Changes in consolidated shareholders’ equity

CHF thousand	Share capital	Treasury shares	Capital reserves	Retained earnings	Accumulated translation differences	Shareholders' equity excluding minorities	Minorities	Total shareholder's equity

Equity at 1 January 2020	7,391	–16	198,320	561,525	–2,437	764,783	79,705	844,488
Group earnings				39,255		39,255	1,972	41,227
Effect of currency translation					–190	–190	–201	–391
Dividends			–18,477			–18,477	–971	–19,448
Purchase/sale of treasury shares		–3				–3		–3
Capital increase minorities						-	3,409	3,409
Equity at 31 December 2020	7,391	–19	179,843	600,780	–2,627	785,368	83,914	869,282

Equity at 1 January 2021	7,391	–19	179,843	600,780	–2,627	785,368	83,914	869,282
Group earnings				42,303		42,303	4,790	47,093
Effect of currency translation					–7,706	–7,706	–2,582	–10,288
Dividends			–22,172			–22,172	–607	–22,779
Purchase/sale of treasury shares			9			9		9
Changes in consolidation				34	–34	-	9	9
Equity at 31 December 2021	7,391	–19	157,680	643,117	–10,367	797,802	85,524	883,326

The share capital consists of 7,390,968 fully paid-up registered shares, each with a nominal value of CHF 1.00.