II Notes to the financial statements
1 Extraordinary result
|
(CHF 1,000) |
|
2020 |
|
2019 |
|
Extraordinary income |
|
1,290 |
|
1,887 |
|
Extraordinary expenses |
|
–89,072 |
|
–5,526 |
|
Extraordinary result |
|
–87,782 |
|
–3,639 |
Extraordinary expenses included a valuation allowance of CHF 75.0 million on loans to subsidiaries that relates primarily to unfavourable exchange rate movements in Brazil (see note 4, Investments and loans). Both in the reporting period and in the previous year, project costs derecognised, losses on asset disposals and losses on receivables were also recognised in this line item.
