Annual Report 2020

4.5 Receivables

CHF million

31 Dec 2020

31 Dec 2019

Trade receivables 1

714

616

Prepayments to suppliers

8

7

Other current receivables 2

356

315

Total

1,078

938

1 Of which, an amount of CHF 446 million (previous year: CHF 353 million) stems from contracts with customers pursuant to IFRS 15.

2 Includes contract assets of CHF 12 million (previous year: CHF 0 million)

Alpiq usually grants its customers payment deadlines of no longer than 30 days. In certain cases, the payment deadline can be 60 days. Trade receivables from and trade payables to the same counterparties are offset, provided that a netting agreement has been reached with the counterparties, and payment is made on a net basis. For more information, please refer to note 3.1.

Age analysis of trade receivables

 

 

 

 

31 Dec 2020

31 Dec 2019

CHF million

Gross

Impairment

Net (Balance sheet)

Gross

Impairment

Net (Balance sheet)

Not past due

668

668

577

– 1

576

1 – 90 days past due

31

– 1

30

22

 

22

91 – 180 days past due

1

– 1

6

– 6

181 – 360 days past due

3

 

3

Over 360 days past due

57

– 41

16

54

– 39

15

Total

757

– 43

714

662

– 46

616

Impairment of trade receivables

CHF million

31 Dec 2020

31 Dec 2019

Carrying amount before impairment

757

662

Of which, impaired

– 43

– 46

Impairment at beginning of year

– 46

– 42

Impairment charge for the year 1

– 1

– 9

Amounts written off as uncollectible

1

1

Unused amounts reversed

2

2

Currency translation differences

1

2

Impairment at end of year

– 43

– 46

1 Of which, an amount of CHF – 1 million (previous year: CHF – 9 million) stems from contracts with customers pursuant to IFRS 15.

The impairment comprises specific bad debt allowances of CHF 42 million (previous year: CHF 45 million) that were recognised for receivables with concrete indications of a default risk (e.g. insolvency). In accordance with the expected credit loss model, it also includes general bad debt allowances of CHF 1 million (CHF 1 million) due to the inherent default risk for receivables. For this, individual probabilities of default are calculated for each counterparty amounting to between 0.0 % and 19.4 % (previous year: between 0.0 % and 19.3 %), depending on the maturity of the trade receivables.

Accounting policies

The accounting policies for financial receivables are disclosed in note 3.2.

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