date:Mar 27, 2014
xpenses was therefore disproportionately much lower in comparison to sales, which had a positive impact on the EBIT margin and offset the effect of the lower gross profit margin. Personnel expenses also saw a disproportionately low increase compared to sales, but rose by 6.2 % to CHF 398 million, also due to acquisitions (2012: CHF 375 million). Other operating expenses were clearly reduced compared to sales, amounting to 12.7 % in the year under review compared to 13.5 % in 2012. In absolute te