Trade and other receivables
In CHF million |
31.12.2013 |
31.12.2012 restated |
||
---|---|---|---|---|
Billed revenue | 2,321 | 2,483 | ||
Accrued revenue | 206 | 186 | ||
Allowances | (164) | (209) | ||
Total trade receivables, net | 2,363 | 2,460 | ||
Accruals from international roaming traffic | 91 | 140 | ||
Receivables from collection activities | 26 | 24 | ||
Receivables from construction contracts | 30 | 30 | ||
Other receivables | 22 | 19 | ||
Allowances | (16) | (15) | ||
Total other receivables, net | 153 | 198 | ||
Total trade and other payables | 2,516 | 2,658 |
All trade and other receivables are due within one year. Trade receivables are the object of active credit risk management which focuses on the assessment of country risks, on-going review of credit risks and the monitoring of the receivables. Credit-risk concentrations in Swisscom are minimised due to the large number of customers and their geographical spread. Risks are monitored by country.
The geographical distribution of trade receivables is as follows:
In CHF million | 31.12.2013 | 31.12.2012 | ||
---|---|---|---|---|
Switzerland | 1,701 | 1,635 | ||
Italy | 809 | 1,017 | ||
Other countries | 17 | 17 | ||
Total billed and accrued revenue | 2,527 | 2,669 | ||
Switzerland | (45) | (45) | ||
Italy | (118) | (164) | ||
Other countries | (1) | – | ||
Total allowance for receivables | (164) | (209) | ||
Total trade receivables, net | 2,363 | 2,460 |
Analysis of maturity and allowances
The due dates of trade receivables as well as the related allowances are to be analysed as follows:
31.12.2013 | 31.12.2012 | |||||||
---|---|---|---|---|---|---|---|---|
In CHF million |
Gross amount |
Allowance |
Gross amount |
Allowance |
||||
Not overdue | 1,733 | (8) | 1,683 | (7) | ||||
Past due up to 3 months | 400 | (6) | 427 | (5) | ||||
Past due 4 to 6 months | 80 | (4) | 84 | (3) | ||||
Past due 7 to 12 months | 92 | (15) | 180 | (18) | ||||
Past due over 1 year | 222 | (131) | 295 | (176) | ||||
Total | 2,527 | (164) | 2,669 | (209) |
The table below presents the changes in allowances for trade and other receivables.
In CHF million |
Trade receivables |
Other receivables |
||
---|---|---|---|---|
Balance at 31 December 2011 | 249 | 12 | ||
Additions to allowances | 78 | 3 | ||
Write-off of irrecoverable receivables subject to allowance | (107) | – | ||
Release of unused allowances | (9) | – | ||
Foreign currency translation adjustments | (2) | – | ||
Balance at 31 December 2012 | 209 | 15 | ||
Additions to allowances | 88 | 1 | ||
Write-off of irrecoverable receivables subject to allowance | (131) | – | ||
Release of unused allowances | (5) | – | ||
Foreign currency translation adjustments | 3 | – | ||
Balance at 31 December 2013 | 164 | 16 |
Construction contracts
Information on uncompleted construction contracts as of the balance sheet date is as follows:
In CHF million | 2013 | 2012 | ||
---|---|---|---|---|
Contract costs of current projects | 108 | 117 | ||
Recognised gains less losses | 3 | 8 | ||
Contract costs including share of gains and losses, net | 111 | 125 | ||
Less progress billings | (84) | (100) | ||
Total net receivables from construction contracts | 27 | 25 | ||
Thereof receivables from construction contracts | 29 | 30 | ||
Thereof liabilities from construction contracts | (2) | (5) | ||
Advance payments received | 61 | 41 |
In 2013, construction contracts generated net revenues of CHF 295 million (prior year: CHF 290 million).