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TX Group Annual Report 2021
TX Group Annual Report 2021
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Property, plant and equipment

in CHF 000   Land   Buildings,
installations and
ancillary
facilities		   Technical
equipment
and
machinery		   Furnishings,
motor
vehicles and
works of art		   Advance
payments and
assets under
construction		   Right-of-use
assets
from leases		   Total
Historical cost                            
As of 1 January 2020   65 879   310 794   259 717   18 139   1 963   55 719   712 210
                             
Additions of consolidated companies   –   –   –   –   –   –   –
Disposals of consolidated companies   –   (75)   (702)   (461)   –   (392)   (1 631)
Additions   –   3 895   4 512   1 824   8 589   38 775   57 595
Disposals   –   (6 053)   (5 237)   (2 152)   –   (1 260)   (14 702)
Transfers   –   937   4 453   995   (6 385)   –   –
Currency effect   –   (5)   (13)   (2)   –   (11)   (31)
As of 31 December 2020   65 879   309 493   262 730   18 343   4 166   92 830   753 442
                             
Additions of consolidated companies   –   –   36   20   –   –   56
Disposals of consolidated companies   –   (509)   (677)   (343)   –   (3 943)   (5 472)
Additions   –   1 676   7 576   1 005   6 630   7 533   24 421
Disposals   –   (1 068)   (3 983)   (409)   (18)   (5 488)   (10 966)
Transfers   –   423   2 891   170   (3 484)   –   –
Currency effect   –   (48)   (69)   (45)   (3)   (227)   (392)
As of 31 December 2021   65 879   309 967   268 503   18 741   7 292   90 706   761 088
                             
Accumulated depreciation and impairment                            
As of 1 January 2020   –   177 855   202 174   13 672   –   11 768   405 470
                             
Disposals of consolidated companies   –   (75)   (529)   (339)   –   (254)   (1 198)
Depreciation and amortisation   –   9 309   13 316   1 659   –   14 877   39 162
Disposals   –   (5 819)   (4 632)   (2 120)   –   (697)   (13 268)
Currency effect   –   0   (12)   (1)   –   (4)   (16)
As of 31 December 2020   –   181 270   210 316   12 872   –   25 691   430 150
                             
Disposals of consolidated companies   –   (106)   (615)   (149)   –   (1 826)   (2 696)
Depreciation and amortisation   –   9 064   13 113   1 491   –   16 229   39 897
Disposals   –   (951)   (3 789)   (243)   –   (3 270)   (8 252)
Currency effect   –   (14)   (42)   (18)   –   (56)   (130)
As of 31 December 2021   –   189 263   218 983   13 954   –   36 769   458 969
                             
Net carrying value                            
As of 31 December 2020   65 879   128 223   52 414   5 471   4 166   67 139   323 292
As of 31 December 2021   65 879   120 704   49 520   4 788   7 292   53 936   302 119

Property, plant and equipment reduced by CHF 21.2 million during the reporting year and amount to CHF 302.1 million as of the balance sheet date.

A decline of CHF 2.8 million was recorded due to changes to the group of consolidated companies. Additions to the group of consolidated companies relate to the acquisitions of Helvetics Engineering d.o.o. and Acheter-Louer.ch & Publimmo Sàrl in the reporting year, while the disposal of consolidated companies relates to the deconsolidated companies related to the deconsolidation of TX Markets. Investments amount to CHF 24.4 million (previous year: CHF 57.6 million) and include newly recognised right-of-use assets associated with leased properties in the amount of CHF 7.5 million (particularly in the out-of-home area). The out-of-home area (Neo Advertising AG) also saw material investments in inventory (particularly digital advertising spaces). Advance payments and assets under construction include costs that can be capitalised in relation to the conversion of premises at the Werdareal site in Zurich (Stauffacherquai 8) and investments in the printing centres.

Depreciation of property, plant and equipment (incl. right-of-use assets from leases) is stable compared with the previous year and amounts to CHF 39.9 million (previous year: CHF 39.2 million). While depreciation of property, plant and equipment reduced slightly by CHF 0.6 million, depreciation relating to the capitalised right-of-use assets increased, due to the incoming items recorded, by CHF 1.4 million to CHF 16.2 million. In the reporting year, assets with a net carrying value of CHF 2.7 million (previous year: CHF 1.4 million) were also disposed of, with CHF 2.2 million attributable to the reduction in capitalised right-of-use assets. These are mainly the result of contractual changes, particularly the shortening of contract terms. Details on the pledging of property, plant and equipment are given in Note 37.