6 SHAREHOLDERS’ EQUITY
6.1 CHANGES IN SHAREHOLDERS’ EQUITY
| Share capital | Legal capital | General | Voluntary | Treasury shares | Total |
CHF 1,000 |
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Balance at January 1, 2023 | 1,273 | 454,910 | 1,000 | 237,857 | – | 695,040 |
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Net profit | – | – | – | 25,171 | – | 25,171 |
New shares issued based on (conditional share capital increase) | 5 | 18,619 | – | – | – | 18,624 |
Dividend paid | – | (18,512) | – | (18,512) | – | (37,024) |
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Balance at December 31, 2023 | 1,278 | 455,017 | 1,000 | 244,516 | – | 701,811 |
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Net profit | – | – | – | 35,405 | – | 35,405 |
New shares issued based on (conditional share capital increase) | 5 | 13,873 | – | – | – | 13,878 |
Dividend paid | – | (19,160) | – | (19,160) | – | (38,320) |
Purchase of treasury shares | – | – | – | – | (28,934) | (28,934) |
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Balance at December 31, 2024 | 1,283 | 449,730 | 1,000 | 260,761 | (28,934) | 683,840 |
The Company’s share capital is CHF 1’282’588.30, consisting of 12’825’883 registered shares with a nominal value of CHF 0.10 each (2023: share capital of CHF 1’278’308.70 consisting of 12’783’087 registered shares with a nominal value of CHF 0.10 each).
The amount of the legal capital reserve (capital contribution reserve) is subject to review and confirmation by the Swiss federal tax authorities.
6.2 CONDITIONAL SHARE CAPITAL
| 31.12.2023 | 31.12.2024 |
Reserved for employee participation plans |
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Shares (with a nominal value of CHF 0.10 each) | 170,125 | 127,329 |
CHF | 17,013 | 12,733 |
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Maximum of employee share options and employee shares outstanding | 133,922 | 153,103 |
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Reserved for future business development |
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Shares (with a nominal value of CHF 0.10 each) | 1,800,000 | 1,800,000 |
CHF | 180,000 | 180,000 |
In 1997, a conditional share capital of CHF 130’000 reserved for employee participation plans was approved. The conditional share capital consisted of 1’300’000 registered shares with a nominal value of CHF 0.10 each. Since 1999, several employee participation plans have been introduced based on this conditional share capital. Between February 2011 and June 2015, the employee participation plans were funded with treasury shares. In 2024 a total of 6’558 options (share option plans) were exercised and 36’238 shares transferred (share plans), increasing the Company’s share capital by CHF 4’276.30 and decreasing the Company’s conditional share capital by 42’796 shares (2023: a total of 9’488 options were exercised and 42’158 shares transferred, increasing the share capital by CHF 5’164.60 and decreasing the conditional share capital by 51’646 shares). Effective as from January 1, 2025, the Group will fund outstanding employee participation plans with treasury shares.
On April 26, 2006, the Annual General Meeting of Shareholders approved the creation of additional conditional share capital for the purpose of future business development.
6.3 TREASURY SHARES
Shares (each share has a nominal value of CHF 0.10) | 31.12.2023 | 31.12.2024 |
Balance at January 1 | – | – |
Purchase | – | 100,000 |
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Total | – | 100,000 |
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Average price of shares purchased, CHF | – | 289.34 |