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Consolidated cash flow statement

Figures in CHF thousand

Notes

2020

2019

 

 

 

 

Consolidated earnings

 

154,713

435,977

Write-downs/write-ups on investments

6

27,473

−402,438

Of which write-downs/write-ups on equity-accounted participations

6

505

9,172

Write-downs/write-ups on intangible assets

8

20,870

23,007

Write-downs/write-ups on property, plant and equipment

8

8,403

9,594

Write-downs/write-ups on receivables

 

21,450

24,188

Change in net technical provisions

11

85,842

−25,565

Change in non-technical provisions

12

26,123

−10,030

Change in provision for investment risk

13

−14,000

175,000

Loss/gain on disposal of property, plant and equipment

8

64

3

Change in deferred charges

9

55,005

173,999

Change in deferred income taxes

 

3,970

39,270

Change in receivables

10

75,549

−127,814

Change in deferred credits

9

31,174

51,932

Change in liabilities

10

−157,580

243,483

Cash flow from operating activities

 

339,056

610,606

Investment/divestment of investments

6

−426,075

−424,138

Investment/divestment of intangible assets

8

−9

−31,203

Investment/divestment of property, plant and equipment

8

−8,305

−6,809

Cash flow from investment activities

 

−434,389

−462,150

Dividends to shareholders

 

−3,500

−2,100

Dividends to non-controlling interests

 

−621

−687

Change in non-controlling interest/third parties

 

430

627

Cash flow from financing activities

 

−3,691

−2,160

Total cash flow = change in cash and cash equivalents

 

−99,024

146,296

 

 

 

 

Cash and cash equivalents opening amount at 1.1

 

658,865

512,569

Cash and cash equivalents closing amount at 31.12

 

559,841

658,865

Change in cash and cash equivalents1

 

−99,024

146,296

1

Cash and cash equivalents  operating liquidity, liquidity with custodian bank, time deposits