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Consolidated cash flow statement

Figures in CHF thousand

Notes

2021

2020

 

 

 

 

Consolidated earnings

 

231,222

154,713

Write-downs/write-ups on investments

6

−281,208

27,473

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

6

426

505

Write-downs/write-ups on intangible assets

8

11,403

20,870

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

8

6,541

8,403

Write-downs/write-ups on receivables

 

21,416

21,450

Change in net technical provisions

11

121,302

85,842

Change in non-technical provisions

12

−48,681

26,123

Change in provision for investment risk

13

10,000

−14,000

Loss/gain on disposal of property, plant and equipment

8

63

64

Change in deferred charges

9

42,112

55,005

Change in deferred income taxes

 

34,417

3,970

Change in receivables

10

−76,455

75,549

Change in deferred credits

9

35,527

31,174

Change in liabilities

10

146,727

−157,580

Cash flow from operating activities

 

254,387

339,056

Investment/divestment of investments

6

−437,515

−426,075

Valuation adjustments to investments

 

61,120

0

Investment/divestment of intangible assets

8

0

−9

Investment/divestment of property, plant and equipment

8

−5,314

−8,305

Cash flow from investment activities

 

−381,708

−434,389

Dividends to shareholders

 

−3,500

−3,500

Dividends to non-controlling interests

 

−491

−621

Change in non-controlling interest/third parties

 

648

430

Cash flow from financing activities

 

−3,342

−3,691

Total cash flow = change in cash and cash equivalents

 

−130,663

−99,024

 

 

 

 

Cash and cash equivalents opening amount at 1.1

 

559,841

658,865

Cash and cash equivalents closing amount at 31.12

 

429,178

559,841

Change in cash and cash equivalents1

 

−130,663

−99,024

1

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