Consolidated statement of cash flows
|
In CHF 1,000 |
Note |
2017 |
2016 |
|
Cash flow from operating activities |
|
|
|
|
Net profit |
|
57,604 |
45,077 |
|
Financial result and income taxes |
|
3,267 |
31,292 |
|
Operating profit (EBIT) |
|
60,871 |
76,369 |
|
|
|
|
|
|
Income from revaluations |
11 |
–24,953 |
–46,575 |
|
Depreciation and amortisation |
12 |
2,088 |
1,908 |
|
Income from disposal of investment properties |
5 |
–696 |
–3,007 |
|
Other non-cash items |
|
–499 |
–181 |
|
Changes in net working capital |
|
|
|
|
Trade receivables |
|
805 |
3,276 |
|
Other receivables and prepaid expenses |
|
–13,326 |
–2,288 |
|
Investments in properties held for sale |
|
–3,672 |
2,302 |
|
Trade payables |
|
306 |
–758 |
|
Other liabilities and accrued expenses |
|
15,105 |
1,449 |
|
Income taxes paid |
|
–7,633 |
–6,048 |
|
Net cash from operating activities (cash flow) |
|
28,397 |
26,447 |
|
|
|
|
|
|
Cash flow from investing activities |
|
|
|
|
Investments in properties |
11 |
–31,849 |
–67,219 |
|
Disposal of properties |
|
11,828 |
7,169 |
|
Purchase of tangible fixed assets and intangible assets |
12 |
–3,401 |
–1,413 |
|
Disposal of tangible fixed assets and intangible assets |
|
1,650 |
64 |
|
Acquisition of subsidiaries, net of cash acquired |
20 |
–84,228 |
–14,322 |
|
Repayment of loans to related parties |
24 |
15,000 |
15,000 |
|
Increase of financial assets, net |
|
–2,738 |
–433 |
|
Interest received |
|
53 |
401 |
|
Net cash used in investing activities |
|
–93,683 |
–60,753 |
|
|
|
|
|
|
Cash flow from financing activities |
|
|
|
|
Share capital increase |
19 |
- |
148,400 |
|
Transaction costs relating to the initial public offering |
19 |
- |
–7,555 |
|
Repayment of financial liabilities, net |
|
–216,093 |
–132,971 |
|
Bond issuance |
|
319,222 |
99,849 |
|
Distribution to shareholders |
|
–30,080 |
–25,000 |
|
Distribution to non-controlling interests |
|
–117 |
–117 |
|
Purchase of treasury shares |
|
–1,135 |
- |
|
Buyout of non-controlling interests |
|
- |
–30,737 |
|
Premature settlement of derivative financial instruments |
|
–6,250 |
–5,904 |
|
Interest paid |
|
–2,663 |
–6,701 |
|
Net cash from financing activities |
|
62,885 |
39,264 |
|
|
|
|
|
|
Net change in cash and cash equivalents |
|
–2,401 |
4,957 |
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
|
52,940 |
47,983 |
|
Cash and cash equivalents at end of period |
|
50,539 |
52,940 |
The disclosures in the notes form an integral part of the consolidated financial statements.