Consolidated cash flow statement

 

2018

CHF

2017

CHF

  01.01.2018 – 31.12.2018  01.01.2017 – 31.12.2017
Net profit 8,656,123 40,845,777
Depreciation of fixed assets and amortisation of intangible assets 14,387,395 13,102,992
Impairment of investments 2,849,490 0
Currency effect on the Lithuania sale 3,017,328 0
Net interest expense 2,107,765 1,318,488
Other non-cash adjustments –2,273,428 –1,020,866
Change in short-term provisions 0 -5,056
Change in long-term provisions 1,345,966 1,488,652
Accounting losses (profits) from sales of fixed assets 102,914 46,740
Income from associates and joint ventures 231,316 258,559
Cash flow from operating activities before changes in working capital 30,424,870 56,035,284
As % of net sales revenue 5.42% 9.33%
     
Change in trade receivables 10,573,477 –21,892,814
Change in trade receivables from related parties –4,587,979 –35,670,382
Change in trade receivables from associated parties –212,993 1,001,590
Change in other short-term receivables 4,363,638 –4,876,801
Change in other short-term receivables from related parties –77,834 40,758
Change in inventories –10,619,709 –3,895,466
Change in prepayments –6,148,931 –6,374,108
Change in liabilities from deliveries and services –15,332,847 14,924,137
Change in other short-term liabilities –2,599,168 4,048,085
Change in other short-term liabilities to related parties –84,282,752 –8,037,378
Change in deferred income –2,778,505 10,716,136
Change in net current assets –111,703,601 –50,016,242
   
Cash flow from operating activities –81,278,732 6,019,042
As % of net sales revenue –14.49% 1.00%
     
Investments in fixed assets –34,923,708 –84,787,752
Divestments of fixed assets 31,287 108,457
Investments in intangible assets –592,098 –4,221,053
Divestments of intangible assets 0 87,409
Investments in/divestments of long-term financial assets –106,538 145,916
Net cash flow from the purchase (–) / sale (+) of shareholdings –31,661,208 –1,431,333
Interest and dividends received 927 835
Cash flow from investing activities –67,251,337 –90,097,521
     
Free cash flow –148,530,069 –84,078,479
As % of net sales revenue –26.47% –14.00%
Change in short-term financial liabilities 10,204,052 –5,981,590
Change in long-term financial liabilities 118,357,205 –110,848,899
Additions/disposals of minority interests in capital and profit –6,484 –11,498
Mandatory convertible bond 0 87,485,000
Hybrid bond 0 124,173,032
Capital increase –6,749 –1,427,138
Change in capital of subsidiaries –15,304 5,408
Sale (purchase) own shares net cash flow 2,381,731 –3,263,073
Interest paid –9,554,865 –4,870,133
Dividend payments –5,598,980 –5,336,891
Cash flow from financing activities 115,760,605 79,924,218
     
Currency translation –306,882 306,768
Net change in cash and cash equivalents –33,076,346 –3,847,492
     
Cash and cash equivalents at 1 January 63,860,406 67,707,898
Cash and cash equivalents at 31 December 30,784,059 63,860,406