Financial Report – Financial statements of
Zehnder Group AG

Balance sheet of Zehnder Group AG

CHF million	Notes	31 December 2025	31 December 2024
Assets
Liquid assets		0.8	0.4
Other short-term receivables	1	4.2	3.5
Prepayments and accrued income		0.1	0.1
Current assets		5.1	4.0
Financial assets	2	48.8	73.5
Participations	3	427.4	402.1
Non-current assets		476.2	475.7
Total assets		481.3	479.6
Liabilities & shareholders’ equity
Short-term interest-bearing liabilities	4	1.5	16.0
Other short-term liabilities	5	0.9	-
Accruals and deferred income		0.6	0.7
Short-term provisions		0.2	-
Current liabilities		3.1	16.7
Long-term interest-bearing liabilities	6	71.0	56.9
Non-current liabilities		71.0	56.9
Total liabilities		74.1	73.7
Share capital	7	0.6	0.6
Legal retained earnings		12.2	12.2
Voluntary retained earnings
• Voluntary retained earnings		4.2	4.2
• Available earnings
– Profit carried forward		383.7	376.0
– Net profit for the year		14.0	18.8
Own shares	8	–7.4	–5.8
Shareholders’ equity		407.3	406.0
Total liabilities and shareholders’ equity		481.3	479.6