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 6.
20.1 AMOUNTS RECOGNIZED IN THE FINANCIAL STATEMENTS
The amounts recognized in the balance sheet are as follows:
| Property | Office equipment | Motor vehicles | Total |
CHF 1,000 |
|
|
|
|
Balance at January 1, 2023 | 53,456 | 51 | 1,874 | 55,381 |
Additions and subsequent measurement | 24,915 | (6) | 1,840 | 26,749 |
Disposal | – | – | (55) | (55) |
Depreciation | (12,966) | (19) | (1,201) | (14,186) |
Translation differences | (3,634) | (5) | (101) | (3,740) |
|
|
|
|
|
Balance at December 31, 2023 | 61,771 | 21 | 2,357 | 64,149 |
|
|
|
|
|
Additions and subsequent measurement | 13,901 | 13 | 1,391 | 15,305 |
Disposal | (18) | – | 21 | 3 |
Depreciation | (12,171) | (15) | (1,331) | (13,517) |
Translation differences | 2,606 | – | 30 | 2,636 |
|
|
|
|
|
Balance at December 31, 2024 | 66,089 | 19 | 2,468 | 68,576 |
The related lease liabilities are disclosed in note 22.
The amounts recognized in the statement of profit or loss are as follows:
| 2023 | 2024 |
CHF 1,000 |
|
|
Depreciation expense of right-of-use assets | 14,186 | 13,517 |
Expense related to short-term and low value leases | 142 | 45 |
|
|
|
Interest cost on lease liabilities (included in finance cost) | 671 | 2,259 |
|
|
|
Total amount recognized in profit or loss | 14,999 | 15,821 |
In financial year 2024, the Group paid a total amount of CHF 15.3 million (2023: CHF 14.7 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 to maximize operational flexibility. Normally, these options are exercisable only by the lessee and not by the lessors. For all locations, the undiscounted potential future rental payments relating to periods following the exercise date of the options are estimated at CHF 89.9 million, of which CHF 18.1 million, particularly the US locations of Paramit, are considered in the valuation of the right-of-use assets as of December 31, 2024.
At year-end 2024, there are no new lease commitments with commencement date after the balance sheet date (2023: none).