Cash and cash equivalents amounts to CHF 336 563 078 at the end of 2017 compared with CHF 541 317 980 at the end of 2016 and comprise cash in hand denominated mainly in euro and to a lesser extent in Swiss francs and British pounds.

Short-term deposits amount to nil at the end of 2017 compared to CHF 406 293 900 at the end of 2016 and include short-term deposits with an original maturity between 90 and 365 days.