Balance Sheet

CHF millions	Note	31.12.2019	31.12.2018
ASSETS
Short-term assets
Liquid funds		79.1	100.5
Accounts receivables from Group companies		4.4	2.4
Other short-term receivables in relation to holding		65.5	12.5
Subtotal short-term Assets		149.0	115.4
Long-term Assets
Loans to Group companies		192.0	198.5
Participations	4	116.5	116.5
Tangible assets		0.1	0.2
Subtotal long-term Assets		308.6	315.2
Total Assets		457.6	430.6
LIABILITIES
Liabilities
– Accounts payables to third		1.5	0.6
– Accounts payables to Group companies		0.9	0.9
Accounts payables		2.4	1.5
– Short-term financial debts to third	5	0.2	0.2
– Short-term financial debts to Group companies		20.2	6.9
Short-term interest-bearing financial debts		20.4	7.1
Deferrals and short-term provisions		3.0	3.7
Subtotal Short-term liabilities		25.8	12.3
– Long-term financial debts to Group companies		3.0	3.0
– Long-term provisions		0.7	0.7
Subtotal Long-term liabilities		3.7	3.7
Total Liabilities		29.5	16.0
Shareholders' Equity
Share capital	6	19.8	19.8
Legal capital reserves / reserves from capital investments		0.3	0.3
Legal profit reserves		28.6	28.6
– Free reserves		324.2	294.3
Retained earnings brought forward from previous year		21.8	24.3
Annual profit		33.4	47.3
– Accumulated profits		55.2	71.6
Voluntary retained earnings		379.4	365.9
Subtotal Sharholders' Equity		428.1	414.6
Total Liabilities		457.6	430.6