Consolidated statement of cash flows

For the year ended 31 December

In 1,000 CHF

Note

2016

2015 represented

Cash flows from operating activities

 

 

 

Profit for the period

 

118,493

74,617

Adjustments for non-cash items:

 

 

 

Interest income

 

(99,918)

(92,146)

Interest expenses

 

22,643

24,882

Income tax expenses

12

21,903

12,479

Depreciation

19

5,983

5,659

Amortisation

20

21,176

18,128

Losses on disposals of property and equipment and intangible assets

10

0

16

Income from associates

21

(3,393)

(3,024)

 

 

 

 

Changes in

 

 

 

(Increase) / decrease in receivables from business unit Payment, net

 

(113,436)

106,176

(Increase) / decrease in receivables from business unit Consumer Finance, net

 

9,794

1,815

(Increase) / decrease in inventories

16

(11)

(77)

(Increase) / decrease in other trade receivables and other receivables

 

7,522

(936)

(Increase) / decrease in prepaid expenses

 

(1,429)

11,948

Increase / (decrease) in payables to counterparties

23

59,731

4,605

Increase / (decrease) in other trade payables

 

(2,190)

8,252

Increase / (decrease) in other payables

 

(3,188)

(1,429)

Increase / (decrease) in accrued expenses and deferred income

 

31,777

(5,550)

Increase / (decrease) in provisions

 

509

122

Increase / (decrease) in employee benefit obligations charged to the income statement

 

66

2,336

(Increase) / decrease in financial investments available for sale

22

(17,280)

0

 

 

 

 

Foreign exchange and other financial items

 

182

(181)

Interest received

 

98,319

90,570

Interest paid

 

(20,769)

(20,896)

Income tax paid

 

(5,344)

(13,552)

 

 

 

 

Net cash from / (used in) operating activities

 

131,140

223,814

 

 

 

 

Cash flows from investing activities

 

 

 

Acquisition of property and equipment

19

(6,820)

(9,481)

Disposals of property and equipment

 

464

173

Acquisition of other intangible assets

20

(21,085)

(12,345)

Acquisition of subsidiaries, net of cash acquired

3

(5,025)

0

Acquisition of investments in associates

21

(3,620)

(215)

Dividends received from associates

21

1,500

1,500

 

 

 

 

Net cash from / (used in) investing activities

 

(34,202)

(20,368)

 

 

 

 

Cash flows from financing activities

 

 

 

Proceeds from interest-bearing liabilities

27

399,446

600,510

Repayment of interest-bearing liabilities

27

(524,715)

(706,564)

Dividends paid

31

(20,000)

(20,000)

Issue of share capital to non-controlling interests by subsidiaries

 

0

0

Net cash from / (used in) financing activities

 

(145,269)

(126,054)

 

 

 

 

Net increase in cash and cash equivalents

 

(48,331)

77,392

Cash and cash equivalents at 1 January

 

90,002

12,429

Effect of exchange rate fluctuations on cash held

 

(182)

181

 

 

 

 

Cash and cash equivalents at 31 December

14

41,489

90,002