Consolidated cash flow statement

CHF thousand	Note	2024	2023

Group earnings		138,212	299,822
Income taxes	14	27,782	50,555
Share of earnings from associates and joint ventures	5	–603	–404
Net financial income	13	9,186	20,373
Depreciation/amortisation, impairment and reversal of impairment of tangible and intangible assets	11/12	60,692	70,115
Gain/loss on the disposals of tangible and intangible assets		849	–6,105
Change in non-current provisions (without interest)		270	492
Income from insurance benefits on tangible assets		–525	-
Other non-cash income and expenses		–761	–12
Dividends from associates and joint ventures	17	424	1,504
Income taxes paid		–54,867	–1,663
Other financial cash outflow and inflow		–5,257	1,586
Cash flow from operating activities before changes in net working capital		175,402	436,263

Changes
Inventory		695	–1,860
Trade accounts receivable		26,078	56,834
Other receivables (without income taxes)		29,523	35,570
Prepaid expenses and accrued income		–37,119	63,494
Replacement values of held for trading positions		31,755	–98,176
Current provisions		5,427	1,007
Trade accounts payable		–13,465	–13,678
Other current liabilities (without income taxes)		–4,788	–18,443
Deferred income and accrued expenses		–9,652	–80,020
Cash flow from operating activities		203,856	380,991

CHF thousand	Note	2024	2023


Additions of tangible assets	15	–74,055	–96,976
Subsidies received for power plants	15	3,334	15,476
Income from insurance benefits on tangible assets		525	-
Disposals of tangible assets		174	1,346
Additions of current and non-current financial assets	18/25	–1,524	–232,142
Disposals of current and non-current financial assets	18/25	180,095	79,930
Additions of intangible assets	16	–3,929	–4,518
Additions of group companies		–10,111	-
Payments for additions of investments in associates and joint ventures	17	–5,922	–2,467
Purchase of minorities		–60,507	-
Dividends received from third parties		501	501
Interest received		11,091	4,941
Cash flow from investing activities		39,672	–233,909

Increase in financial liabilities		155,407	121,115
Repayment of financial liabilities		–327,311	–130,909
Dividend payments to Repower AG shareholders		–59,125	–36,954
Dividend payments to minorities		–622	–777
Purchase/sale of treasury shares		–40	–35
Interest paid		–15,174	–14,962
Cash flow from financing activities		–246,865	–62,522

Effect of currency translation		5,247	–6,412
Change in net cash funds		1,910	78,148
Net cash funds at 1 January		360,685	282,537
Net cash funds at 31 December	27	362,595	360,685