Financial statements Swiss GAAP FER

Cash flow statement

In millions of CHF, excluding balance sheet items held on a fiduciary basis	Notes	2021	2020
Net income		106.2	75.7
Financial expenses	11	53.5	26.0
Financial income	10	–0.9	–1.0
Current income taxes	12	25.8	17.3
Depreciation and amortisation	13	179.0	154.8
Other expenses not affecting revenue and expenditure		–	0.1
Change in provisions	21	17.3	–2.5
Change in trade accounts receivable		–55.3	–6.5
Change in other receivables		–5.5	–12.5
Change in prepaid expenses and accrued income		–14.2	–18.7
Change in volume- and tariff-related timing differences	4, 15	–279.7	–107.9
Change in trade accounts payable		112.0	27.2
Change in other current liabilities		–0.5	–2.1
Change in accrued expenses and deferred income		53.5	–3.3
Income taxes paid		–19	–8.7
Cash flow from operating activities		172.2	137.9
Gross investments in property, plant and equipment		–190.3	–165.5
Congestion proceeds received for grid investments		3.1	32.3
Net investments in property, plant and equipment	13	–187.2	–133.2
Divestment in property, plant and equipment		1.1	0.2
Investments in intangible assets	13	–18.3	–12.6
Dividends received		0.5	0.7
Cash flow from investing activities		–203.9	–144.9
Change in current financial liabilities		–170.9	–169.2
Issuing of bonds		360.0	555.0
Repayment of bonds		0.0	–350.0
Interest paid		–47	–26.3
Dividends paid		–37.9	–31.5
Cash flow from financing activities		104.2	–22.0
Change in cash and cash equivalents		72.5	–29.0
Composition
Cash and cash equivalents at beginning of period		200.1	229.1
Cash and cash equivalents at end of period		272.6	200.1
Change in cash and cash equivalents		72.5	–29.0

Non-cash transactions

Of the final remuneration of CHF 117.4 million paid in 2021 for the grid takeovers undertaken since 2013, 30% came from Swissgrid shares and 70% from loans. (cf. Notes 13 and 15).

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