Consolidated
cash flow statement
| in CHF thousand | Notes | 1.4.2011 to 30.9.2011 reviewed |
1.4.2010 to 30.9.2010 reviewed1 |
|---|---|---|---|
| Cash flow from operating acitvities | |||
| Earnings | 3 558 | 3 223 | |
| Adjustments for: | |||
| – Result from the sale of investment properties | 2 | 2 795 | 0 |
| – Net financial expenses | 5 | 18 361 | 24 034 |
| – Changes in market value of investment properties | 6 | 439 | 6 346 |
| – Taxes | 4 761 | 1 659 | |
| – Depreciation | 78 | 73 | |
| – Other effects (non cash flow related) | 44 | –159 | |
| Cash flow before change in net current assets | 30 036 | 35 176 | |
| Change in net working capital | –15 219 | 63 | |
| Taxes paid | –204 | –91 | |
| Taxes received | 5 519 | 0 | |
| Interest received | 350 | 44 | |
| Net cash flow from operating activities | 20 482 | 35 192 | |
| Cash flow from investing activities | |||
| Investments in investment properties | 6 | –16 253 | –24 556 |
| Divestments of investment properties | 2 | 35 849 | 0 |
| Investments in furnishing | –73 | –8 | |
| Increase other non-current assets | –5 616 | 0 | |
| Net cash flow from investing activities | 13 907 | –24 564 |
1Amounts have been adjusted based upon the amended presentation (see 2.4 in the notes to the consolidated semi-annual financial statements).
Information contained in the notes to the consolidated semi-annual financial statements is an integral part of the consolidated semi-annual financial statements.
| in CHF thousand | Notes | 1.4.2011 to 30.9.2011 reviewed |
1.4.2010 to 30.9.2010 reviewed 1 |
|---|---|---|---|
| Cash flow from financing acitivities | |||
| Net proceeds of Bond issue | 49 126 | 0 | |
| Decrease of current loans | –16 558 | 0 | |
| Increase of mortgages | 21 126 | 7 000 | |
| Decrease of mortgages | –71 380 | –3 402 | |
| Interest paid | –19 784 | –23 904 | |
| Purchase of treasury shares | 7 | –2 164 | –2 802 |
| Sale of treasury shares | 7 | 1 343 | 2 746 |
| Distribution to non-controlling interests | 0 | –1 527 | |
| Net cash flow used in financing activities | –38 291 | –21 889 | |
| Currency translation adjustments for cash and cash equivalents | –2 267 | –3 306 | |
| Change in cash and cash equivalents | –6 169 | –14 567 | |
| 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 | 45 230 | 45 554 |
1Amounts have been adjusted based upon the amended presentation (see 2.4 in the notes to the consolidated semi-annual financial statements).
Information contained in the notes to the consolidated semi-annual financial statements is an integral part of the consolidated semi-annual financial statements.