Provisions (Tables)
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12 Months Ended |
Dec. 31, 2025 |
Dec. 31, 2024 |
| Other Provisions, Contingent Liabilities and Contingent Assets [Abstract] |
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| Reconciliation of Changes in Provisions |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Post-
employment
benefits | | Other provisions | | Total | | Current | | Non current | | | | (in thousands) | | At January 1, 2023 | | $ | 705 | | | $ | 1,568 | | | $ | 2,273 | | | $ | 77 | | | $ | 2,196 | | | Arising (released) during the year | | 107 | | | 257 | | | 364 | | | — | | | — | | | Released (used) during the year | | (48) | | | (76) | | | (124) | | | — | | | — | | | Released (unused) during the year | | — | | | (291) | | | (291) | | | — | | | — | | | At December 31, 2023 | | 764 | | | 1,458 | | | 2,222 | | | — | | | 2,222 | | | Arising (released) during the year | | 132 | | | 927 | | | 1,059 | | | — | | | — | | | Released (used) during the year | | — | | | — | | | — | | | — | | | — | | | Released (unused) during the year | | (268) | | | (850) | | | (1,118) | | | — | | | — | | | At December 31, 2024 | | 628 | | | 1,535 | | | 2,163 | | | 763 | | | 1,400 | | | Arising (released) during the year | | 477 | | | 1,434 | | | 1,911 | | | — | | | — | | | ACP retirement provision at acquisition date | | 593 | | | — | | | 593 | | | — | | | — | | | Released (used) during the year | | — | | | (333) | | | (333) | | | — | | | — | | | Released (unused) during the year | | (417) | | | (351) | | | (768) | | | — | | | — | | | At December 31, 2025 | | $ | 1,281 | | | $ | 2,285 | | | $ | 3,566 | | | $ | 1,454 | | | $ | 2,112 | |
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The movements in the provision for impairment of receivables were as follows: | | | | | | | | | | | | | | | | | | | | | | | | December 31, | | | | 2023 | | 2024 | | 2025 | | | | (in thousands) | | At January 1, | | $ | 2,524 | | | $ | 2,524 | | | $ | 2,301 | | | Charge for the year | | — | | | — | | | — | | | Utilized amounts | | — | | | (223) | | | (2,251) | | | Unutilized amounts | | — | | | — | | | — | | | At year end | | $ | 2,524 | | | $ | 2,301 | | | $ | 50 | |
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| Schedule of Main Assumptions Used |
The main assumptions used in the calculation of the French post-employment benefits are the following: | | | | | | | | | | | | | | | | | | | | | | | 2023 | | 2024 | | 2025 | | Discount rate | | 3.20% | | 3.35% | | 3.50% | | Salary increase | | Between 1.5% and 3.5% | | Between 1.5% and 3.5% | | Between 1.5% and 3.5% | | Retirement age | | 65-67years | | 65-67 years | | 65-67 years | | Turnover: depending on the seniority | | Decrease by age from 2% for directors, Vice presidents and managers and from 20% for other employees. 0% for executive team | | Decrease by age from 2% for directors, Vice presidents and managers and from 20% for other employees. 0% for executive team | | Decrease by age from 2% for directors, Vice presidents and managers and from 20% for other employees. 0% for executive team |
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| Disclosure of the main assumptions used in the calculation of the swiss post-employment benefits |
The main assumptions used in the calculation of the Swiss post-employment benefits are the following: | | | | | | | | | | | 2025 | | Discount rate (DR) | | 1.30% | | Interest rate (IR) for projecting savings capital | | 1.75% | | Long-term expected rate of salary increase (SI) | | 1.50% | | Rate of pension increase (PI) | | 0.00% | | Long-term expected inflation rate (social security increase rate) | | 1.00% | | Long term rate of mortality improvement (LTR) | | 1.25% | | Capital option upon retirement | | 30.00% | | Technical bases | | BVG/LPP 2020 Generation Tables | | Probability of disability | | 85% BVG/LPP 2020 | | Model for the mortality projection | | CMI 2023 |
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| Disclosure of fair value of plan assets [text block] |
Plan Assets at Fair Value for Switzerland are: | | | | | | | | | | | | | | 2025 | | Cash and cash equivalents | | $ | 100,361 | | CHF | 79,557 | | | Equity instruments | | 1,522,154 | | 1,206,622 | | | Debt Instruments (eg. Bonds) | | 1,296,339 | | 1,027,617 | | | Real estate | | 723,441 | | 573,477 | | | Others | | 539,444 | | 427,621 | | | Total plan assets as at December 31 | $ | 4,181,739 | | CHF | 3,314,894 | |
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| Disclosure of reconciliation of defined benefit obligation |
Reconciliation of defined benefit obligation | | | | | | | | | | 2025 | | Defined benefit obligation at Dec. 31 | $ | 4,348,071 | | CHF | 3,939,184 | | | Interest expense on defined benefit obligation | 46,230 | | 38,355 | | | Current service cost (employer) | 180,842 | | 150,038 | | | Contributions by plan participants | 172,442 | | 143,069 | | | Benefits (paid) / deposited | (603,125) | | (500,391) | | | Administration cost (excl. cost for managing plan assets) | 2,374 | | 1,970 | | | Actuarial (gain) / loss on defined benefit obligation | (131,148) | | (108,809) | | | Foreign exchange impact | 605,713 | | — | | | Defined benefit liability at Dec. 31 | $ | 4,621,399 | | CHF | 3,663,416 | |
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| Disclosure of reconciliation of fair value of plan assets |
Reconciliation of fair value of plan assets: | | | | | | | | | | 2025 | | Fair value of plan assets at Jan. 1 | $ | 3,750,460 | | CHF | 3,397,771 | | | Interest income on the plan assets | 39,662 | | 32,906 | |
| | | | | | | | | | Contribution by the employer | 172,442 | | 143,069 | | | Contribution by plan participants | 172,442 | | 143,069 | | | Benefits (paid) / deposited | (603,125) | | (500,391) | | | Return on plan assets excl. interest income | 118,687 | | 98,470 | | | Foreign exchange impact | 531,171 | | — | | | Fair value of plan assets at Dec. 31 | $ | 4,181,739 | | CHF | 3,314,894 | |
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| Disclosure of sensitivity analysis for actuarial assumptions |
Sensitivity analysis (DBO = Defined benefit obligation, SC = Service cost employer): | | | | | | | | | | Assumption Change | Impact on DBO in 2025 | | DBO at 31.12. with DR -0.25% | $ | 5,180,090 | | CHF | 4,106,294 | | | DBO at 31.12. with DR +0.25% | $ | 4,775,428 | | CHF | 3,785,516 | | | DBO at 31.12. with IR -0.25% | $ | 4,880,901 | | CHF | 3,869,125 | | | DBO at 31.12. with IR +0.25% | $ | 5,060,497 | | CHF | 4,011,492 | | | DBO at 31.12. with SI -0.25% | $ | 4,941,068 | | CHF | 3,916,820 | | | DBO at 31.12. with SI +0.25% | $ | 5,000,890 | | CHF | 3,964,241 | | | DBO at 31.12. with life expectancy +1 year | $ | 5,038,947 | | CHF | 3,994,409 | | | DBO at 31.12. with life expectancy -1 year | $ | 4,899,515 | | CHF | 3,883,880 | | | DBO at 31.12. with PI -0.25% | $ | 4,876,804 | | CHF | 3,865,877 | | | DBO at 31.12. with PI +0.25% | $ | 5,066,615 | | CHF | 4,016,342 | | | SC of next year with DR +0.25% 138'072 127'117 | $ | 174,178 | | CHF | 138,072 | | | SC of next year with IR +0.25% 155'262 142'156 | $ | 195,863 | | CHF | 155,262 | |
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