24. Retained earnings
The non-distributable retained earnings of CPH Group AG amounted to CHF 9.9 million at the end of 2024 (prior year: CHF 17.2 million).
Goodwill arising from acquisitions is offset against retained earnings in shareholders’ equity at the time of the acquisition. The impact of a theoretical capitalization of goodwill on the consolidated balance sheet and income statement, applying a five-year useful life, is shown below:
in CHF thousands | Note | | 2024 | | 2023 |
Goodwill at cost at 1 January | | | 64 040 | | 63 021 |
Acquisition of subsidiary | 33, 32 | | 19 939 | | 1 019 |
Spin-off of Paper Division | 34 | | ‑ 20 676 | | - |
Goodwill at cost at 31 December | | | 63 303 | | 64 040 |
Accumulated amortization and impairment at 1 January | | | ‑ 62 558 | | ‑ 61 921 |
Theoretical goodwill amortization | | | ‑ 3 120 | | ‑ 637 |
Spin-off of Paper Division | 34 | | 20 676 | | - |
Accumulated amortization and impairment at 31 December | | | ‑ 45 002 | | ‑ 62 558 |
Theoretical carrying value at 1 January | | | 1 482 | | 1 100 |
Theoretical carrying value at 31 December | | | 18 301 | | 1 482 |
| | | | | |
| | | | | |
in CHF thousands | | | 2024 | | 2023 |
Net result | | | 4 648 | | 79 006 |
Theoretical goodwill amortization | | | ‑ 3 120 | | ‑ 637 |
Theoretical net result | | | 1 528 | | 78 369 |
| | | | | |
| | | | | |
in CHF thousands | | | 31.12.2024 | | 31.12.2023 |
Shareholders’ equity | | | 209 447 | | 436 271 |
Theoretical carrying value of goodwill | | | 18 301 | | 1 482 |
Theoretical shareholders’ equity | | | 227 748 | | 437 753 |
