Consolidated statement of changes in equity
Equity is composed of the following positions:
This is the nominal amount of share capital. The share capital is divided into 70,000 ordinary registered shares with a par value of CHF 1,000 each.
Capital reserves are payments in excess of the nominal amount (surplus).
Retained earnings refers to accumulated equity capital in the form of earnings that are kept and not distributed from previous years. The income obtained from the first application of Swiss GAAP FER is recognised as retained earnings.