Consolidated statement of cash flows
|
In CHF 1,000 |
Note |
1st half 2018 |
1st half 2017 |
|
Cash flow from operating activities |
|
|
|
|
Net profit |
|
21,706 |
27,652 |
|
Financial result and income taxes |
|
7,505 |
6,664 |
|
Operating profit (EBIT) |
|
29,211 |
34,317 |
|
|
|
|
|
|
Income from revaluations |
6 |
–2,687 |
–17,158 |
|
Depreciation and amortisation |
|
996 |
1,025 |
|
Income from disposal of investment properties |
3 |
–7,882 |
–625 |
|
Other non-cash items |
|
–232 |
59 |
|
Changes in net working capital |
|
|
|
|
Trade receivables |
|
–4,171 |
796 |
|
Other receivables and prepaid expenses |
|
–3,731 |
–8,658 |
|
Investments in properties held for sale |
|
–6,596 |
–982 |
|
Trade payables |
|
4,830 |
–593 |
|
Other liabilities and accrued expenses |
|
13,411 |
5,635 |
|
Income taxes paid |
|
–2,279 |
–2,675 |
|
Net cash from operating activities (cash flow) |
|
20,870 |
11,139 |
|
|
|
|
|
|
Cash flow from investing activities |
|
|
|
|
Investments in properties |
6 |
–60,159 |
–9,619 |
|
Disposal of properties |
|
10,382 |
3,491 |
|
Purchase of tangible fixed assets and intangible assets |
|
–1,022 |
–873 |
|
Disposal of tangible fixed assets and intangible assets |
|
60 |
1,575 |
|
Acquisition of subsidiaries, net of cash acquired |
|
–94,394 |
–40,190 |
|
Disposal of subsidiaries, net of cash disposed |
|
22,683 |
- |
|
Repayment of loans to related parties |
|
15,000 |
15,000 |
|
Increase of financial assets, net |
|
–5,029 |
1,866 |
|
Disposal of securities, net |
|
4,095 |
490 |
|
Interest received |
|
15 |
139 |
|
Net cash used in investing activities |
|
–108,368 |
–28,121 |
|
|
|
|
|
|
Cash flow from financing activities |
|
|
|
|
Repayment of financial liabilities, net |
|
–3,946 |
–82,491 |
|
Bond issuance |
|
99,647 |
140,000 |
|
Distribution to shareholders |
|
–30,062 |
–30,080 |
|
Distribution to non-controlling interests |
|
–117 |
- |
|
Purchase of treasury shares |
|
–5,504 |
- |
|
Premature settlement of derivative financial instruments |
|
- |
–6,250 |
|
Interest paid |
|
–1,392 |
–1,313 |
|
Net cash from financing activities |
|
58,627 |
19,867 |
|
|
|
|
|
|
Net change in cash and cash equivalents |
|
–28,872 |
2,885 |
|
|
|
|
|
|
Cash and cash equivalents at beginning of period |
|
50,539 |
52,940 |
|
Cash and cash equivalents at end of period |
|
21,667 |
55,824 |
The disclosures in the notes form an integral part of the consolidated financial statements.