1.3 Expenses

1.3.1 Operating expenses

Tabelle anzeigen Tabelle ausblenden
Show table Hide table

CHF million

2020

2019

 

 

 

External services 1

142

170

Selling costs, commissions

115

134

Repair, maintenance

71

77

Advertisements, communication

61

98

External energy supply

77

84

Rent, leases

45

48

Other expenses 2

65

54

Total

576

665

1 External services include e.g. temporary employees, IT costs, R&D, insurance costs as well as consulting services.

2 Other expenses include compensation to the members of the Board of Directors of CHF 2.7 million (previous year: CHF 2.7 million).

1.3.2 Personnel expenses

Tabelle anzeigen Tabelle ausblenden
Show table Hide table

CHF million

2020

2019

 

 

 

Salaries and wages

715

817

Employee benefits

34

32

Social security

134

163

Total

883

1’012

Due to the adverse economic effects of the COVID-19 crisis, state compensation programs were availed of at the level of individual GF Corporate Companies as a result of short-time work. Such compensation is reported under salaries and wages. In the period under review, CHF 43 million in short-time work benefits were received, hereof CHF 27 million in Switzerland. A significant part was attributable to GF Casting Solutions and GF Machining Solutions.

In the year under review, expenses for share-based payment transactions to members of the Executive Committee and to members of the Senior Management recorded in the personnel expenses amounted to CHF 7.2 million (previous year: CHF 7.9 million). For more details on transactions with the Executive Committee see Compensation Report and note 4.3 (4.3.2 Transactions with members of the Board of Directors and the Executive Committee).

https://annual-report.georgfischer.com/20/en/wp-json/public/posts/