CONSOLIDATED STATEMENT OF CASH FLOWS
CHF 1,000 | Note | 2025 | 2024 |
|---|---|---|---|
Net profit | 152,038 | 246,507 | |
Financial result and income taxes | 15,418 | 28,011 | |
Operating profit (EBIT) | 167,456 | 274,518 | |
Revaluation of investment properties | –113,458 | –104,884 | |
Depreciation and amortisation | 116 | 2,293 | |
Income from disposal of properties | –839 | –759 | |
Income from disposal of subsidiaries | - | –122,271 | |
Other non-cash items | –14 | 291 | |
Changes in net working capital | |||
Trade receivables | 580 | –3,090 | |
Other receivables and prepaid expenses | –988 | –5,069 | |
Properties held for sale | 5,609 | 4,644 | |
Trade payables | 772 | –1,187 | |
Other liabilities and accrued expenses | –1,667 | 14,196 | |
Income taxes paid excl. taxes on disposal of investment properties | –1,632 | –3,158 | |
Cash flow from operating activities | 55,936 | 55,523 | |
Investments in investment properties | –135,779 | –376,593 | |
Disposal of investment properties | 1,642 | 18,093 | |
Income taxes paid relating to the disposal of investment properties | –1,305 | –782 | |
Purchase of tangible fixed assets and intangible assets | - | –2,218 | |
Disposal of tangible fixed assets and intangible assets | 11 | 104 | |
Acquisition of subsidiaries, net of cash acquired | - | –1,294 | |
Disposal of subsidiaries, net of cash disposed | - | 234,919 | |
Repayment of loans by related parties | 771 | 97 | |
Investments in financial assets | –4,010 | –48,939 | |
Disposal of financial assets and repayment of loans by third parties | 49,005 | 3,013 | |
Interest received | 151 | 191 | |
Cash flow from investing activities | –89,513 | –173,408 | |
Bond issuance | 99,769 | 99,783 | |
Repayment of bond | –115,000 | - | |
Increase of current financial liabilities, net | 90,000 | 54,000 | |
Distribution to shareholders | –33,170 | –31,920 | |
Distribution to non-controlling interests | - | –285 | |
Purchase of treasury shares | –2,930 | - | |
Interest paid | –6,032 | –5,464 | |
Cash flow from financing activities | 32,637 | 116,114 | |
Net change in cash and cash equivalents | –940 | –1,771 | |
Cash and cash equivalents at beginning of period | 2,145 | 3,916 | |
Cash and cash equivalents at end of period | 1,205 | 2,145 |
The disclosures in the notes form an integral part of the consolidated financial statements.