4.1 Trade receivables
CHF million | December 31, 2023 | December 31, 2024 |
|---|---|---|
Trade receivables (gross) | 142.2 | 110.2 |
Allowance for trade receivables | – 3.4 | – 3.8 |
Trade receivables | 138.8 | 106.4 |
Trade receivables are divided into the following major currencies:
CHF million | December 31, 2023 | December 31, 2024 |
|---|---|---|
CHF | 98.9 | 59.5 |
CNY | 2.3 | 5.9 |
EUR | 26.9 | 24.5 |
INR | 2.8 | 6.7 |
USD | 6.8 | 9.0 |
Other | 1.1 | 0.8 |
Trade receivables | 138.8 | 106.4 |
For further information on credit risks, aging structure of trade receivables, and movements in the allowance for trade receivables, see note 8.5.
Material accounting policies
Trade receivables are initially recognized at their transaction price and subsequently measured at amortized cost, which is usually the original invoice value less an allowance for expected credit losses. The allowance for trade receivables is determined based on lifetime expected credit losses, which are calculated as the present value of expected cash shortfalls. Changes are recognized in the income statement as other income or expenses.