24. Retained earnings
The non-distributable retained earnings of CPH Group amounted to CHF 10.7 million at the end of the reporting year (prior year: CHF 9.9 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 | | 2025 | | 2024 |
Goodwill at cost at 1 January | | | 63 303 | | 64 040 |
Acquisition of subsidiary | 31 | | 7 059 | | 19 939 |
Spin-off of Paper Division | 32 | | - | | ‑ 20 676 |
Goodwill at cost at 31 December | | | 70 362 | | 63 303 |
Accumulated amortization and impairment at 1 January | | | ‑ 45 002 | | ‑ 62 558 |
Theoretical goodwill amortization | | | ‑ 5 837 | | ‑ 3 120 |
Spin-off of Paper Division | 32 | | - | | 20 676 |
Accumulated amortization and impairment at 31 December | | | ‑ 50 839 | | ‑ 45 002 |
Theoretical carrying value at 1 January | | | 18 301 | | 1 482 |
Theoretical carrying value at 31 December | | | 19 523 | | 18 301 |
| | | | | |
| | | | | |
in CHF thousands | | | 2025 | | 2024 |
Net result | | | 23 424 | | 4 648 |
Theoretical goodwill amortization | | | ‑ 5 837 | | ‑ 3 120 |
Theoretical net result | | | 17 587 | | 1 528 |
| | | | | |
| | | | | |
in CHF thousands | | | 31.12.2025 | | 31.12.2024 |
Shareholders’ equity | | | 203 869 | | 209 447 |
Theoretical carrying value of goodwill | | | 19 523 | | 18 301 |
Theoretical shareholders’ equity | | | 223 392 | | 227 748 |
