Statutory financial statements
Cash flow statement
| In millions of CHF, excluding balance sheet items held on fiduciary basis | Notes | 2021 | 2020 |
|---|---|---|---|
| Profit for the year | 104.7 | 71.1 | |
| Financial expenses | 53.5 | 26.0 | |
| Financial income | –0.9 | –1.0 | |
| Current income taxes | 25.8 | 17.3 | |
| Depreciation and amortisation | 180.5 | 159.4 | |
| Other expenses not affecting revenue and expenditure | – | 0.1 | |
| Change in provisions | –2.4 | –1.2 | |
| 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 | –260.0 | –109.2 | |
| 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 | –19.0 | –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 | –187.2 | –133.2 | |
| Divestment in property, plant and equipment | 1.1 | 0.2 | |
| Investments in intangible assets | –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 | – | –350.0 | |
| Interest paid | –47.0 | –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.