Consolidated cash flow statement
|
|
|
2018 |
2017 |
|
CHF thousand |
|
|
|
|
|
Note |
|
|
|
Group earnings |
|
16,322 |
19,999 |
|
Income taxes |
14 |
2,875 |
–363 |
|
Share of earnings from associates and joint ventures |
5 |
3,936 |
3,406 |
|
Dividends from associates and joint ventures |
17 |
1 |
- |
|
Net financial income |
13 |
16,176 |
14,143 |
|
Depreciation/amortisation, impairment and reversal of impairment of tangible and intangible assets |
11/12 |
46,592 |
45,382 |
|
Gain/loss on the disposals of tangible and intangible assets |
|
312 |
–1,402 |
|
Change in non-current provisions (without interest) |
|
–6,056 |
–2,448 |
|
Change in replacement values of held for trading positions |
|
–10,944 |
4,779 |
|
Other non-cash income and expenses |
|
–1,896 |
1,979 |
|
Other financial cash outflow and inflow |
|
–7,238 |
–13,378 |
|
Funds from Operations (FFO) |
|
60,080 |
72,097 |
|
|
|
|
|
|
Changes |
|
|
|
|
Inventory |
|
–16,406 |
–7,559 |
|
Trade accounts receivable |
|
54,182 |
–47,248 |
|
Other receivables (without income taxes) |
|
8,031 |
14,531 |
|
Prepaid expenses and accrued income |
|
–988 |
672 |
|
Current provisions |
|
–223 |
225 |
|
Trade accounts payable |
|
–50,229 |
11,474 |
|
Other current liabilities (without taxes) |
|
1,419 |
–1,087 |
|
Deferred income and accrued expenses |
|
33 |
–1,970 |
|
Income taxes paid |
|
–918 |
1,506 |
|
Cash flow from operating activities |
|
54,981 |
42,641 |
|
|
|
2018 |
2017 |
|
CHF thousand |
|
|
|
|
|
Note |
|
|
|
|
|
|
|
|
Additions of tangible assets |
15 |
–28,071 |
–23,766 |
|
Disposals of tangible assets |
|
833 |
13,309 |
|
Additions of current and non-current financial assets |
|
–115,660 |
–120,550 |
|
Disposals of current and non-current financial assets |
|
90,092 |
70,778 |
|
Additions of intangible assets |
16 |
–3,848 |
–3,101 |
|
Payments for additions of group companies |
|
–8,223 |
- |
|
Disposals of group companies (less cash and cash equivalents disposed of) |
|
- |
4,612 |
|
Dividends received from third parties |
|
224 |
303 |
|
Interest received |
|
276 |
281 |
|
Cash flow from investing activities |
|
–64,377 |
–58,134 |
|
|
|
|
|
|
Increase in financial liabilities |
|
- |
115,128 |
|
Repayment of financial liabilities |
|
–51,317 |
–34,504 |
|
Dividend payments |
|
–1,065 |
–552 |
|
Purchase/sale of treasury shares |
|
–3 |
12 |
|
Sale of minorities |
|
- |
5,745 |
|
Interest paid |
|
–9,526 |
–8,258 |
|
Cash flow from financing activities |
|
–61,911 |
77,571 |
|
|
|
|
|
|
Effect of currency translation |
|
–6,858 |
14,230 |
|
Change in cash and cash equivalents |
|
–78,165 |
76,308 |
|
Cash and cash equivalents at 1 January |
|
394,479 |
318,171 |
|
Cash and cash equivalents at 31 December |
26 |
316,314 |
394,479 |
Payments of CHF 8,223 thousand for investments in group companies in 2018 relate to the acquisition of Elettrostudio Energia S.p.A., made by way of a cash payment and a contribution of existing group companies (see the “Additions to the scope of consolidation” section).
Payments of CHF 4,612 thousand received from disposals of group companies in the 2017 financial year relate to a payment on account received on an adjustment in the purchase price for Repower’s high-voltage grid, which was transferred to Swissgrid in 2013. The payment on account received was classified as a liability.