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Proposed appropriation of available earnings

PROPOSED APPROPRIATION OF AVAILABLE EARNINGS

In CHF 1,000

31.12.2018

31.12.2017

Profit brought forward from prior year

29,377

28,914

Reclass to reserves for treasury shares

–6,018

Profit for the year

1,433

463

Retained earnings available for Annual General Meeting

24,791

29,377

The Board of Directors proposes to the Annual General Meeting that the balance be carried forward to the new accounts

 

 

Balance to be carried forward

24,791

29,377

Payout from statutory capital contribution reserve

The Board of Directors proposes to the Annual General Meeting an appropriation from statutory capital contribution reserves to voluntary retained earnings and a payout of CHF 2.35 per registered share amounting to CHF 30,080,0001).

In CHF 1,000

2018

2017

Statutory capital contribution reserves before distribution

82,459

112,619

Reclass to other capital reserves 2)

–98

Appropriation from statutory capital reserves to voluntary retained earnings

–30,080

–30,062

Statutory capital contribution reserves after distribution

52,379

82,459

 

 

 

Distribution 1)

 

 

Gross distribution per registered share: CHF 2.35 (2017: CHF 2.35)

 

 

on 12,702,616 shares entitled to distribution at 31 December 2018

29,851

30,062

on 97,384 treasury shares set aside for the employee share plan at 31 December 2018

229

 

Less withholding tax

 

Total distribution

30,080

30,062

1) The Company will waive its entitlement to such payments from the statutory capital contribution reserves for the treasury shares held on the distribution date which are reserved for use in its employee share plan. The amount due on these shares will be taken to the statutory capital contribution reserves.

2) The capital contribution reserve confirmed by Federal Tax Administration in 2017 amounted CHF 142,601,180.50 as of 1 January 2017.