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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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||
| Revenues | 11.8 | 22.5 | 1.1 | 11.5 | – | – | – | 0.2 | ||||||||
| Operating expenses | (7.1) | (8.0) | (1.3) | (0.5) | (21.5) | (19.8) | – | – | ||||||||
| Financial result | (0.3) | 0.1 | 0.0 | 0.0 | – | – | – | (0.0) | ||||||||
| Trade accounts receivable | 1.3 | 1.2 | 0.0 | 0.3 | – | – | – | – | ||||||||
| Other current receivables | 0.3 | 0.3 | 0.6 | 0.7 | – | – | – | – | ||||||||
| Loan receivables | 18.6 | 20.5 | – | 0.1 | – | – | – | – | ||||||||
| Current financial liabilities | 0.3 | – | – | – | – | – | – | – | ||||||||
| Trade accounts payable | 0.8 | 1.3 | 0.1 | 0.2 | – | – | 0.0 | – | ||||||||
| Non-current financial liabilities | – | – | – | 2.5 | – | – | – | – | ||||||||
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1 Associates / joint ventures are accounted for in the annual financial statements using the equity method.
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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.
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.