Pending transactions
There are out-of-home advertising contracts with an obligation to provide future services intended to generate a specific level of revenue in the amount of CHF 54.3 million. The management estimates that the agreed revenue targets will be achieved. Provisions would be formed for loss-generating contracts. There were also out-of-home advertising contracts in the previous year with an obligation to generate a minimum revenue. These amounted to CHF 85.2 million, with the management estimating that these revenue targets will be reached. The previous year’s value had to be adjusted due to new information in respect of the out-of-home advertising agreements.
Framework agreements are entered into with major suppliers for the procurement of newsprint and magazine paper. Some of these contracts had already been concluded before the end of 2020 for the following year, including a purchase agreement worth CHF 19.5 million as of 31 December 2020. In the previous year, there were no such agreements in relation to future delivery periods.
There are no other pending transactions as of the balance sheet date.