Income Statement - Integrated Annual Report and Remuneration Report 2019

CHF millions	Note	2019	2018

Dividend income		38.6	35.9
Income generated from licenses		10.4	9.9
Management fees		10.2	7.2
Other income		2.6	2.3
Total income		61.8	55.3

Personnel expenses		– 10.7	– 7.9
– Administrative expenses		– 6.6	– 4.8
– Promotional expenses		– 1.8	– 1.2
– various operating expenses		– 2.3	– 2.6
Other operating expenses		– 10.7	– 8.6
Depreciation of tangible assets		– 0.1	– 0.1

Operating Result (EBIT)		40.3	38.7

Interest expenses		–	– 0.1
Currency exchange losses		– 12.7	– 19.3
Total financial expenses		– 12.7	– 19.4

Interest income		4.0	4.0
Currency exchange gains		2.5	17.0
Other financial income		–	–
Total financial income		6.5	21.0

Ordinary Result		34.1	40.3
Extraordinary income	2/4	–	7.9

Annual Profit Before Taxes		34.1	48.2
Income taxes		– 0.7	– 0.9
Annual Profit		33.4	47.3