Consolidated income statement

  Explanations in the notes 

2020
TCHF

in %

2019
TCHF
Adjusted 1

in %
    1.1.20 – 31.12.20   1.1.19 – 31.12.19  
           
Net sales 16) 306,199 100.4% 456,797 103.9%
       
Other operating income 17) 994 0.3% 1,493 0.3%
Change in inventories of semi-finished and finished products   –2,192 –0.7% –18,635 –4.2%
Production revenue   305,001 100.0% 439,655 100.0%
       
Cost of materials and goods   –210,668 –69.1% –377,853 –85.9%
Gross operating profit   94,332 30.9% 61,802 14.1%
       
Personnel expenses 18)–39,722 –13.0% –50,757 –11.5%
Other operating expenses 19) –40,741 –13.4% –85,754 –19.5%
Total operating expenses   –80,463 –26.4% –136,512 –31.0%
       
EBITDA   13,869 4.5% –74,709 –17.0%
       
Depreciation of fixed assets 6) –82,228 –27.0% –47,891 –10.9%
Amortisation of intangible assets 8) –684 –0.2% –3,708 –0.8 %
Profit from sale of subsidiaries 27) 1,170 0.4% –139,001 –31.6%
EBIT   –67,872 –22.3% –265,309 –60.3%
       
Income from associates and joint ventures 20) 350 0.1% 354 0.1%
Financial result 20) –5,092 –1.7% –8,675 –2.0%
Ordinary result   –72,615 –23.8% –273,631 –62.2%
       
Non-operating result 21) 5 0.0% 11 0.0%
Extraordinary result 22) 1 0.0% –343 –0.1%
Earnings before taxes   –72,608 –23.8% –273,962 –62.3%
       
Income taxes 23) 2,335 0.8% 2,583 0.6%
Net result   –70,274 –23.0% –271,378 –61.7%
       
Attributable to:  
Net result current year (shareholder)   –70,133 –23.0% –239,200 –54.4%
Net result current year (minority interests)   –141 0.0% –32,178 –7.3%
Net result   –70,274 –23.0% –271,378 –61.7%
       
Earnings per share (basic) 24) –34.60   –164.55  
Earnings per share (diluted) 24) –34.60   –164.55  

1) Previous year's figures adjusted due to the change in the valuation principles for the hybrid bond (see also the notes to the consolidated financial statements of the HOCHDORF Group "Principles of consolidation" and note 15)