Consolidated cash flow statement

 

2017

CHF

2016

CHF

  01.01.2017 – 31.12.2017 01.01.2016 – 31.12.2016
Net profit 40,845,777 19,405,777
Depreciation of fixed assets and amortisation of intangible assets 13,102,992 10,896,237
Net interest expense 1,318,488 418,959
Other non-cash adjustments -1,020,866 -873,568
Change in short-term provisions -5,056 0
Change in long-term provisions 1,488,652 2,882,025
Accounting losses (profits) from sales of fixed assets 46,740 4,227
Income from associates and joint ventures 258,559 -520,525
Cash flow from operating activities before changes in working capital 56,035,284 32,213,132
As % of net sales revenue 9.33% 5.94%
 
Change in trade receivables -21,892,814 6,204,177
Change in trade receivables from related parties -35,670,382 -1,783,062
Change in trade receivables from associated parties 1,001,590 -2,433,117
Change in other short-term receivables -4,876,801 -1,507,476
Change in other short term receivables from related parties 40,758 0
Change in inventories -3,895,466 -329,984
Change in prepayments -6,374,108 3,023,954
Change in liabilities from deliveries and services 14,924,137 -7,844,725
Change in other short-term liabilities 4,048,085 -3,179,281
Change in other short-term liabilities to related parties -8,037,378 309,938
Change in deferred income 10,716,136 -447,022
Change in net current assets -50,016,242 -7,986,596
 
Cash flow from operating activities 6,019,042 24,226,536
As % of net sales revenue 1.00% 4.47%
 
Investments in fixed assets -84,787,752 -42,217,131
Divestments of fixed assets 108,457 532,655
Investments in intangible assets -4,221,053 -945,822
Divestments of intangible assets 87,409 0
Investments in/divestments of long-term financial assets 145,916 -12,827
Net cash flow from the purchase (-) / sale (+) of shareholdings -1,431,333 -15,853,811
Interest and dividends received 835 750,945
Cash flow from investing activities -90,097,521 -57,745,991
 
Free cash flow -84,078,479 -33,519,455
As % of net sales revenue -14.00% -6.18%
Change in short-term financial liabilities -5,981,590 7,110,115
Change in long-term financial liabilities -110,848,899 58,109,487
Additions/disposals of minority interests in capital and profit -11,498 66,460
Mandatory convertible bond 87,485,000 0
Hybrid bond 124,173,032 0
Capital increase -1,427,138 -104,266
Change in capital of subsidiaries 5,408 7,597
Sale (purchase) of own shares net cash flow -3,263,073 -677,690
Interest paid -4,870,133 -1,169,903
Dividend payments -5,336,891 -5,211,195
Cash flow from financing activities 79,924,218 58,130,604
 
Currency translation 306,768 73,525
Net change in cash and cash equivalents -3,847,492 24,684,674
 
Cash and cash equivalents at 1 January 67,707,898 43,023,224
Cash and cash equivalents at 31 December 63,860,406 67,707,898