Consolidated statement of cash flows
|
In CHF 1,000 |
Note |
2018 |
2017 |
|
Cash flow from operating activities |
|
|
|
|
Net profit |
|
54,376 |
57,604 |
|
Financial result and income taxes |
|
20,199 |
3,267 |
|
Operating profit (EBIT) |
|
74,575 |
60,871 |
|
|
|
|
|
|
Income from revaluations |
12 |
–24,157 |
–24,953 |
|
Depreciation and amortisation |
13 |
2,076 |
2,088 |
|
Income from disposal of properties |
6 |
–12,770 |
–696 |
|
Other non-cash items |
|
–809 |
–499 |
|
Changes in net working capital |
|
|
|
|
Trade receivables |
|
–2,931 |
805 |
|
Other receivables and prepaid expenses |
|
–5,317 |
–13,326 |
|
Properties held for sale |
|
–16,394 |
–3,672 |
|
Trade payables |
|
10,914 |
306 |
|
Other liabilities and accrued expenses |
|
27,477 |
15,105 |
|
Income taxes paid |
|
–4,998 |
–7,633 |
|
Net cash from operating activities (cash flow) |
|
47,666 |
28,397 |
|
|
|
|
|
|
Cash flow from investing activities |
|
|
|
|
Investments in investment properties |
12 |
–76,882 |
–31,849 |
|
Disposal of investment properties |
|
13,687 |
11,828 |
|
Purchase of tangible fixed assets and intangible assets |
13 |
–2,321 |
–3,401 |
|
Disposal of tangible fixed assets and intangible assets |
|
45 |
1,650 |
|
Acquisition of subsidiaries, net of cash acquired |
1 |
–105,478 |
–84,228 |
|
Disposal of subsidiaries, net of cash disposed |
1 |
22,683 |
- |
|
Repayment of loans to related parties |
23 |
15,000 |
15,000 |
|
Increase of financial assets |
|
–5,196 |
–3,772 |
|
Disposal of securities |
|
4,095 |
1,034 |
|
Interest received |
|
56 |
53 |
|
Net cash used in investing activities |
|
–134,312 |
–93,683 |
|
|
|
|
|
|
Cash flow from financing activities |
|
|
|
|
Increase of financial liabilities, net |
|
8,359 |
–216,093 |
|
Bond issuance |
|
99,647 |
319,222 |
|
Distribution to shareholders |
|
–30,062 |
–30,080 |
|
Distribution to non-controlling interests |
|
–117 |
–117 |
|
Purchase of treasury shares |
20 |
–5,504 |
–1,135 |
|
Premature settlement of derivative financial instruments |
|
- |
–6,250 |
|
Interest paid |
|
–2,972 |
–2,663 |
|
Net cash from financing activities |
|
69,352 |
62,885 |
|
|
|
|
|
|
Net change in cash and cash equivalents |
|
–17,293 |
–2,401 |
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
|
50,539 |
52,940 |
|
Cash and cash equivalents at end of period |
|
33,245 |
50,539 |
The disclosures in the notes form an integral part of the consolidated financial statements.