Consolidated statement of cash flows
|
In CHF 1,000 |
Note |
2016 |
2015 |
|
Cash flow from operating activities |
|
|
|
|
Net profit |
|
45,077 |
44,569 |
|
Financial result and income taxes |
|
31,292 |
15,640 |
|
Operating profit (EBIT) |
|
76,369 |
60,208 |
|
|
|
|
|
|
Income from revaluations |
11 |
–46,575 |
–30,958 |
|
Depreciation and amortisation |
12 |
1,908 |
1,770 |
|
Income from disposal of investment properties |
5 |
–3,007 |
–1,135 |
|
Other non-cash items |
|
–181 |
540 |
|
Changes in net working capital |
|
|
|
|
Trade receivables |
|
3,276 |
1,267 |
|
Other receivables and prepaid expenses |
|
–2,288 |
572 |
|
Investments in properties held for sale |
|
2,302 |
–9,831 |
|
Trade liabilities |
|
–758 |
–138 |
|
Other liabilities and accrued expenses |
|
1,449 |
78 |
|
Income taxes paid |
|
–6,048 |
–4,855 |
|
Net cash from operating activities (cash flow) |
|
26,447 |
17,520 |
|
|
|
|
|
|
Cash flow from investing activities |
|
|
|
|
Investments in properties |
11 |
–67,219 |
–16,013 |
|
Disposal of properties |
5 |
7,169 |
32,453 |
|
Purchase of tangible fixed assets and intangible assets |
12 |
–1,413 |
–1,953 |
|
Disposal of tangible fixed assets and intangible assets |
12 |
64 |
454 |
|
Acquisition of subsidiaries, net of cash acquired |
20 |
–14,322 |
–18,023 |
|
Decrease of financial assets of related parties |
24 |
15,000 |
–14,329 |
|
Increase of other financial assets |
|
–433 |
–268 |
|
Interest received |
|
401 |
440 |
|
Net cash used in investing activities |
|
–60,753 |
–17,240 |
|
|
|
|
|
|
Cash flow from financing activities |
|
|
|
|
Share capital increase |
19 |
148,400 |
- |
|
Transaction costs relating to the initial public offering |
19 |
–7,555 |
- |
|
Repayment of current financial liabilities |
|
–558 |
–7,145 |
|
Repayment of non-current financial liabilities, net |
|
–132,413 |
14,677 |
|
Bond issuance |
16 |
99,849 |
- |
|
Distribution to shareholder |
24 |
–25,000 |
–5,100 |
|
Distribution to non-controlling interests |
|
–117 |
–767 |
|
Buyout of non-controlling interests |
|
–30,737 |
- |
|
Premature settlement of derivative financial instruments |
|
–5,904 |
- |
|
Interest paid |
|
–6,701 |
–7,308 |
|
Net cash from financing activities |
|
39,264 |
–5,642 |
|
|
|
|
|
|
Net change in cash and cash equivalents |
|
4,957 |
–5,362 |
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
|
47,983 |
53,344 |
|
Cash and cash equivalents at end of period |
|
52,940 |
47,983 |
The disclosures in the notes form an integral part of the consolidated financial statements.