Consolidated cash flow statement
|
CHF thousand |
Note |
2021 |
2020 |
|
|
|
|
|
|
Group earnings |
|
47,093 |
41,227 |
|
Income taxes |
14 |
17,637 |
23,717 |
|
Share of earnings from associates and joint ventures |
5 |
3,498 |
–4,798 |
|
Net financial income |
13 |
17,114 |
11,978 |
|
Depreciation/amortisation, impairment and reversal of impairment of tangible and intangible assets |
11/12 |
55,111 |
51,767 |
|
Gain/loss on the disposals of tangible and intangible assets |
|
1,496 |
1,240 |
|
Result from sales of associates and joint ventures |
4 |
–1,830 |
- |
|
Change in non-current provisions (without interest) |
|
1,346 |
18,198 |
|
Other non-cash income and expenses |
|
–4,324 |
–1,837 |
|
Dividends from associates and joint ventures |
17 |
1,751 |
426 |
|
Income taxes paid |
|
–33,322 |
–6,795 |
|
Other financial cash outflow and inflow |
|
–4,175 |
5,990 |
|
Cash flow from operating activities before changes in net working capital |
|
101,395 |
141,113 |
|
|
|
|
|
|
Changes |
|
|
|
|
Inventory |
|
–24,195 |
–4,889 |
|
Trade accounts receivable |
|
–32,142 |
6,174 |
|
Other receivables (without income taxes) |
|
–71,352 |
–5,575 |
|
Prepaid expenses and accrued income |
|
–184,076 |
363 |
|
Replacement values of held for trading positions |
|
6,155 |
12,924 |
|
Current provisions |
|
–1,082 |
6,939 |
|
Trade accounts payable |
|
13,261 |
782 |
|
Other current liabilities (without income taxes) |
|
129,805 |
6,581 |
|
Deferred income and accrued expenses |
|
181,415 |
–5,654 |
|
Cash flow from operating activities |
|
119,184 |
158,758 |
|
CHF thousand |
Note |
2021 |
2020 |
|
|
|
|
|
|
|
|
|
|
|
Additions of tangible assets |
15 |
–74,147 |
–48,019 |
|
Subsidies received for power plants |
15 |
5,615 |
2,053 |
|
Disposals of tangible assets |
|
7,120 |
325 |
|
Additions of current and non-current financial assets |
18/24 |
–64,521 |
–98,693 |
|
Disposals of current and non-current financial assets |
18/24 |
108,998 |
18,112 |
|
Additions of intangible assets |
16 |
–29,734 |
–2,675 |
|
Additions of group companies |
|
11 |
–39,567 |
|
Payments for additions of investments in associates and joint ventures |
17 |
- |
–428 |
|
Payments received from disposals of investments in associates and joint ventures |
17 |
9,733 |
- |
|
Dividends received from third parties |
|
262 |
189 |
|
Interest received |
|
12 |
1,337 |
|
Cash flow from investing activities |
|
–36,651 |
–167,366 |
|
|
|
|
|
|
Capital increase |
|
- |
3,409 |
|
Increase in financial liabilities |
|
78,079 |
10,816 |
|
Repayment of financial liabilities |
|
–50,487 |
–40,882 |
|
Dividend payments |
|
–22,779 |
–19,448 |
|
Purchase/sale of treasury shares |
|
9 |
–3 |
|
Interest paid |
|
–8,374 |
–9,840 |
|
Cash flow from financing activities |
|
–3,552 |
–55,948 |
|
|
|
|
|
|
Effect of currency translation |
|
–10,044 |
–1,331 |
|
Change in cash and cash equivalents |
|
68,937 |
–65,887 |
|
Cash and cash equivalents at 1 January |
|
301,244 |
367,131 |
|
Cash and cash equivalents at 31 December |
26 |
370,181 |
301,244 |
The payment of CHF 9,733 thousand received from disposals of investments in associates and joint ventures comprises a consideration received by Repower for the sale of its investments in EL.IT.E. S.p.A. and Aerochetto S.r.l. (see the “Disposal of other associates” section).
The payment of CHF 39,567 thousand for investments in group companies in the 2020 financial year relates to the acquisition of the three Italian companies ENERGEIA CODROIPO S.R.L., ERNERGEIA VARMO S.R.L. and ENERGIA TRE S.R.L. (CHF 33,168 thousand) and the acquisition of the company Windpark Bestwig-Berlar GmbH & Co. KG (CHF 6,399 thousand), which was transferred to Repartner Wind Deutschland GmbH (see the “Additions to the scope of consolidation” section).
The payment of CHF 428 thousand for additions of investments in associates and joint ventures relates to the interest in the company EVUlution AG, newly established in 2020 (see the “Additions to the scope of consolidation” section).