in EUR m | 2025 | 2024 | 2023 |
Current income tax charge | (40.6) | (43.8) | (26.8) |
Deferred tax credit | 11.2 | 30.0 | 25.8 |
Total | (29.4) | (13.8) | (1.0) |
Reconciliation of tax expense | |||
in EUR m | 2025 | 2024 | 2023 |
Loss before tax | (75.8) | (11.0) | (149.1) |
Tax at Swiss tax rate | 13.9 | 2.0 | 27.4 |
+ / - effects of | |||
Deviations from Swiss tax rate | 6.7 | 2.1 | 15.0 |
Unrecognized deferred tax assets | (29.6) | 8.7 | (28.7) |
Deferred taxes related to other periods | (2.8) | 6.7 | 3.7 |
Change in deferred tax due to tax rate change | 1.0 | (0.3) | (0.6) |
Non-deductible expenses | (30.3) | (32.3) | (20.2) |
Income not subject to tax | 3.9 | 1.6 | 7.1 |
Current taxes related to other periods or other countries | 6.0 | (1.6) | (4.0) |
Others(I) | 1.8 | (0.7) | (0.7) |
Total tax expense | (29.4) | (13.8) | (1.0) |
Weighted average effective tax rate | (38.8%) | (125.5%) | (0.7%) |
(I) Others include predominantly foreign exchange adjustments and tax risk provisions
The above table shows the expected tax expense at the Swiss tax rate of 18.4% (2024 and 2023: 18.4%) applied to the Group loss before tax and the reconciliation to the actual income tax expense.