6. Cash and cash equivalents

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Split by currency:

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The Group invests its cash balances into a variety of current and deposit accounts mainly with two Swiss bank whose external credit rating is P-1/A-1.

All cash and cash equivalents were held either at banks or on hand as of December 31, 2025 and December 31, 2024.

Credit quality of cash and cash equivalents

The table below shows the cash and cash equivalents by credit rating of the major counterparties:

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External credit ratings of counterparties were obtained from Moody’s (P-) or Standard & Poor’s (A-)