3 Information on balance sheet items

3.1 Cash and cash equivalents

This balance sheet item includes bank accounts in the amount of CHF 102 million (previous year: CHF 132 million) and fixed-term deposits in the amount of CHF 305 million (previous year: CHF 0 million).

3.2 Other current receivables due from Corporate Companies

This balance sheet item includes short-term receivables and loans to Corporate Companies and items from cash pooling with Corporate Companies.

3.3 Loans to Corporate Companies

The activities of Corporate Companies are, whenever possible and suitable, financed by loans from the Corporation instead of credit facilities from local banks.

3.4 Other financial assets

This item includes loans to subordinated third parties in the amount of CHF 64 million. In the previous year, loans to related parties were included in the amount of CHF 66 million, of which CHF 47 million were subordinated.

3.5 Investments

Direct and indirect investments in Corporate Companies of Georg Fischer Ltd include the companies listed in note 4.2 in the consolidated financial statements.

3.6 Short-term interest-bearing liabilities due to Corporate Companies

This balance sheet item includes short-term liabilities and loans from Corporate Companies and items from cash pooling with Corporate Companies.

3.7 Accrued expenses and deferred income

Accrued expenses and deferred income comprises variable compensation for employees and fees for the Board of Directors as well as other deferred items.

3.8 Long-term interest-bearing liabilities

This balance sheet item contains a 10-year bond in the amount of CHF 200 million with a coupon of 1.05% and a maturity date of 20 April 2028, as well as a 9.5-year bond issued on 25 September 2020 in the amount of CHF 200 million with a coupon of 0.95% and a maturity date of 25 March 2030.

3.9 Long-term provisions

This provision mainly concerns currency risks.

3.10 Share capital

As of 31 December 2020, the share capital amounted to 4’100’898 registered shares at a par value of CHF 1, unchanged from the previous year.

Conditional capital: As of 31 December 2020, the conditional capital amounted to CHF 0.4 million and can be created through the exercise of conversion rights and/or warrants granted in connection with the issue on capital markets of bonds or similar debt instruments of Georg Fischer Ltd or one of its corporate subsidiaries.

Authorized capital: In accordance with the resolution of the Annual General Meeting of 15 April 2020, the Board of Directors is authorized to increase the share capital, no later than 14 April 2022, by a maximum amount of CHF 0.4 million, by issuing a maximum of 400’000 fully paid-in registered shares with a nominal value of CHF 1 each. The increase may be made in installments.

The maximum amount of the authorized or conditional capital is reduced by the amount that authorized or conditional capital is created through the issue of bonds or similar debt instruments or new shares.

3.11 Treasury shares

Georg Fischer Ltd held 7’682 own shares (previous year: 7’173 own shares) as of the balance sheet date. In the reporting period, 8’065 own shares (previous year: 10’280 own shares) were purchased and 7’556 own shares (previous year: 10’693 own shares) were offered under the different share-based compensation models to the Board of Directors, the Executive Management and the Senior Management. For further information on share-based compensation for the Board of Directors and the Executive Management see note 6. The principles for the valuation of treasury shares are found in note 1.8.

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