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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