20. Financial liabilities
Financial liabilities
|
in thousand CHF |
2023 |
2022 |
|
Bank loans |
30,000 |
– |
|
Loans |
28,053 |
6,320 |
|
Mortgages |
1,229 |
1,241 |
|
Liabilities to pension funds |
10,708 |
12,099 |
|
Bonds |
419,871 |
380,194 |
|
Contingent consideration liabilities from business combinations |
41,507 |
49,180 |
|
Other financial liabilities |
7,431 |
4,279 |
|
Financial liabilities |
538,799 |
453,312 |
|
– of which current financial liabilities |
70,231 |
218,464 |
|
– of which non-current financial liabilities |
468,569 |
234,848 |
Galenica issued two fixed-interest rate bonds for a nominal amount totalling CHF 420.0 million for the purpose of long-term financing. One bond of CHF 180.0 million was issued in 2017 with an annual coupon of 1.00% and a term of 9½ years, falling due on 15 December 2026 and the other bond of CHF 240.0 million was issued in 2023 with an annual coupon of 2.35 % and a term of 6½ years, falling due on 8 November 2029. The bonds are traded on the SIX Swiss Exchange under securities no. 36720670 (ISIN CH0367206700) and 125592445 (ISIN CH1255924453) respectively. The bonds closed at 98.65% (previous year: 95.55%) and 103.95% (issued in 2023 at 101.3%) respectively as at 31 December 2023.
On 15 June 2023, Galenica redeemed a matured fixed-rate bond for a nominal amount of CHF 200.0 million with an annual coupon of 0.5%, initially issued in 2017. The bond was traded on the SIX Swiss Exchange under securities no. 36720669 (ISIN CH036706692).
Cash flow from financial liabilities and lease liabilities 2023
|
in thousand CHF |
01.01.2023 |
Proceeds from financial liabilities |
Repayment of financial liabilities |
Addition to scope of consolidation |
Disposal from scope of consolidation |
Other changes |
31.12.2023 |
|
Bank loans |
– |
60,000 |
–30,000 |
– |
– |
– |
30,000 |
|
Loans |
6,320 |
22,320 |
–653 |
– |
– |
66 |
28,053 |
|
Mortgages |
1,241 |
– |
–12 |
– |
– |
– |
1,229 |
|
Liabilities to pension funds |
12,099 |
5 |
–1,900 |
– |
– |
504 |
10,708 |
|
Private placement (notes) |
– |
55,000 |
–55,000 |
– |
– |
– |
– |
|
Bonds |
380,194 |
239,726 |
–200,000 |
– |
– |
–48 |
419,871 |
|
Contingent consideration liabilities from business combinations |
49,180 |
– |
– |
– |
– |
–7,672 |
41,507 |
|
Other financial liabilities |
4,279 |
– |
– |
– |
– |
3,152 |
7,431 |
|
Financial liabilities |
453,312 |
377,051 |
–287,565 |
– |
– |
–3,998 |
538,799 |
|
Lease liabilities |
233,178 |
– |
–52,201 |
5,756 |
–4,228 |
53,536 |
236,041 |
|
Financial liabilities and lease liabilities |
686,490 |
377,051 |
–339,766 |
5,756 |
–4,228 |
49,538 |
774,841 |
Cash flow from financial liabilities and lease liabilities 2022
|
in thousand CHF |
01.01.2022 |
Proceeds from financial liabilities |
Repayment of financial liabilities |
Addition to scope of consolidation |
Disposal from scope of consolidation |
Other changes |
31.12.2022 |
|
Loans |
5,654 |
1,607 |
–986 |
– |
– |
45 |
6,320 |
|
Mortgages |
1,253 |
– |
–12 |
– |
– |
– |
1,241 |
|
Liabilities to pension funds |
37,503 |
– |
–24,895 |
– |
– |
–510 |
12,099 |
|
Bonds |
380,306 |
– |
– |
– |
– |
–112 |
380,194 |
|
Contingent consideration liabilities from business combinations |
24,000 |
– |
– |
– |
– |
25,180 |
49,180 |
|
Other financial liabilities |
880 |
– |
– |
– |
– |
3,399 |
4,279 |
|
Financial liabilities |
449,596 |
1,607 |
–25,893 |
– |
– |
28,002 |
453,312 |
|
Lease liabilities |
223,051 |
– |
–52,459 |
4,002 |
–455 |
59,038 |
233,178 |
|
Financial liabilities and lease liabilities |
672,647 |
1,607 |
–78,351 |
4,002 |
–455 |
87,040 |
686,490 |