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 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
						-
Equity at 1 January 2026	7,391	–137	17,711	1,184,043	–33,218	1,175,790	54,143	1,229,933
Group earnings	-	-	-	31,170	-	31,170	2,521	33,691
Effect of currency translation	-	-	-	-	–1,636	–1,636	–429	–2,065
Dividends	-	-	-	–40,646	-	–40,646	–3,273	–43,919
Purchase/sale of treasury shares	-	2	–1	-	-	1	-	1
Purchase/sale of minorities	-	-	-	-	464	464	5,212	5,676
Equity at 30 June 2026	7,391	–135	17,710	1,174,567	–34,390	1,165,143	58,174	1,223,317