Business transactions with related parties and companies are based on standard commercial contractual forms and conditions. All transactions are included in the 2017 and 2016 consolidated financial statements. There are loans and services from and to related parties and companies. The respective balances from financial receivables are reported separately in these financial statements (see Note 14).

Among the companies controlled by members of the Boards of Directors is the investment firm Be Capital SA, which is controlled by Stéphane Bonvin.

In January 2017, the company Be Capital SA sold its 25% shareholding in Alaïa Invest SA to Investis Properties SA for CHF 0.03 million.

In 2017, the residential properties “Chemin du Marquisat 15” in St-Sulpice and “Chamblandes; PPE” in Pully were sold for CHF 10.6 million to companies controlled by Stéphane Bonvin.

In 2017, as well as in the year 2016, the financial assets of related parties were repaid by CHF 15.0 million and amounted as at 31 December 2017 to CHF 15.0 million (2016: CHF 30.0 million). As at 31 December 2017 the trade receivables from Be Capital SA amounted to CHF 0.5 million (2016: CHF 0.6 million).

In May 2016, 100% of the shares in Ooh networks Sàrl, Lens, were sold to Be Capital SA at carrying value (CHF 0.02 million).

The consolidated income statement contains rental revenue amounting to CHF 1.6 million (2016: CHF 1.1 million) from the letting of three hotels in Fribourg, Rothrist and Sion to companies controlled by Stéphane Bonvin.