Accesskeys

Close Download Center

Download Center

Half-Year Report 2019

PRESS RELEASE HALF-YEAR RESULTS 2019

PRESENTATION OF THE HALF-YEAR RESULTS 2019

Consolidated statement of cash flows

In CHF 1,000

Note

1st half 2019

1st half 2018

Cash flow from operating activities

 

 

 

Net profit

 

111,903

21,706

Financial result and income taxes

 

–55,896

7,505

Operating profit (EBIT)

 

56,007

29,211

 

 

 

 

Income from revaluations

9

–27,605

–2,687

Depreciation and amortisation

 

1,207

996

Income from disposal of properties

4

–6,730

–7,882

Other non-cash items

 

–111

–232

Changes in net working capital

 

 

 

Trade receivables

 

113

–4,171

Other receivables and prepaid expenses

 

–15,018

–3,731

Properties held for sale

 

–405

–6,596

Trade payables

 

–6,603

4,830

Other liabilities and accrued expenses

 

3,847

13,411

Income taxes paid

 

–4,671

–2,279

Net cash from operating activities (cash flow)

 

31

20,870

 

 

 

 

Cash flow from investing activities

 

 

 

Investments in investment properties

 

–29,662

–60,159

Disposal of investment properties

 

18,029

10,382

Purchase of tangible fixed assets and intangible assets

 

–2,335

–1,022

Disposal of tangible fixed assets and intangible assets

 

25

60

Acquisition of subsidiaries, net of cash acquired

1

–405

–94,394

Disposal of subsidiaries, net of cash disposed

1

9,091

22,683

Repayment of loans to related parties

 

15,000

Repayment of financial assets

 

3,735

–5,029

Disposal of securities

 

4,095

Interest received

 

21

15

Net cash used in investing activities

 

–1,502

–108,368

 

 

 

 

Cash flow from financing activities

 

 

 

Repayment of financial liabilities, net

 

–123,400

–3,946

Bond issuance

 

139,590

99,647

Distribution to shareholders

 

–29,894

–30,062

Distribution to non-controlling interests

 

–117

–117

Purchase of treasury shares

 

–5,504

Interest paid

 

–988

–1,392

Net cash used in financing activities

 

–14,809

58,627

 

 

 

 

Net change in cash and cash equivalents

 

–16,280

–28,872

 

 

 

 

Cash and cash equivalents at beginning of period

 

33,245

50,539

Cash and cash equivalents at end of period

 

16,965

21,667

The disclosures in the notes form an integral part of the consolidated financial statements.