Consolidated cash flow statement

 

2019

CHF

2018

CHF

  01.01.19 – 31.12.19  01.01.18 – 31.12.18
Net profit –271,392,961 8,656,123
Depreciation of fixed assets and amortisation of intangible assets 51,598,820 14,387,395
Impairment of investments 139,001,465 2,849,490
Currency effect on investment sales 302,162 3,017,328
Net interest expense 6,951,432 2,107,765
Other non-cash adjustments 4,980,200 –2,273,428
Change in short-term provision 4,903,055 0
Change in long-term provisions 28,583,122 1,345,966
Accounting losses (profits) from sales of fixed assets 340,651 102,914
Income from associates and joint ventures –88,558 231,316
Cash flow from operating activities before changes in working capital –34,820,611 30,424,870
As % of net sales revenue –7.62% 5.42%
     
Change in trade receivables –30,743,628 10,573,477
Change in trade receivables from related parties 38,531,527 –4,587,979
Change in trade receivables from associated companies –5,454,464 –212,993
Change in other short-term receivables 3,319,993 4,363,638
Change in other short-term receivables from related parties –4,124,066 –77,834
Change in inventories 19,400,790 –10,619,709
Change in accrued income 23,488,027 –6,148,931
Change in trade payables –16,911,498 –15,332,847
Change in trade payables to related parties –884,719 0
Change in trade payables to associated companies 219,193 0
Change in other short-term liabilities –9,536,685 –2,599,168
Change in other short-term liabilities to related parties 4,036,537 –84,282,752
Change in accrued liabilities and deferred income –1,950,278 –2,778,505
Change in net current assets 19,390,668 –111,703,601
   
Cash flow from operating activities –15,429,943 –81,278,732
As % of net sales revenue –3.38% –14.49%
     
Investments in fixed assets –8,448,639 –34,923,708
Divestments of fixed assets –90,935 31,287
Investments in intangible assets –185,546 –592,098
Divestments of intangible assets 0 0
Investments in/divestments of long-term financial assets 3,140,448 –106,538
Net cash flow from the purchase (–) / sale (+) of shareholding 37,541,383 –31,661,208
Interest and dividends received 10,653 927
Cash flow from investing activities 31,967,364 –67,251,337
     
Free Cashflow 16,537,421 –148,530,069
As % of net sales revenue 3.62% –26.47%
Change in short-term financial liabilities 8,309,126 10,204,052
Change in long-term financial liabilities –18,708,652 118,357,205
Additions/disposals of minority interests in capital and profit –16,609 –6,484
Mandatory convertible bond 1,607,927 0
Capital increase including conversion of convertible bond –963,623 –6,749
Change in capital of subsidiaries 37,500 –15,304
Sale (purchase) of own shares net cash flow 235,447 2,381,731
Interest paid –17,319,249 –9,554,865
Dividend payments 0 –5,598,980
Cash flow from financing activities –26,818,134 115,760,605
     
Currency translation –71,065 –306,882
Net change in cash and cash equivalents –10,351,778 –33,076,346
     
Cash and cash equivalents at 1 January 30,784,059 63,860,406
Cash and cash equivalents at 31 December 20,432,281 30,784,059