13. Income taxes
| In millions of CHF | 2025 | 2024 | ||
|---|---|---|---|---|
| Current income taxes | 18.7 | 21.7 | ||
| Change in deferred taxes | –2.3 | –2.0 | ||
| 16.4 | 19.7 |
An average rate of 15.7% (previous year: 15.9%) was used to calculate the current income taxes and, in 2025, deferred taxes were calculated based on an expected rate of 15.6% (previous year: 15.7%).
The effective average tax rate based on earnings before tax amounted to 15.2% (previous year: 16.0%).