Consolidated statement of cash flows

For the year ended 31 December

In 1,000 CHF

Note

2018

2017

Cash flows from operating activities

 

 

 

Profit for the period

 

106,393

191,631

Adjustments for non-cash items:

 

 

 

Interest income

 

(106,725)

(96,807)

Interest expenses

 

11,868

19,479

Income tax expenses

12

17,930

35,563

Depreciation

20

3,732

4,522

Amortisation

21

24,328

15,080

Losses on disposals of property and equipment and intangible assets

10

386

1,441

Income from associates

22

(30,234)

(7,386)

Gain on sale of discontinued operations

 

0

(134,747)

 

 

 

 

Changes in

 

 

 

(Increase) / decrease in receivables from business unit Payment

 

60,942

(43,193)

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

 

(102,157)

(85,283)

(Increase) / decrease in inventories

 

293

(792)

(Increase) / decrease in other receivables

 

2,371

74,884

(Increase) / decrease in prepaid expenses

 

(10,359)

(17,661)

Increase / (decrease) in payables to counterparties

 

39,377

20,165

Increase / (decrease) in other trade payables

 

(10,858)

(851)

Increase / (decrease) in other payables

 

2,090

(394)

Increase / (decrease) in accrued expenses and deferred income 1)

 

(1,123)

(7,877)

Increase / (decrease) in provisions

 

(584)

6,649

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

 

10,570

(2,582)

(Increase) / decrease in financial investments available for sale

23

0

(6,428)

 

 

 

 

Foreign exchange and other financial items

 

33

119

Interest received

 

105,330

95,226

Interest paid

 

(11,358)

(17,885)

Income tax paid

 

(12,518)

(8,754)

 

 

 

 

Net cash from / (used in) operating activities

 

99,727

34,120

 

 

 

 

Cash flows from investing activities

 

 

 

Acquisition of property and equipment

20

(2,421)

(5,157)

Disposals of property and equipment

 

163

7,094

Acquisition of other intangible assets

21

(14,874)

(22,249)

Disposals of other intangible assets

 

404

8,436

Acquisition of subsidiaries, net of cash acquired

3

(179,179)

(23,031)

Disposals of subsidiaries, net of cash disposed

3/36

3,223

177,105

Dividends received from associates

22

1,500

1,500

 

 

 

 

Net cash from / (used in) investing activities

 

(191,184)

143,697

 

 

 

 

Cash flows from financing activities

 

 

 

Proceeds from interest-bearing liabilities

28

1,017,980

692,881

Repayment of interest-bearing liabilities

28

(731,378)

(849,922)

Dividends paid

32

(150,000)

(40,000)

 

 

 

 

Net cash from / (used in) financing activities

 

136,602

(197,041)

 

 

 

 

Net increase in cash and cash equivalents

 

45,145

(19,224)

Cash and cash equivalents at 1 January

 

22,146

41,489

Effect of exchange rate fluctuations on cash held

 

(33)

(119)

 

 

 

 

Cash and cash equivalents at 31 December

14

67,258

22,146