REPOWER

Consolidated cash flow statement

Consolidated cash flow statement

Consolidated cash flow statement
CHF thousands   Note 2011 2012
           
           
  Group profit including minority interests   54,178 30,861
  Depreciation/amortisation and impairment 9/10 91,708 65,377
  Impairment of non-current assets held for sale 28 - 3,697
  Own costs capitalised 9/10 -16,791 -16,379
  Change in provisions 20 -1,646 772
  Change in deferred taxes 7 -9,775 -5,582
  Share of results of associates and partner plants 6 9,652 -504
  Dividends from associates and partner plants 6 337 260
  Compound interest from non-current liabilities   855 1,028
  Reversal of prepayments received for transport rights   -54,291 -
  Other income and expenses not affecting cash   18,184 7,644
  Change in net current assets 24 45,877 -33,625
Cash flow from operating activities     138,288 53,549
           
  Property, plant and equipment - Investments 9 -85,773 -108,896
    - Disposals   5,136 3,022
    - Disposals of tangible assets held for sale 28 - 184
  Intangible assets - Investments 10 -6,659 -5,156
    - Disposals   - -
  Group companies - Investments 27 - -
    - Disposals 27 - -37
  Investments in associates and partner plants - Investments 6 -1,550 -332
    - Disposals 6 3,739 241
  Non-current financial assets - Investments 11 -6,552 -
    - Disposals   100 1,183
Cash flow from investing activities     -91,559 -109,791
           
  Additions to financial liabilities 18 10,640 8,353
  Repayment of financial liabilities 18/23 -50,168 -24,670
  Dividend payments   -27,225 -17,027
  Purchase of treasury shares   28 -
  Sale of treasury shares   -30 -
  Purchase/Sale of minority interest     20,968 4,900
  Capital increase through minority interests   8,121 498
Cash flow from financing activities     -37,666 -27,946
           
Translation differences   -7,988 -369
           
Change in cash and cash equivalents     1,075 -84,557
Cash and cash equivalents at 1 January     344,267 345,342
Cash and cash equivalents at 31 December     345,342 260,785
           
Cash flow from operating activities covers:      
  Interest received     3,111 1,588
  Interest paid     -18,586 -16,601
  Income taxes paid     -42,316 -49,982

The Notes are an integral part of these consolidated financial statements.