3.8 Provisions
in CHF thousand | Phantom Stock Plan (PSP) | Profit Growth Share Plan (PGSP) | Long service awards | Restructuring | Other | Total | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Balance at 1 January 2024 | 3,922 | – | 1,262 | – | 355 | 5,539 | ||||||
Addition | 2,220 | 1,097 | 77 | 2,321 | 594 | 6,309 | ||||||
Utilisation | – | – | – | (1,452) | (294) | (1,746) | ||||||
Reversal | (188) | – | (7) | (68) | (27) | (290) | ||||||
Balance at 31 December 2024 | 5,954 | 1,097 | 1,332 | 801 | 628 | 9,812 | ||||||
Addition | 19,943 | 873 | 284 | 631 | 430 | 22,161 | ||||||
Utilisation | (23,377) | (1,939) | (200) | (917) | (525) | (26,958) | ||||||
Reversal | (376) | (28) | (11) | (55) | (179) | (649) | ||||||
Currency translation | – | (3) | – | – | – | (3) | ||||||
Balance at 31 December 2025 | 2,144 | – | 1,405 | 460 | 354 | 4,363 | ||||||
of which current provisions | 2,144 | – | 302 | 460 | 321 | 3,227 | ||||||
of which non-current provisions | – | – | 1,103 | – | 33 | 1,136 |
Under the PSP, the vested portion accumulated up to the IPO was settled in cash during 2025, with the related payment presented under utilisation. Alongside new participants in the plan, additions recognised during the period largely reflect remeasurement of the PSP obligation due to changes in fair value assumptions. A provision remains recognised at year-end for the unvested post-IPO portion, which will be settled upon completion of the additional vesting period.
The PGSP was discontinued in connection with the IPO in 2025, which constituted the liquidity event defined under the plan terms. Accordingly, there was no allocation for the 2025 performance year. The addition recognised during the year relates to the vesting of the IPO factor associated with the 2024 performance year allocation. The balance relating to the 2024 performance year was fully settled in cash in November 2025. Further details on share-based compensation are provided in Note 2.2.
In early 2024, the Group initiated a strategic restructuring programme to further streamline its operations and improve efficiency and growth. This programme included a new comprehensive social plan aimed at supporting the affected employees. Benefits included continued salary payments beyond the contractual notice period for a duration determined by the seniority and age of the employee concerned, ensuring fair and considerate assistance during the transition period.
Other provisions encompass provisions for social securities of the equity-settled share-based compensation plans, buyer protection, and other provisions, none of which are individually material.
Accounting Policies
Provisions are recognised when a legal or constructive obligation arises from past events, the outflow of resources to settle this liability is probable, and the amount of the liability can be estimated reliably. Provisions are discounted when the impact of discounting is material. Potential obligations, or those that cannot be reliably estimated are disclosed as contingent liabilities. The provision for long-service awards is determined based on actuarial principles. The outflow of non-current provisions is expected within the next five years. The amount set aside for provisions and the timing of cash outflow are based on best possible estimates and may differ from actual outcomes in the future.