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MCHF 305.7 (2003: MCHF 330.9) of goodwill, MCHF 84.6 (2003: MCHF 91.6) of trademarks
and MCHF 32.2 (2003: MCHF 32.2) of amortization expenses resulted from the Leveragedbuyout
in 1997.
The acquired Mapress group contributes MCHF 394.7 to goodwill, MCHF 26.3 to patents and
technology, MCHF 5.4 to trademarks and MCHF 25.3 to amortization expenses.
10. Short-term debt
The Group maintains credit lines of MCHF 48.1 (2003: MCHF 27.0) from various lenders which
can be cancelled in the short-term. The use of these credit lines is always short-term in nature
and, accordingly, these are included in short-term debt.
At 31 December 2004 and 2003, the Group did not have any outstanding drawings on the
above mentioned credit lines.
11. Current provisions and other current liabilities
2004 2003
MCHF MCHF
Compensation related liabilities 64.4 44.3
Accrued interest 2.4 0.8
Customer related liabilities 35.7 22.2
Other current liabilities 23.9 17.8
Current provisions 7.9 0.5
Total current provisions and other current liabilities 134.3 85.6
The acquisitions made in 2004 increased current provisions by MCHF 4.0. During 2004,
MCHF 4.7 (2003: MCHF 0.2) were further added to current provisions and MCHF 0.9
(2003: 0.3) were used. MCHF 0.1 (2003: MCHF 0.7) were credited to net income and
MCHF (0.3) (2003: MCHF 0.1) relate to currency translation effects. As per 31 December 2004,
MCHF 7.8 of current provisions are provisions for restructuring. These will be used in 2005.
12. Long-term debt
2004 2003
MCHF MCHF
Private Placement 112.0 124.9
Revolving Facility 249.2 156.1
Convertible bond 148.7
Other long-term debt 25.4 16.2
Total long-term debt 535.3 297.2
Short-term portion of long-term debt (3.6) (3.6)
Total long-term debt 531.7 293.6
Financing costs of MCHF 5.9 are deducted from the related debt instruments in 2004.
Comparative figures have not been adjusted (see Note 8).
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