10 FINANCIAL INSTRUMENTS AND FAIR VALUE DISCLOSURES
10.1 CLASSES OF FINANCIAL INSTRUMENTS
Cash and cash equivalents | Other current financial assets | Trade and other receivables | Non- | Total assets 2025 | Current financial liabilities | Trade | Non- | Total liabilities 2025 | Fair value disclosure | |
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Derivatives instruments (FVTPL) |
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| Currency forwards | - | 1,959 | - | - | 1,959 | (188) | - | - | (188) | |
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Financial instruments (FVTPL) |
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| Convertible bonds | - | 1 | - | - | 1 | - | - | - | - | |
| Contingent consideration | - | - | - | - | - | (277) | - | - | (277) | |
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Financial instruments measured at fair value through OCI (FVOCI) |
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Unquoted equity investment | - | - | - | 1,001 | 1,001 | - | - | - | - | |
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Financial instruments measured at amortized costs1 |
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| Cash and cash equivalents | 176,370 | - | - | - | 176,370 | - | - | - | - | |
| Time deposits | - | 135,000 | - | - | 135,000 |
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| Receivables | - | - | 127,012 | - | 127,012 | - | - | - | - | |
| Rent and other deposits | - | - | 824 | 1,219 | 2,043 | - | - | - | - | |
Payables and accrued expenses | - | - | - | - | - | - | (125,101) | - | (125,101) | |
| Bond | - | - | - | - | - | - | - | (150,298) | (150,298) | 148,650 |
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| Other |
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| Lease liabilities | - | - | - | - | - | (10,397) | - | (57,630) | (68,027) | |
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| Total financial instruments | 176,370 | 136,960 | 127,836 | 2,220 | 443,386 | (10,862) | (125,101) | (207,928) | (343,891) | |
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| Reconciling items2 | - | - | 13,882 | - | 13,882 | - | (26,817) | - | (26,817) | |
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Balance at December 31, 2025 | 176,370 | 136,960 | 141,718 | 2,220 | 457,268 | (10,862) | (151,918) | (207,928) | (370,708) |
- The carrying amount of financial instruments measured at amortized costs (except for bond) is a reasonable approximation of their fair value due to their short-term nature.
- Receivables/payables arising from VAT/other non-income taxes and social security.
Cash and cash equivalents | Other current financial assets | Trade and other receivables | Non- | Total assets 2026 | Current financial liabilities | Trade | Non- | Total liabilities 2026 | Fair value disclosure | |
| CHF 1,000 |
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Derivatives instruments (FVTPL) |
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| Currency forwards | - | 144 | - | - | 144 | (2,114) | - | (1,033) | (3,147) | |
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Financial instruments (FVTPL) |
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| Convertible bonds | - | 1 | - | - | 1 | - | - | - | - | |
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Financial instruments measured at fair value through OCI (FVOCI) |
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Unquoted equity investment | - | - | - | 1,002 | 1,002 | - | - | - | - | |
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Financial instruments measured at amortized costs1 |
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| Cash and cash equivalents | 124,484 | - | - | - | 124,484 | - | - | - | - | |
| Time deposits | - | 100,000 | - | - | 100,000 | - | - | - | - | |
| Receivables | - | - | 131,686 | - | 131,686 | - | - | - | - | |
| Rent and other deposits | - | - | 500 | 1,140 | 1,640 | - | - | - | - | |
| Loans | - | - | - | 404 | 404 | - | - |
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| Current bank liabilities | - | - | - | - | - | (520) | - | - | (520) | |
Payables and accrued expenses | - | - | - | - | - | - | (114,576) | - | (114,576) | |
| Bond | - | - | - | - | - | - | - | (150,945) | (150,945) | 149,100 |
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| Other |
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| Lease liabilities | - | - | - | - | - | (9,837) | - | (53,019) | (62,856) | |
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| Total financial instruments | 124,484 | 100,145 | 132,186 | 2,546 | 359,361 | (12,471) | (114,576) | (204,997) | (332,044) | |
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| Reconciling items2 | - | - | 18,181 | - | 18,181 | - | (20,420) | - | (20,420) | |
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Balance at June 30, 2026 | 124,484 | 100,145 | 150,367 | 2,546 | 377,542 | (12,471) | (134,996) | (204,997) | (352,464) |
- The carrying amount of financial instruments measured at amortized costs (except for bond) is a reasonable approximation of their fair value due to their short-term nature.
- Receivables/payables arising from VAT/other non-income taxes and social security.
10.2 FAIR VALUE MEASUREMENT AND DISCLOSURES
Position | Disclosure (note) | Fair value hierarchy | Data source | Valuation technique used / model |
Currency forwards | 10.1 | Level 2 | Financial data supplier | (Forward rate - [spot rate +/- SWAP points]) * amount |
Convertible bonds | 10.1 | Level 3 | n/a | Value of the straight bond plus value of conversion option |
Unquoted equity investment | 10.3 | Level 3 | n/a | Market sales multiples |
Bond | 10.1 | Level 1 | Financial data supplier | Market value available at SIX (ISIN CH474857070) |
There have been no transfers between the levels in 2025 and 2026.
10.3 CONVERTIBLE BONDS AND UNQUOTED EQUITY INVESTMENT (LEVEL 3)
Unquoted equity investment – The most significant input factor is the forecast sales figure for the investment.