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 2024	7,391	–68	87,483	988,195	–31,740	1,051,261	89,683	1,140,944
Group earnings	-	-	-	75,133	-	75,133	3,191	78,324
Effect of currency translation	-	-	-	-	4,956	4,956	2,571	7,527
Dividends	-	-	–59,125	-	-	–59,125	–622	–59,747
Purchase/sale of treasury shares	-	–9	3	-	-	–6	-	–6
Change from/to equity method	-	-	-	299	-	299	2,736	3,035
Purchase/sale of minorities	-	-	-	–59	4	–55	55	-
Equity at 30 June 2024	7,391	–77	28,361	1,063,568	–26,780	1,072,463	97,614	1,170,077
						-
Equity at 1 January 2025	7,391	–108	28,358	1,122,921	–31,346	1,127,216	53,466	1,180,682
Group earnings	-	-	-	44,856	-	44,856	1,852	46,708
Effect of currency translation	-	-	-	-	–1,207	–1,207	–256	–1,463
Dividends	-	-	–10,642	–37,395	-	–48,037	–615	–48,652
Purchase/sale of treasury shares	-	–18	–4	-	-	–22	-	–22
Changes in consolidation	-	-	-	598	-	598	4	602
Purchase/sale of minorities	-	-	-	-	-	-	–451	–451
Equity at 30 June 2025	7,391	–126	17,712	1,130,980	–32,553	1,123,404	54,000	1,177,404