Chart

14 Trade accounts receivable

 

2016

2017

CHF 1,000

 

 

Trade accounts receivable

 

 

 Denominated in CHF

27,456

 32,120 

 Denominated in EUR

19,533

 23,256 

 Denominated in GBP

1,996

 2,914 

 Denominated in USD

40,856

 45,091 

 Denominated in JPY

2,369

 4,012 

 Denominated in other currencies

4,988

 7,734 

 Subtotal trade accounts receivable

97,198

 115,127 

 

 

 

Allowance for doubtful accounts

 

 

 Individual impairment allowance account

(1,851)

 (3,033) 

 Collective impairment allowance account

(360)

 (533) 

 Subtotal allowance for doubtful accounts

(2,211)

 (3,566) 

 

 

 

Construction contracts in progress

 

 

 Aggregate amount of cost incurred and recognized profits

15,915

 6,883 

 Allowance

(1,247)

 – 

 Amounts of advances received

(12,610)

 (5,369) 

 Subtotal construction contracts in progress

2,058

 1,514 

 

 

 

Balance at December 31

97,045

 113,075 

 

 

 

Increase

4,529

 15,608 

Acquisition through business combination

3,180

 – 

Translation differences

46

 422 

Total change compared with previous year

7,755

 16,030 

 

 

 

Amount of contract revenue recognized as sales in the statement of

 profit or loss relating to construction contracts

7,074

 10,077 

 

The maximum exposure to credit risk for trade accounts receivable at the reporting date by geographic region was:

 

 

2016

2017

CHF 1,000

 

 

Switzerland (domestic)

3,329

 2,297 

Euro-zone countries

20,744

 33,908 

Other European countries 

7,509

 5,540 

North America 

55,089

 60,225 

Asia

9,153

 11,524 

Other

1,374

 1,633 

 

 

 

Balance at December 31

97,198

 115,127 

The Group’s most significant customer accounts for 13.6% of the trade accounts receivable carrying amount at December 31, 2017 (December 31, 2016: 11.3%).

 

The movement in the allowance for impairment in respect of trade accounts receivable during the year was as follows:

 

 

2016

2017

CHF 1,000

 

 

Individual impairment allowance account

 

 

Balance at January 1

(1,831)

 (1,851) 

Change in impairment losses

(74)

 (1,464) 

Write-offs

73

 288 

Translation differences

(19)

 (6) 

 

 

 

Balance at December 31

(1,851)

 (3,033) 

 

 

 

Amount of trade accounts receivable with individual impairment (gross)

1,936

 3,107 

 

 

 

Collective impairment allowance account

 

 

Balance at January 1

(199)

 (360) 

Change in impairment losses

(163)

 (150) 

Translation differences

2

 (23) 

 

 

 

Balance at December 31

(360)

 (533) 

 

The due dates of trade accounts receivable that are not individually impaired were:

 

 

2016

2017

CHF 1,000

Gross

Impairment

Gross

Impairment

Not past due

82,298

(38)

 84,538 

– 

Past due 1 – 30 days

11,137

 21,284 

– 

Past due 31 – 90 days

2,327

 5,392 

– 

Past due 91 – 360 days

(350)

(321)

 842 

 (523) 

Past due more than one year

(150)

(1)

 (36) 

 (10) 

 

 

 

 

 

Balance at December 31

95,262

(360)

 112,020 

 (533) 

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 2016 and 2017 represents less than 1% of sales.

 

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