Consolidated statement of cash flows (condensed)
|
In CHF 1,000 |
Note |
1st half 2017 |
1st half 2016 |
|
Cash flow from operating activities |
|
|
|
|
Net profit |
|
27,652 |
19,688 |
|
Financial result and income taxes |
|
6,664 |
10,006 |
|
Operating profit (EBIT) |
|
34,317 |
29,693 |
|
|
|
|
|
|
Income from revaluations |
6 |
–17,158 |
–16,738 |
|
Depreciation and amortisation |
|
1,025 |
953 |
|
Income from disposal of investment properties |
3 |
–625 |
–907 |
|
Other non-cash items |
|
59 |
–139 |
|
Changes in net working capital |
|
|
|
|
Trade receivables |
|
796 |
3,405 |
|
Other receivables and prepaid expenses |
|
–8,658 |
–8,598 |
|
Investments in properties held for sale |
|
–982 |
–120 |
|
Trade liabilities |
|
–593 |
–422 |
|
Other liabilities and accrued expenses |
|
5,635 |
6,124 |
|
Income taxes paid |
|
–2,675 |
–121 |
|
Net cash from operating activities (cash flow) |
|
11,139 |
13,128 |
|
|
|
|
|
|
Cash flow from investing activities |
|
|
|
|
Investments in properties |
6 |
–9,619 |
–14,043 |
|
Disposal of properties |
3 |
3,491 |
6,183 |
|
Purchase of tangible fixed assets and intangible assets |
|
701 |
–732 |
|
Acquisition of subsidiaries, net of cash acquired |
|
–40,190 |
- |
|
Decrease of financial assets of related parties |
|
15,000 |
14,329 |
|
Decrease of other financial assets |
|
2,356 |
–118 |
|
Interest received |
|
139 |
171 |
|
Net cash used in investing activities |
|
–28,121 |
5,790 |
|
|
|
|
|
|
Cash flow from financing activities |
|
|
|
|
Share capital increase |
|
- |
280 |
|
Transaction costs relating to the initial public offering |
|
- |
–535 |
|
Repayment of financial liabilities, net |
|
–82,491 |
–5,983 |
|
Bond issuance |
|
140,000 |
- |
|
Distribution to shareholders |
|
–30,080 |
–16,250 |
|
Distribution to non-controlling interests |
|
- |
–117 |
|
Premature settlement of derivative financial instruments |
|
–6,250 |
- |
|
Interest paid |
|
–1,313 |
–3,582 |
|
Net cash from financing activities |
|
19,867 |
–26,187 |
|
|
|
|
|
|
Net change in cash and cash equivalents |
|
2,885 |
–7,270 |
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
|
52,940 |
47,983 |
|
Cash and cash equivalents at end of period |
|
55,824 |
40,713 |
The disclosures in the notes form an integral part of the consolidated financial statements.