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 |