Changes in consolidated shareholders’ equity

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

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
						-
Equity at 1 January 2022	7,391	–19	157,680	643,117	–10,367	797,802	85,524	883,326
Group earnings	-	-	-	40,829	-	40,829	5,163	45,992
Effect of currency translation	-	-	-	-	–15,906	–15,906	–2,882	–18,788
Dividends	-	-	–33,259	-	-	–33,259	–1,193	–34,452
Purchase/sale of treasury shares	-	–5	7	-	-	2	-	2
Purchase/sale of minorities	-	-	-	–22	–38	–60	–230	–290
Equity at 31 December 2022	7,391	–24	124,428	683,924	–26,311	789,408	86,382	875,790

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