10 Contingent liabilities

Contingent liabilities of Schindler Holding Ltd. total CHF 1 351 million (previous year: CHF 1 350 million). They mainly comprise guarantees, letters of comfort, and guarantee bonds in favor of Group companies.

Schindler Holding Ltd. is part of the Swiss value-added tax (VAT) group of the Schindler Group and is therefore jointly liable for existing and future VAT claims from the Swiss Federal Tax Administration.