4.5 Related parties and companies
| in CHF mn | Associates 1 | Joint ventures 1 | Employee benefit funds | Board of Directors and Group Management |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | |||||||||
| Revenues | 22.5 | 2.6 | 11.5 | 5.2 | – | – | 0.2 | 0.2 | ||||||||
| Operating expenses | (8.0) | (8.4) | (0.5) | (0.7) | (19.8) | (22.7) | – | (0.3) | ||||||||
| Net financial income / (loss) | 0.1 | (0.0) | 0.0 | (0.0) | – | – | (0.0) | (0.1) | ||||||||
| Trade accounts receivable | 1.2 | 1.1 | 0.3 | 0.4 | – | – | – | – | ||||||||
| Other current receivables | 0.3 | 2.0 | 0.7 | 0.8 | – | – | – | – | ||||||||
| Loan receivables | 20.5 | 15.6 | 0.1 | 0.9 | – | – | – | – | ||||||||
| Current financial liabilities | – | 0.0 | – | 0.9 | – | – | – | 1.5 | ||||||||
| Trade accounts payable | 1.3 | 1.5 | 0.2 | 0.7 | – | – | – | 0.0 | ||||||||
| Other current liabilities | – | – | – | – | – | – | – | – | ||||||||
| Non-current financial liabilities | – | 64.2 | 2.5 | 2.5 | – | – | – | 1.1 | ||||||||
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1 Associates and joint ventures are accounted for in the annual financial statements using the equity method.
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In the reporting year, TX Group paid compensation for rent for office premises totalling CHF 0.7 million (to end of March 2022; previous year: CHF 3.0 million) to Groupe Edipresse, over which Pierre Lamunière exerts a significant influence. In addition to the transactions disclosed in the Compensation Report in relation to members of the Board of Directors and Group Management, TX Group did not achieve any material revenues with related parties. Compensation to the Board of Directors and Group Management and transactions with companies controlled by members of TX Group Board of Directors explained in Note 1.3 and in the Compensation Report are recognised under transactions with the Board of Directors and Group Management. The leases mentioned above whose lease conditions fulfil the recognition criteria of IFRS 16 and which have been capitalised accordingly are reflected in operating expenses, in the financial result and in current and non-current financial liabilities.
There are no guarantees in place in relation to loans receivable and trade accounts receivable/payable from/to related parties and companies.
Accounting policies
Transactions with associates, joint ventures and related parties are conducted on an arm’s length basis. In addition to the information disclosed in this note, details relating to the compensation of the Board of Directors and Management Board are disclosed in the Compensation Report.