3 Information on the income statement
3.1 Dividend income
The dividend income for the year was CHF 139 million (previous year: CHF 132 million).
3.2 Income from services provided to Corporate Companies
The income from Corporate Companies consisted primarily of licensing income for the use of the corporate brand +GF+ as well as income for services provided.
3.3 Financial income
The financial income comes primarily from interest income on the loans granted to Corporate Companies.
3.4 Commission income from Corporate Companies
This position contains commission income from Corporate Companies for issued guarantees. In the previous year, this position was shown as part of the “Financial expenses”.
3.5 Value adjustment on investments
Some investments of Georg Fischer Ltd had to be written down due to the application of the principle of individual evaluation. The principles for the valuation of investments are found in section 1.4.
3.6 Financial expenses
This income statement item includes mainly the interest expense for the debenture loan 3 3/8% with a nominal value of CHF 200 million which was repaid on 12 May 2016 as well as currency gains.
3.7 Other operating expenses
The main expense items related to external consulting services, marketing expenses, fees for the Board of Directors, and data processing costs.
3.8 Direct taxes
Income taxes in the period under review concerned not only the income taxes of Georg Fischer Ltd, but also the corporation taxes of Georg Fischer BV & Co KG, Singen (Germany), acting as the German fiscal unity parent of GF. Georg Fischer Ltd, as the associate of Georg Fischer BV & Co KG, is liable for German corporation taxes. Increased taxable income in Germany but mainly in Switzerland resulted in rising direct taxes.
