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).