14 Trade accounts receivable
CHF 1,000 | 2012 | 2013 |
|---|---|---|
Trade accounts receivable | ||
Denominated in CHF | 18,288 | 19,684 |
Denominated in EUR | 22,046 | 20,538 |
Denominated in GBP | 1,095 | 1,437 |
Denominated in USD | 29,961 | 28,743 |
Denominated in JPY | 3,862 | 1,035 |
Denominated in other currencies | 4,908 | 4,486 |
Subtotal trade accounts receivable | 80,160 | 75,923 |
Allowance for doubtful accounts | ||
Individual impairment allowance account | (2,152) | (1,501) |
Collective impairment allowance account | (58) | (38) |
Subtotal allowance for doubtful accounts | (2,210) | (1,539) |
Construction contracts in progress | ||
Aggregate amount of cost incurred and recognized profits | 19,553 | 476 |
Amounts of advances received | (15,111) | (208) |
Subtotal construction contracts in progress | 4,442 | 268 |
Balance at December 31 | 82,392 | 74,652 |
Increase/(decrease) | 10,959 | (6,538) |
Acquisition through business combination | 1,074 | – |
Translation differences | (1,550) | (1,202) |
Total change compared with previous year | 10,483 | (7,740) |
Amount of contract revenue recognized as sales in the statement of profit or loss relating to construction contracts | 4,810 | 6,842 |
The maximum exposure to credit risk for trade accounts receivable at the reporting date by geographic region was:
CHF 1,000 | 2012 | 2013 |
|---|---|---|
Switzerland (domestic) | 2,817 | 3,645 |
Euro-zone countries | 28,245 | 23,289 |
Other European countries | 2,280 | 3,358 |
North America | 35,307 | 34,385 |
Asia | 9,531 | 9,286 |
Other | 1,980 | 1,960 |
Balance at December 31 | 80,160 | 75,923 |
The Group’s most significant customer accounts for 6.1% of the trade accounts receivable carrying amount at December 31, 2013 (December 31, 2012: 6.1%).
The movement in the allowance for impairment in respect of trade accounts receivable during the year was as follows:
CHF 1,000 | 2012 | 2013 |
|---|---|---|
Individual impairment allowance account | ||
Balance at January 1 | (1,396) | (2,152) |
Change in impairment losses | (1,118) | 596 |
Write-offs | 336 | 45 |
Translation differences | 26 | 10 |
Balance at December 31 | (2,152) | (1,501) |
Amount of trade accounts receivable with individual impairment (gross) | 2,174 | 1,918 |
Collective impairment allowance account | ||
Balance at January 1 | (47) | (58) |
Change in impairment losses | (12) | 21 |
Translation differences | 1 | (1) |
Balance at December 31 | (58) | (38) |
The due dates of trade accounts receivable that are not individually impaired were:
2012 | 2013 | |||
|---|---|---|---|---|
CHF 1,000 | Gross | Impairment | Gross | Impairment |
Not past due | 60,285 | (41) | 61,703 | (25) |
Past due 1 – 30 days | 11,852 | (14) | 7,738 | (11) |
Past due 31 – 90 days | 3,970 | (3) | 4,234 | (2) |
Past due 91 – 360 days | 1,837 | – | 228 | – |
Past due more than one year | 42 | – | 102 | – |
Balance at December 31 | 77,986 | (58) | 74,005 | (38) |
The Group did not experience any severe financial difficulties with its debtors in the past. The sum of all recognized final writeoffs of trade accounts receivable in 2012 and 2013 represents less than 1% of sales.