13. Inventories

CHF million

 

2023

 

2022

Raw material

 

186.1

 

163.2

Packaging material

 

123.1

 

144.7

Semi-finished and finished products

 

693.3

 

652.3

Inventory reserves

 

–81.0

 

–84.6

Total

 

921.5

 

875.6

In 2023, CHF 18.5 million (CHF 22.3 million in prior year) of the inventory reserve that existed as of year-end 2022 has been credited to the income statement.