14. Non-current assets
Summary of property, plant and equipment 2025
| In millions of CHF | Advances and construction in progress | Substations | Lines | Properties and buildings | Other property plant and equipment | Total | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Acquisition cost at 1.1.2025 | 405.7 | 2,297.4 | 2,993.6 | 269.1 | 89.6 | 6,055.4 | ||||||
| Additions | 119.0 | 10.7 | 8.9 | 2.3 | 13.9 | 154.8 | ||||||
| Disposals | –1.2 | –11.6 | –21.7 | –1.0 | – | –35.5 | ||||||
| Reclassification | –49.9 | 24.4 | 6.1 | 16.0 | 4.2 | 0.8 | ||||||
| Acquisition cost at 31.12.2025 | 473.6 | 2,320.9 | 2,986.9 | 286.4 | 107.7 | 6,175.5 | ||||||
| Accumulated depreciation and amortisation at 1.1.2025 | 5.2 | 1,634.2 | 1,851.9 | 97.1 | 69.6 | 3,658.0 | ||||||
| Depreciation and amortisation | – | 64.7 | 46.6 | 8.2 | 14.9 | 134.4 | ||||||
| Impairment losses | 1.2 | – | – | – | – | 1.2 | ||||||
| Disposals | –1.2 | –11.4 | –16.5 | –0.6 | – | –29.7 | ||||||
| Reclassification | – | – | – | – | – | – | ||||||
| Accumulated depreciation and amortisation at 31.12.2025 | 5.2 | 1,687.5 | 1,882.0 | 104.7 | 84.5 | 3,763.9 | ||||||
| Net book value at 1.1.2025 | 400.5 | 663.2 | 1,141.7 | 172.0 | 20.0 | 2,397.4 | ||||||
| Net book value at 31.12.2025 | 468.4 | 633.4 | 1,104.9 | 181.7 | 23.2 | 2,411.6 |
Summary of property, plant and equipment 2024
| In millions of CHF | Advances and construction in progress | Substations | Lines | Properties and buildings | Other property plant and equipment | Total | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Acquisition cost at 1.1.2024 | 281.5 | 2,273.8 | 2,929.3 | 255.8 | 58.3 | 5,798.7 | ||||||
| Additions | 237.4 | 9.5 | 22.4 | 1.9 | 9.9 | 281.1 | ||||||
| Disposals | – | –2.7 | –0.6 | – | – | –3.3 | ||||||
| Reclassification | –113.2 | 16.8 | 42.5 | 11.4 | 21.4 | –21.1 | ||||||
| Acquisition cost at 31.12.2024 | 405.7 | 2,297.4 | 2,993.6 | 269.1 | 89.6 | 6,055.4 | ||||||
| Accumulated depreciation and amortisation at 1.1.2024 | 5.2 | 1,570.7 | 1,802.9 | 91.5 | 54.0 | 3,524.3 | ||||||
| Depreciation and amortisation | – | 65.8 | 49.3 | 5.6 | 15.6 | 136.3 | ||||||
| Impairment losses | – | – | – | – | – | – | ||||||
| Disposals | – | –2.3 | –0.3 | – | – | –2.6 | ||||||
| Reclassification | – | – | – | – | – | – | ||||||
| Accumulated depreciation and amortisation at 31.12.2024 | 5.2 | 1,634.2 | 1,851.9 | 97.1 | 69.6 | 3,658.0 | ||||||
| Net book value at 1.1.2024 | 276.3 | 703.1 | 1,126.4 | 164.3 | 4.3 | 2,274.4 | ||||||
| Net book value at 31.12.2024 | 400.5 | 663.2 | 1,141.7 | 172.0 | 20.0 | 2,397.4 |
Gross investments in property, plant and equipment amounted to CHF 312.5 million (previous year: CHF 287.3 million). In the reporting year, property, plant and equipment totalling CHF 156.8 million were financed through income from auctions (previous year: no financing from auction income). In addition, government grants related to assets amounting to CHF 0.9 million were received in 2025 (previous year: CHF 6.2 million). In the reporting year, project costs totalling CHF 0.8 million were reclassified from intangible assets under development to construction in progress (previous year: CHF 21.1 million reclassified from intangible assets to property, plant and equipment).
In addition, property, plant and equipment totalling CHF 23.0 million were purchased from related parties in 2025 (previous year: CHF 22.3million).
Summary of intangible assets 2025
| Intangible assets under development | Usage rights | Software | Total intangible assets | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| In millions of CHF | Purchased | Self-constructed | Total | Purchased | Self-constructed | Total | Purchased | Self-constructed | Total | Purchased | Self-constructed | Total | ||||||||||||
| Acquisition cost at 1.1.2025 | 19.7 | 7.5 | 27.2 | 191.4 | – | 191.4 | 168.6 | 69.3 | 237.9 | 379.7 | 76.8 | 456.5 | ||||||||||||
| Additions | 18.2 | 5.9 | 24.1 | – | – | – | 16.6 | 3.4 | 20.0 | 34.8 | 9.3 | 44.1 | ||||||||||||
| Disposals | – | – | – | – | – | – | – | – | – | – | – | – | ||||||||||||
| Reclassification | –5.5 | –1.6 | –7.1 | –0.5 | – | –0.5 | 4.6 | 2.2 | 6.8 | –1.4 | 0.6 | –0.8 | ||||||||||||
| Acquisition cost at 31.12.2025 | 32.4 | 11.8 | 44.2 | 190.9 | – | 190.9 | 189.8 | 74.9 | 264.7 | 413.1 | 86.7 | 499.8 | ||||||||||||
| Accumulated depreciation and amortisation at 1.1.2025 | – | – | – | 106.9 | – | 106.9 | 145.6 | 63.8 | 209.4 | 252.5 | 63.8 | 316.3 | ||||||||||||
| Depreciation and amortisation | – | – | – | 5.5 | – | 5.5 | 17.1 | 4.0 | 21.1 | 22.6 | 4.0 | 26.6 | ||||||||||||
| Impairment losses | – | – | – | – | – | – | – | – | – | – | – | – | ||||||||||||
| Disposals | – | – | – | – | – | – | – | – | – | – | – | – | ||||||||||||
| Reclassification | – | – | – | – | – | – | – | – | – | – | – | – | ||||||||||||
| Accumulated depreciation and amortisation at 31.12.2025 | – | – | – | 112.4 | – | 112.4 | 162.7 | 67.8 | 230.5 | 275.1 | 67.8 | 342.9 | ||||||||||||
| Net book value at 1.1.2025 | 19.7 | 7.5 | 27.2 | 84.5 | – | 84.5 | 23.0 | 5.5 | 28.5 | 127.2 | 13.0 | 140.2 | ||||||||||||
| Net book value at 31.12.2025 | 32.4 | 11.8 | 44.2 | 78.5 | – | 78.5 | 27.1 | 7.1 | 34.2 | 138.0 | 18.9 | 156.9 | ||||||||||||
Summary of intangible assets 2024
| Intangible assets under development | Usage rights | Software | Total intangible assets | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| In millions of CHF | Purchased | Self-constructed | Total | Purchased | Self-constructed | Total | Purchased | Self-constructed | Total | Purchased | Self-constructed | Total | ||||||||||||
| Acquisition cost at 1.1.2024 | 2.7 | 1.0 | 3.7 | 191.4 | – | 191.4 | 140.9 | 63.0 | 203.9 | 335.0 | 64.0 | 399.0 | ||||||||||||
| Additions | 16.7 | 4.8 | 21.5 | – | – | – | 11.8 | 3.1 | 14.9 | 28.5 | 7.9 | 36.4 | ||||||||||||
| Disposals | – | – | – | – | – | – | – | – | – | – | – | – | ||||||||||||
| Reclassification | 0.3 | 1.7 | 2.0 | – | – | – | 15.9 | 3.2 | 19.1 | 16.2 | 4.9 | 21.1 | ||||||||||||
| Acquisition cost at 31.12.2024 | 19.7 | 7.5 | 27.2 | 191.4 | – | 191.4 | 168.6 | 69.3 | 237.9 | 379.7 | 76.8 | 456.5 | ||||||||||||
| Accumulated depreciation and amortisation at 1.1.2024 | – | – | – | 101.2 | – | 101.2 | 131.8 | 59.4 | 191.2 | 233.0 | 59.4 | 292.4 | ||||||||||||
| Depreciation and amortisation | – | – | – | 5.7 | – | 5.7 | 13.8 | 4.4 | 18.2 | 19.5 | 4.4 | 23.9 | ||||||||||||
| Impairment losses | – | – | – | – | – | – | – | – | – | – | – | – | ||||||||||||
| Disposals | – | – | – | – | – | – | – | – | – | – | – | – | ||||||||||||
| Reclassification | – | – | – | – | – | – | – | – | – | – | – | – | ||||||||||||
| Accumulated depreciation and amortisation at 31.12.2024 | – | – | – | 106.9 | – | 106.9 | 145.6 | 63.8 | 209.4 | 252.5 | 63.8 | 316.3 | ||||||||||||
| Net book value at 1.1.2024 | 2.7 | 1.0 | 3.7 | 90.2 | – | 90.2 | 9.1 | 3.6 | 12.7 | 102.0 | 4.6 | 106.6 | ||||||||||||
| Net book value at 31.12.2024 | 19.7 | 7.5 | 27.2 | 84.5 | – | 84.5 | 23.0 | 5.5 | 28.5 | 127.2 | 13.0 | 140.2 | ||||||||||||
Intangible assets totalling CHF 0.3 million were purchased from related parties in the financial year (previous year: CHF 0.2 million).