’s-length basis.