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.