1 Net sales from goods and services

Revenue from energy business and revenues from services and other usual business activities are recognised in the income statement when delivery of goods or services has been performed.

The large increase in net sales from goods and services is connected in particular with a year-on-year increase in trading volume, but also to an increase in the price of energy products. The volumes of electricity and gas sold increased by 26 per cent and 98 per cent respectively. A breakdown of net revenues by Repower business segment is presented in the note on segment reporting (see Note 37). The costs of energy procurement developed analogously (see Note 6).

Long-term contracts are recognised in accordance with the percentage of completion method. Revenues from services and other usual business activities contain revenues of CHF 6,363 thousand (prior year: CHF 4,130 thousand) from long-term contracts in the Market Switzerland segment.