2.2 Financial assets and financial receivables
|in CHF mn||2022||2021|
|Time deposit investments||70.0||–|
|Other current financial assets||0.3||–|
|Current financial assets||89.1||20.0|
|Receivables from loans||1.3||1.7|
|Other current financial assets||38.1||121.3|
|Current financial receivables||39.4||123.0|
|Non-current loans to third parties||0.6||0.6|
|Non-current loans to associates / joint ventures / related parties||170.3||153.8|
|Other non-current financial assets||2.7||1.6|
|Non-current financial assets||208.0||193.5|
The rise in current financial assets resulted mainly from investments in time deposits amounting to CHF 70.0 million.
Current financial receivables decreased mainly from SMG Swiss Marketplace Group AG. CHF 64.2 million was offset against loan liabilities, the remaining CHF 25.6 million was paid.
Non-current financial assets increased by CHF 14.5 million in the financial year. Compared to the previous year, the amount loaned to General Atlantic SC B.V. has risen by the capitalised interest and the purchase price for the additional shares it acquired in SMG Swiss Marketplace Group AG. The loan to SMG Swiss Marketplace Group AG was increased by a further CHF 5.3 million to CHF 20.5 million.
In the reporting year, investments were made in other new interests such as Caeleste AG, Everon AG and Stableton Financial AG, as well as in other existing interests such as Selma Finance Oy. In the reporting year, positive changes were made to measurements associated with Selma Finance Oy and Switzerlend AG, which were recorded in other comprehensive income. See also “Financial instruments” in.
Current financial assets
Current financial assets include marketable securities, time, sight and demand deposits with an original maturity of more than three months but not more than twelve months, as well as current derivative financial instruments.
Publicly traded marketable securities are measured at quoted market prices as of the balance sheet date. Securities that are not publicly traded are measured at estimated fair value. Time, sight and demand deposits are measured at nominal value. Any realised and unrealised price differences for these items and for marketable securities are recognised in the income statement, with the exception of unrealised price differences for derivative financial instruments designated as accounting hedges.
Non-current financial assets
Non-current financial assets include other investments, non-current loans, non-current derivative financial instruments and other non-current financial assets.
Other investments (less than 20 per cent of the voting rights) are stated at fair value. If these are equity instruments, unrealised gains / losses – net after taxes – are recognised as other comprehensive income directly in equity until realised. If they are not equity instruments, they are treated at fair value and all changes in the measurement of assets are recognised in the net income / (loss).
Non-current loans are measured at amortised cost.
Non-current derivative financial instruments (fair value through profit and loss) are measured at fair value. Both realised and unrealised price differences are recognised in the income statement, with the exception of those for derivative financial instruments designated as cash flow hedges.
Other non-current financial assets (“fair value through other comprehensive income”) are also measured at fair value. Unrealised gains – net after taxes – are recognised as other comprehensive income. Impairment losses are recognised in the income statement.