1 Corresponds to net income before financial income, financial expenses and income taxes (EBIT).
Financial statements Swiss GAAP FER
Income statement
| In millions of CHF | Notes | 2023 | 2022 |
|---|---|---|---|
| Net turnover | 4, 5 | 1,219.2 | 987.1 |
| Other operating income | 4, 6 | 19.9 | 19.7 |
| Change in volume- and tariff-related timing differences | 4, 15 | 216.4 | 370.7 |
| Capitalised self-constructed assets | 22.5 | 20.2 | |
| Total operating income | 1,478.0 | 1,397.7 | |
| Procurement costs | 4, 5 | 899.9 | 866.2 |
| Gross profit | 578.1 | 531.5 | |
| Cost of materials and third-party supplies | 7 | 123.8 | 104.3 |
| Personnel expenses | 8 | 131.1 | 117.0 |
| Other operating expenses | 9 | 38.9 | 29.3 |
| Earnings before interest, income taxes, depreciation and amortisation | 284.3 | 280.9 | |
| Depreciation on property, plant and equipment | 13 | 126.5 | 130.8 |
| Amortisation on intangible assets | 13 | 19.6 | 24.9 |
| Earnings before interest and income taxes (EBIT)1 | 4 | 138.2 | 125.2 |
| Financial income | 10 | 2.0 | 1.7 |
| Financial expenses | 11 | 20.8 | 14.7 |
| Earnings before income taxes | 119.4 | 112.2 | |
| Income taxes | 12 | 19.4 | 15.8 |
| Net income | 100.0 | 96.4 |
Earnings per share
| CHF | 2023 | 2022 |
|---|---|---|
| Net income | 100,021,265 | 96,410,768 |
| Weighted average number of shares outstanding | 334,495,151 | 334,495,151 |
| Non-diluted earnings per share | 0.30 | 0.29 |
| Dilution from the conversion of the convertible loans | –0.01 | –0.01 |
| Diluted earnings per share | 0.29 | 0.28 |
The dilution arises from the potential conversion of the convertible loans to equity. Assuming that conversion had taken place on 1 January of the reporting year, the interest expense would have been reduced by CHF 1.4 million (previous year: CHF 2.5 million). Given that taxes are chargeable in Swissgrid’s regulated business model, the conversion would have increased net income by CHF 1.4 million (previous year: CHF 2.5 million). At the same time, the average number of shares outstanding would also have increased by 10,538,739 units (previous year: 19,181,327 units). This leads to a potential dilution of CHF –0.01 per share (previous year: CHF –0.01 per share).