Table of contents for the 2nd 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 six months of 2026:

In CHF million 1.1.2026 Operational changes Other changes 1 30.6.2026
Trade receivables 2,494 (80) (8) 2,406
Other operating assets 1,648 43 (4) 1,687
Trade payables (2,386) 75 17 (2,294)
Other operating liabilities (1,761) 84 5 (1,672)
Total operating assets and liabilities, net (5) 122 10 127
1 Foreign currency translation and adjustments from acquisition and sale of subsidiaries.

Other operating assets and liabilities

In CHF million 30.6.2026 31.12.2025
Other operating assets
Contract assets 196 200
Contract costs 470 487
Other receivables 177 191
Inventories 218 189
Prepaid expenses 536 443
Advance payments made 34 34
Value-added taxes receivable 3 68
Other non-financial assets 53 37
Total other operating assets 1,687 1,648
Other operating liabilities
Contract liabilities 1,063 1,114
Accruals for variable performance-related bonus 118 200
Value-added taxes payable 101 96
Accruals for annual holiday, overtime 109 63
Liabilities from collection activities 12 18
Miscellaneous liabilities 270 270
Total other operating liabilities 1,672 1,761