Notes to the Financial Statements Hilti Corporation (22) Other transactions and balances with the shareholder For details about other transactions and balances with the shareholder see note (39.3) within the notes to the consolidated financial statements. (23) Number of employees The breakdown of employees by nationality is as follows: Country 22002200 %% 2019 % Austria 839 40% 868 40% Germany 436 21% 431 20% Liechtenstein 136 6% 143 7% Switzerland 226 11% 232 11% Other countries 478 22% 471 22% Total employees 22,,111155 110000%% 22,,114455 110000%% (24) Management report Pursuant to Article 1121 (3) of the PGR, the management report of Hilti Corporation has been combined with the consolidated management report. The consolidated management report is on pages 6 to 8 of this Financial Report. (25) Appropriation of retained earnings in CHF million 22002200 2019 Profit brought forward 2,317.8 2,185.0 Net income 343.4 426.8 At the disposal of the General Meeting 22,,666611..22 22,,661111..88 Proposal by the Board of Directors Dividend of CHF nil (2019: CHF 1160) per share – 294.0 Appropriation to other reserves – – Balance carried forward 2,661.2 2,317.8 Total 22,,666611..22 22,,661111..88 2020 Financial Report | 85