Gschäftsbericht 2018

Galenica financial statements 2018 | 115 Finance Notes to the consolidated financial statements of the Galenica Group Basis for measurement Weighted average in % 2018 2017 Discount rate 0.85 0.70 Salary development 1.00 1.00 Pension development 0.00 0.00 Mortality (mortality tables) BVG 2015 GT (CMI), 1.5% BVG 2015 GT (CMI), 1.5% Turnover BVG 2015 (100%–125%) BVG 2015 (100%) Sensitivity analysis The discount rate, future salary development and mortality were identified as key actuarial assumptions. Changes in these would affect the defined benefit obligation (DBO) as follows: in thousand CHF Variations in assumptions 2018 Impact on DBO Variations in assumptions 2017 Impact on DBO Discount rate +0.25% (29,186) +0.25% (27,167) –0.25% 30,949 –0.25% 29,096 Salary development +0.25% 2,626 +0.25% 2,362 –0.25% (2,140) –0.25% (2,249) Mortality +1 year  23,696 +1 year  15,951 –1 year (24,189) –1 year (16,014) The sensitivity analysis assumes potential changes in the above parameters as at year-end. Every change in a key actuarial assumption is analysed separately. Interdependencies were not taken into account. The pension obligations have an average duration of 15.4 years (previous year: 18.8 years). Cash outflows for pension payments and other obligations can be budgeted reliably. The benefit plans collect regular con- tribution payments. Furthermore, the investment strategies safeguard liquidity at all times. The employer contributions to the pension fund are estimated at CHF 26.5 million for 2019.