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20 RIGHT-OF-USE ASSETS (GROUP AS LESSEE)

This note provides information for leases where the Group is a lessee. For leases where the Group is a lessor see note 5.

20.1 AMOUNTS RECOGNIZED IN THE FINANCIAL STATEMENTS

The amounts recognized in the balance sheet are as follows:

 

 

Property

Office 

equipment

Machines

Motor 

vehicles

Total

CHF 1,000

 

 

 

 

 

Balance at January 1, 2020

40,733 

36 

2,659 

43,428

Additions and subsequent measurement

4,159 

32 

26 

1,549 

5,766

Depreciation

(9,325) 

(19) 

(9) 

(1,562) 

(10,915)

Disposals

(7) 

(109) 

(116)

Translation differences

(1,027) 

(54) 

(1,081)

 

 

 

 

 

 

Balance at December 31, 2020

34,540 

42 

17 

2,483 

37,082

 

 

 

 

 

 

Acquisition through business combination

27,897 

27,897

Additions and subsequent measurement

8,330 

1,366 

9,704

Depreciation

(10,753) 

(16) 

(8) 

(1,455) 

(12,232)

Translation differences

150 

(1) 

(1) 

(53) 

95

 

 

 

 

 

 

Balance at December 31, 2021

60,164 

33 

2,341 

62,546

The related lease liabilities are disclosed in note 22.

 

The amounts recognized in the statement of profit or loss are as follows:

 

 

2020

2021

CHF 1,000

 

 

Depreciation expense of right-of-use assets

 10,915 

 12,232 

Expense related to short-term leases

 114 

140 

Expense related to low-value leases

 62 

 - 

 

 

 

Interest cost on lease liabilities (included in finance cost)

 530 

 542

 

 

 

Total amount recognized in profit or loss

 11,621 

 12,914 

In financial year 2021, the Group paid a total amount of CHF 12.7 million (2020: CHF 11.2 million) to its lessors. 

 

20.2 ADDITIONAL DISCLOSURES

The Group has several property lease contracts that include renewal and termination options. Where useful, the Group aims to incorporate options into its leases in order to maximize operational flexibility. Normally, these options are exercisable only by the lessee and not by the lessors. For the main locations, the undiscounted potential future rental payments relating to periods following the exercise date of the options are estimated at CHF 74.2 million, of which CHF 18.1 million, particularly the headquarters in Switzerland, are considered in the valuation of the right-of-use assets as at December 31, 2021.

 

At year-end 2021, there is no material new lease commitment with commencement date after the balance sheet date (2020: none).

 

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