2.2 Contingent Liabilities and Collaterals for Third-Party Liabilities
There were no contingent liabilities as at December 31, 2023 and 2022.
The Company is part of the Belimo value-added tax group in Switzerland and is jointly and severally liable for its value-added tax liabilities to the tax authorities.
As at December 31, 2023, BELIMO Holding AG has issued a guarantee to certain banks in respect of credit facilities granted to one subsidiary in the amount of CHF 100.0 million (2022: CHF 100.0 million). The credit lines were not used as at December 31, 2023 and 2022.