Table of contents for the 1st Interim Report 2026 report

Interim Report 2026KPIs GroupKPIs segmentsFinancial review
SummaryDepreciation and amortisation, non-operating resultsCash flowsNet asset positionFinancial outlook
Consolidated interim financial statements
Consolidated statement of comprehensive income (unaudited)Consolidated balance sheet (unaudited)Consolidated statement of cash flows (unaudited)Consolidated statement of changes in equity (unaudited)
Notes to the interim financial statements
About this report1 Changes in accounting principles2 Segment information3 Operating costs4 Dividend5 Financial liabilities6 Financial result7 Net current operating assets8 Provisions and contingent liabilities
Alternative performance measures
Reconciliation of alternative performance measures
Further information
Share informationQuarterly review 2025 and 2026Disclaimer

7 Net current operating assets

Operating assets and liabilities changed as follows in the first three months of 2026:

In CHF million 1.1.2026 Operational changes Other changes 1 31.3.2026
Trade receivables 2,494 (39) (13) 2,442
Other operating assets 1,648 155 8 1,811
Trade payables (2,386) (114) 22 (2,478)
Other operating liabilities (1,761) (48) (4) (1,813)
Total operating assets and liabilities, net (5) (46) 13 (38)
1 Foreign currency translation and adjustments from acquisition and sale of subsidiaries.

Other operating assets and liabilities

In CHF million 31.3.2026 31.12.2025
Other operating assets
Contract assets 194 199
Contract costs 476 487
Other receivables 219 191
Inventories 205 189
Prepaid expenses 530 443
Advance payments made 35 34
Value-added taxes receivable 3 68
Other non-financial assets 148 37
Total other operating assets 1,811 1,648
Other operating liabilities
Contract liabilities 1,125 1,115
Accruals for variable performance-related bonus 205 200
Value-added taxes payable 96 96
Accruals for annual holiday, overtime 94 63
Liabilities from collection activities 10 18
Miscellaneous liabilities 282 269
Total other operating liabilities 1,813 1,761