CONSOLIDATED STATEMENT OF CASH FLOWS
CHF 1,000 |
Note |
1st half 2023 |
1st half 2022 restated |
Net result |
|
–24,429 |
125,768 |
Financial result and income taxes |
|
–1,499 |
21,906 |
Operating result (EBIT) |
|
–25,928 |
147,674 |
Revaluation of investment properties |
8 |
48,763 |
–64,129 |
Depreciation and amortisation |
|
1,849 |
1,798 |
Income from disposal of properties |
4 |
–36 |
–58,192 |
Other non-cash items |
|
–247 |
–297 |
Changes in net working capital |
|
|
|
Trade receivables |
|
2,394 |
–2,854 |
Other receivables and prepaid expenses |
|
–10,333 |
–10,030 |
Properties held for sale |
4 |
4,003 |
781 |
Trade payables |
|
–376 |
7,579 |
Other liabilities and accrued expenses |
|
8,301 |
7,406 |
Income taxes paid excl. taxes on sales of investment properties |
|
–5,422 |
–6,254 |
Cash flow from operating activities |
|
22,971 |
23,482 |
Investments in investment properties |
8 |
–4,819 |
–11,523 |
Disposal of investment properties |
4 |
- |
218,145 |
Income taxes paid relating to the disposal of investment properties |
4 |
–21,904 |
–11,015 |
Purchase of tangible fixed assets and intangible assets |
|
–3,052 |
–9,358 |
Disposal of tangible fixed assets and intangible assets |
|
159 |
78 |
Acquisition of subsidiaries, net of cash acquired |
1 |
- |
–14,118 |
Increase of loans to related parties |
|
–636 |
–175 |
Investments in financial assets |
|
–4,516 |
–1,123 |
Disposal of financial assets |
|
31 |
943 |
Interest received |
|
176 |
78 |
Cash flow from investing activities |
|
–34,561 |
171,932 |
Increase of other current financial liabilities, net |
|
45,000 |
–157,500 |
Distribution to shareholders |
|
–31,869 |
–31,902 |
Distribution to non-controlling interests |
|
–443 |
–117 |
Interest paid |
|
–1,056 |
–524 |
Cash flow from financing activities |
|
11,631 |
–190,042 |
|
|
|
|
Net change in cash and cash equivalents |
|
42 |
5,373 |
Cash and cash equivalents at beginning of period |
|
3,742 |
4,805 |
Cash and cash equivalents at end of period |
|
3,784 |
10,178 |
The disclosures in the notes form an integral part of the consolidated financial statements.