1.2 Sales and other operating income

1.2.1 Products, services and most important revenue sources

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Sales

CHF million

2020

2019

 

 

 

GF Piping Systems

1’708

1’802

 

 

 

Utility 1

648

716

Industry 2

646

646

Building technology 3

414

440

 

 

 

GF Casting Solutions

752

949

 

 

 

Automotive (remaining)

596

688

Automotive (divested) 4

 

59

Industrial applications

82

111

Aerospace/Energy

74

91

 

 

 

GF Machining Solutions

725

972

 

 

 

Milling

213

282

EDM

185

261

Customer service

224

276

Advanced manufacturing/Automation & Tooling

103

153

1 Products for the supply of gas and water.

2 Products for the treatment and transport of water and other media for industrial applications.

3 Products for the supply of water und floor-heating systems in buildings.

4 Correspond to divested sales see [note 4.1.1] Additions, disposals and mergers.

Accounting principles

Billings for goods and services are recognized as sales when they are delivered or when the principal risks and benefits incidental to ownership are transferred.

An assessment as to whether the principal risks and opportunities were transferred for a particular delivery is made separately for each sales transaction on the basis of the contractual agreement underlying the transaction. The transfer of legal ownership alone does not necessarily result in the transfer of the principal risks and opportunities. This is the case, for instance, if:

Services rendered are recognized as sales depending on the degree of their completion if the result of the service can be reliably assessed.

Sales are stated before value-added tax, sales tax, and after the deduction of discounts and credits. Appropriate warranty provisions are recognized for anticipated claims.

1.2.2 Other operating income

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CHF million

2020

2019

 

 

 

Sales of material, waste, and scrap

9

11

Income from insurance contracts

4

5

Income from services

8

11

Gains on disposals of property, plant, and equipment

14

1

Foreign exchange gains/losses

–6

–8

Other operating income

14

14

Total

43

34

A large part of the gains on disposals of property, plant, and equipment is attributable to the sale of a building by GF Machining Solutions in Switzerland.

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