Consolidated statement of cash flows
|
In CHF 1,000 |
Note |
2020 |
2019 |
|
Cash flow from operating activities |
|
|
|
|
Net profit |
|
113,596 |
172,825 |
|
Financial result and income taxes |
|
22,620 |
–45,665 |
|
Operating profit (EBIT) |
|
136,216 |
127,159 |
|
Income from revaluations |
12 |
–79,378 |
–56,577 |
|
Depreciation and amortisation |
13 |
2,707 |
2,555 |
|
Income from disposal of properties |
6 |
–14,023 |
–8,235 |
|
Income from disposal of subsidiaries |
1 |
- |
–18,238 |
|
Other non-cash items |
|
–436 |
–110 |
|
Changes in net working capital |
|
|
|
|
Trade receivables |
|
356 |
836 |
|
Other receivables and prepaid expenses |
|
5,267 |
–8,883 |
|
Properties held for sale |
|
9,144 |
4,890 |
|
Trade payables |
|
–291 |
–6,495 |
|
Other liabilities and accrued expenses |
|
–2,433 |
–2,114 |
|
Income taxes paid |
|
–6,911 |
–10,931 |
|
Net cash from operating activities (cash flow) |
|
50,219 |
23,858 |
|
|
|
|
|
|
Cash flow from investing activities |
|
|
|
|
Investments in investment properties |
|
–44,599 |
–65,791 |
|
Disposal of investment properties |
|
76,265 |
18,029 |
|
Purchase of tangible fixed assets and intangible assets |
13 |
–3,165 |
–3,898 |
|
Disposal of tangible fixed assets and intangible assets |
|
71 |
27 |
|
Acquisition of subsidiaries, net of cash acquired |
1 |
–5,034 |
–42,165 |
|
Disposal of subsidiaries, net of cash disposed |
1 |
6,360 |
23,206 |
|
Disposal of associates |
|
- |
300 |
|
Investments in financial assets |
|
–2,012 |
–7,380 |
|
Disposal of financial assets |
|
4,401 |
5,750 |
|
Interest received |
|
361 |
379 |
|
Net cash from investing activities |
|
32,647 |
–71,543 |
|
|
|
|
|
|
Cash flow from financing activities |
|
|
|
|
Bond issuance |
|
- |
279,152 |
|
Repayment of bond |
|
–100,000 |
–140,000 |
|
Repayment of other current financial liabilities, net |
|
- |
–25,631 |
|
Distribution to shareholders |
|
–29,912 |
–29,881 |
|
Distribution to non-controlling interests |
|
–117 |
–117 |
|
Interest paid |
|
–4,013 |
–3,255 |
|
Net cash used in financing activities |
|
–134,042 |
80,269 |
|
|
|
|
|
|
Net change in cash and cash equivalents |
|
–51,176 |
32,585 |
|
Cash and cash equivalents at beginning of period |
|
65,830 |
33,245 |
|
Cash and cash equivalents at end of period |
|
14,654 |
65,830 |
The disclosures in the notes form an integral part of the consolidated financial statements.