Annual Report 2011-2012

Consolidated
cash flow statement

Consolidated cash flow statement
in CHF thousand Notes 1.4.2011 to 31.3.2012 1.4.2010 to 31.3.2011
       
Cash flow from operating acitvities      
Earnings   4 720 7 277
Adjustments for:      
– Result from the sale of investment properties 2 2 807 –3 867
– Net financial expenses 5 38 644 46 800
– Changes in market value of investment properties 8 2 586 17 044
– Income taxes 6 4 939 2 690
– Depreciation 9 219 150
– Other non cash flow-related effects   –129 87
Cash flow before change in net current assets   53 786 70 182
Change in net working capital   –12 019 8 056
Income taxes paid   –336 233
Income taxes received   5 603 0
Interest received   551 95
Net cash flow from operating activities   47 585 78 566
       
Cash flow from investing activities      
Investments in investment properties 8 –35 029 –50 177
Divestments of investment properties 2 36 020 98 734
Investments in furnishing 9 –343 –73
Change in other non-current assets   –4 423 –4 680
Net cash flow from investing activities   –3 775 43 804

Information contained in the notes to the consolidated annual financial statements is an integral part of the consolidated annual financial statements.

in CHF thousand Notes 1.4.2011 to 31.3.2012 1.4.2010 to 31.3.2011
       
Cash flow from financing acitivities      
Net proceeds of Bond issue   58 911 0
Decrease of current loans   –16 598 –12 035
Increase of mortgages   21 226 17 000
Decrease of mortgages   –78 430 –84 072
Interest paid   –37 135 –47 195
Purchase of treasury shares 13 –2 302 –4 775
Sale of treasury shares 13 1 343 5 604
Distribution to non-controlling interests   0 –1 527
Net cash flow used in financing activities   –52 985 –127 000
       
Currency translation adjustments for cash and cash equivalents   –2 669 –4 092
Change in cash and cash equivalents   –11 844 –8 722
Cash and cash equivalents as of the beginning of the period   51 399 60 121
Cash and cash equivalents as of the end of the period   39 555 51 399

Information contained in the notes to the consolidated annual financial statements is an integral part of the consolidated annual financial statements.

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Annual Report 2011-2012

Annual Report 2011-2012 (8.16 MB)