14 Trade accounts receivable
| 2014 | 2015 |
CHF 1,000 |
|
|
Trade accounts receivable |
|
|
Denominated in CHF | 32,715 | 22,121 |
Denominated in EUR | 20,303 | 20,241 |
Denominated in GBP | 1,213 | 3,199 |
Denominated in USD | 32,800 | 37,029 |
Denominated in JPY | 2,625 | 1,756 |
Denominated in other currencies | 8,302 | 5,099 |
Subtotal trade accounts receivable | 97,958 | 89,445 |
|
|
|
Allowance for doubtful accounts |
|
|
Individual impairment allowance account | (1,542) | (1,831) |
Collective impairment allowance account | (233) | (199) |
Subtotal allowance for doubtful accounts | (1,775) | (2,030) |
|
|
|
Construction contracts in progress |
|
|
Aggregate amount of cost incurred and recognized profits | 2,721 | 2,830 |
Amounts of advances received | (955) | (955) |
Subtotal construction contracts in progress | 1,766 | 1,875 |
|
|
|
Balance at December 31 | 97,949 | 89,290 |
|
|
|
Increase/(decrease) | 19,651 | (12,764) |
Acquisition through business combination | 1,261 | 6,584 |
Translation differences | 2,385 | (2,479) |
Total change compared with previous year | 23,297 | (8,659) |
|
|
|
Amount of contract revenue recognized as sales in the statement of profit or loss relating to construction contracts | 7,661 | 3,455 |
The maximum exposure to credit risk for trade accounts receivable at the reporting date by geographic region was:
| 2014 | 2015 |
CHF 1,000 |
|
|
Switzerland (domestic) | 2,549 | 4,157 |
Euro-zone countries | 33,562 | 26,159 |
Other European countries | 6,695 | 7,757 |
North America | 39,901 | 40,436 |
Asia | 11,998 | 8,027 |
Other | 3,253 | 2,909 |
|
|
|
Balance at December 31 | 97,958 | 89,445 |
The Group’s most significant customer accounts for 8.6 % of the trade accounts receivable carrying amount at December 31, 2015 (December 31, 2014: 10.4 %).
The movement in the allowance for impairment in respect of trade accounts receivable during the year was as follows:
| 2014 | 2015 |
CHF 1,000 |
|
|
Individual impairment allowance account |
|
|
Balance at January 1 | (1,501) | (1,542) |
Change in impairment losses | (8) | (424) |
Write-offs | 5 | 30 |
Translation differences | (38) | 105 |
|
|
|
Balance at December 31 | (1,542) | (1,831) |
|
|
|
Amount of trade accounts receivable with individual impairment (gross) | 1,839 | 1,928 |
|
|
|
Collective impairment allowance account |
|
|
Balance at January 1 | (38) | (233) |
Change in impairment losses | (193) | 15 |
Translation differences | (2) | 19 |
|
|
|
Balance at December 31 | (233) | (199) |
The due dates of trade accounts receivable that are not individually impaired were:
| 2014 | 2015 | ||
CHF 1,000 | Gross | Impairment | Gross | Impairment |
Not past due | 49,680 | (28) | 59,434 | (38) |
Past due 1 – 30 days | 40,549 | (7) | 22,660 | – |
Past due 31 – 90 days | 5,355 | – | 5,000 | – |
Past due 91 – 360 days | 516 | (196) | 433 | (134) |
Past due more than one year | 19 | (2) | (10) | (27) |
|
|
|
|
|
Balance at December 31 | 96,119 | (233) | 87,517 | (199) |
The Group did not experience any severe financial difficulties with its debtors in the past. The sum of all recognized final write-offs of trade accounts receivable in 2014 and 2015 represents less than 1 % of sales.
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