10 Contingent liabilities

Contingent liabilities of Schindler Holding Ltd. total CHF 1 572 million (previous year: CHF 1 502 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 group of Schindler Management Ltd. and is jointly liable for the tax group’s obligations to the Swiss Federal Tax Administration.