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| CHF 1,000 | Note | 2022 | 2021 | ||
| Net sales | 4.1 | 309,442 | 100% | 289,455 | 100% |
| Change in work in progress/finished goods | -136 | -8,220 | |||
| Material costs and subcontractors | 4.2 | -104,512 | -87,775 | ||
| Personnel expenses | 4.3 | -129,100 | -121,762 | ||
| Other operating income | 4.4 | 2,043 | 1,833 | ||
| Other operating expenses | 4.4 | -43,372 | -46,394 | ||
| Depreciation of tangible assets | 5.5 | -7,649 | -8,114 | ||
| Amortization of intangible assets | 5.6 | -966 | -1,014 | ||
| Operating result | 25,750 | 8.3% | 18,009 | 6.2% | |
| Financial result | 4.5 | -839 | -850 | ||
| Ordinary result | 24,911 | 8.1% | 17,159 | 5.9% | |
| Non-operating result | 4.6 | 682 | -444 | ||
| Profit before taxes | 25,593 | 8.3% | 16,715 | 5.8% | |
| Income taxes | 4.7 | -1,392 | 295 | ||
| Profit | 24,201 | 7.8% | 17,010 | 5.9% | |
| Net earnings per share – undiluted | 8.2 | 1.47 | 1.04 | ||
| Net earnings per share – diluted | 8.2 | 1.47 | 1.04 |
The accompanying notes form an integral part of the consolidated financial statements.
| CHF 1,000 | Note | 31.12.2022 | 31.12.2021 | ||
| Current assets | |||||
| Cash and cash equivalents | 29,203 | 54,107 | |||
| Current financial assets | 5.1 | 35,158 | 427 | ||
| Accounts receivable | 5.2 | 22,768 | 19,618 | ||
| Inventories | 5.3 | 64,046 | 53,440 | ||
| Net assets from customer projects | 5.4 | 51,571 | 28,642 | ||
| Other current receivables | 3,114 | 4,109 | |||
| Prepaid expenses | 6,326 | 4,303 | |||
| Total current assets | 212,186 | 61.3% | 164,646 | 54.9% | |
| Non-current assets | |||||
| Tangible assets | 5.5 | 88,171 | 87,724 | ||
| Intangible assets | 5.6 | 2,943 | 3,603 | ||
| Investment property | 5.7 | 27,170 | 27,515 | ||
| Deferred tax assets | 5.9 | 15,452 | 16,551 | ||
| Total non-current assets | 133,736 | 38.7% | 135,393 | 45.1% | |
| Total assets | 345,922 | 100.0% | 300,039 | 100.0% | |
| Current liabilities | |||||
| Short-term financial liabilities | 5.10 | 1,776 | 2,109 | ||
| Accounts payable | 25,351 | 16,968 | |||
| Net liabilities from customer projects | 5.4 | 81,333 | 55,049 | ||
| Short-term provisions | 5.11 | 11,610 | 15,198 | ||
| Other current liabilities | 1,917 | 2,716 | |||
| Accrued expenses | 5.12 | 21,266 | 22,183 | ||
| Total current liabilities | 143,253 | 41.4% | 114,223 | 38.1% | |
| Long-term liabilities | |||||
| Long-term financial liabilities | 5.10 | 3,799 | 5,604 | ||
| Long-term provisions | 5.11 | 768 | 750 | ||
| Deferred tax liabilities | 5.9 | 12,080 | 14,392 | ||
| Total long-term liabilities | 16,647 | 4.8% | 20,746 | 6.9% | |
| Shareholders’ equity | |||||
| Share capital | 5.13 | 1,671 | 1,671 | ||
| Treasury shares | 5.13 | -1,654 | -2,601 | ||
| Capital reserves | 94,814 | 96,516 | |||
| Retained earnings | 91,191 | 69,484 | |||
| Total shareholders’ equity | 186,022 | 53.8% | 165,070 | 55.0% | |
| Total liabilities and shareholders’ equity | 345,922 | 100.0% | 300,039 | 100.0% |
The accompanying notes form an integral part of the consolidated financial statements.
| Retained earnings | |||||||
| CHF 1,000 | Note | Share capital | Treasury shares | Capital reserves | Accumulated profits | Translation adjustments | Total share-holders’ equity |
| Balance at 01.01.2021 | 1,671 | -3,212 | 95,595 | 55,654 | -4,189 | 145,519 | |
| Profit 2021 | 17,010 | 17,010 | |||||
| Translation adjustments | 1,008 | 1,008 | |||||
| Change in treasury shares | 5.13 | 611 | -190 | 421 | |||
| Share-based compensation | 5.13 | 1,111 | 1 | 1,112 | |||
| Balance at 31.12.2021 | 1,671 | -2,601 | 96,516 | 72,664 | -3,180 | 165,070 | |
| Profit 2022 | 24,201 | 24,201 | |||||
| Translation adjustments | -524 | -524 | |||||
| Distribution to shareholders | -1,973 | -1,973 | -3,946 | ||||
| Change in treasury shares | 5.13 | 947 | -160 | 787 | |||
| Share-based compensation | 5.13 | 431 | 3 | 434 | |||
| Balance at 31.12.2022 | 1,671 | -1,654 | 94,814 | 94,892 | -3,701 | 186,022 | |
The accompanying notes form an integral part of the consolidated financial statements.
| CHF 1,000 | Note | 2022 | 2021 |
| Cash flow from operating activities | |||
| Profit | 24,201 | 17,010 | |
| Depreciation and amortization | 5.5, 5.6 | 8,615 | 9,128 |
| Revaluation of investment property | 5.7 | 429 | 397 |
| Net gain (-)/loss (+) on sale of non-current assets | 4.4 | -279 | -220 |
| Changes in provisions | 5.11 | -3,374 | -1,231 |
| Changes in deferred taxes | 4.7, 5.9 | -1,366 | -2,029 |
| Share-based compensation | 4.3, 5.13 | 431 | 1,111 |
| Other non-cash items | 1,953 | 862 | |
| Movement in accounts receivable | -3,417 | -604 | |
| Movement in inventories | -10,839 | 2,867 | |
| Movement in net assets/liabilities from customer projects | 2,939 | 23,471 | |
| Movement in accounts payable | 11,060 | -4,146 | |
| Movement in other receivables and prepaid expenses | -1,070 | 2,339 | |
| Movement in other current liabilities and accrued expenses | -1,635 | 1,786 | |
| Cash flow from operating activities | 27,648 | 50,741 | |
| Cash flow from investing activities | |||
| Investments in tangible assets | 5.5 | -10,953 | -19,517 |
| Divestments of tangible assets | 5.5 | 367 | 724 |
| Investments in intangible assets | 5.6 | -337 | -838 |
| Divestments of intangible assets | 5.6 | 0 | 4 |
| Investments in investment property | 5.7 | -84 | 0 |
| Investments in financial assets | 5.1 | -35,000 | -187 |
| Divestments of financial assets | 5.1 | 61 | 2,000 |
| Interest received | 11 | 26 | |
| Cash flow from investing activities | -45,935 | -17,788 | |
| Cash flow from financing activities | |||
| Distribution to shareholders | -3,946 | 0 | |
| Increase (+)/repayment (-) of financial liabilities | -400 | -15,049 | |
| Repayment (-) of finance lease liabilities | -1,683 | -1,890 | |
| Interest paid | -101 | -414 | |
| Cash flow from financing activities | -6,130 | -17,353 | |
| Effect of exchange rate changes on cash and cash equivalents | -487 | 87 | |
| Net cash flow | -24,904 | 15,687 | |
| Increase (+)/decrease (-) of cash and cash equivalents | -24,904 | 15,687 | |
| Cash and cash equivalents at beginning of period | 54,107 | 38,420 | |
| Cash and cash equivalents at end of period | 29,203 | 54,107 |
The accompanying notes form an integral part of the consolidated financial statements.