As at 31 December 2025, credit lines with Swiss banks (without securities) totalled CHF 600 million (31.12.2024: CHF 600 million), of which CHF 386 million was used for current bank loans as at 31 December 2025 (31.12.2024: CHF 281 million).

In 2025, a CHF 100 million bond, maturing on 14 February 2028, was issued with a coupon of 1.10%. The proceeds were used to partially refinance the CHF 115 million bond expiring on the same day.

In 2024, a CHF 100 million bond, maturing on 16 October 2026, with a coupon of 1.45%, was issued on 16 August 2024.

Further information on the financial liabilities is published in Note 3.2 of the consolidated financial statements in this report.