Consolidated cash flow statement
|
(CHF 1,000) 1) |
|
Notes |
|
First half 2018 |
|
First half 2017 |
|
Profit |
|
|
|
84,511 |
|
143,175 |
|
Finance result |
|
(4) |
|
9,439 |
|
7,269 |
|
Share of profit or loss of associates |
|
|
|
1,766 |
|
1,307 |
|
Gain on disposal of associates |
|
|
|
0 |
|
–36,293 |
|
Income tax expense |
|
|
|
20,070 |
|
35,747 |
|
Depreciation / amortisation of |
|
|
|
|
|
|
|
Property, plant and equipment (after recognition of government subsidies and grants) |
|
(5) |
|
116,477 |
|
116,024 |
|
Investment property |
|
(6) |
|
120 |
|
0 |
|
Intangible assets |
|
(7) |
|
7,181 |
|
4,369 |
|
Gains (–) / losses (+) on disposal of property, plant and equipment (net) |
|
|
|
238 |
|
935 |
|
Share-based payments |
|
|
|
511 |
|
560 |
|
Increase (–) / decrease (+) in inventories, trade receivables and other receivables and prepaid expenses |
|
|
|
–15,251 |
|
–16,001 |
|
Increase (+) / decrease (–) in current liabilities, excluding current financial liabilities |
|
|
|
–7,865 |
|
7,926 |
|
Increase (+) / decrease (–) in employee benefit obligations |
|
|
|
2,417 |
|
1,902 |
|
Increase (+) / decrease (–) in provision for formal expropriations plus sound insulation and resident protection |
|
|
|
51,932 |
|
–6,817 |
|
Income tax paid |
|
|
|
–76,429 |
|
–66,260 |
|
Cash flow from operating activities |
|
|
|
195,117 |
|
193,843 |
|
of which related to aircraft noise (Airport of Zurich Noise Fund) |
|
|
|
–418 |
|
–1,762 |
|
Income from noise charges |
|
(11) |
|
5,293 |
|
5,259 |
|
Expenses for formal expropriations plus sound insulation and resident protection |
|
(11) |
|
–5,711 |
|
–7,021 |
|
|
|
|
|
|
|
|
|
Investments in property, plant and equipment (projects in progress) |
|
|
|
–76,348 |
|
–70,854 |
|
Investments in investments property (incl. advance payments) |
|
|
|
–46,546 |
|
–33,571 |
|
Investments in airport operator projects |
|
|
|
–12,688 |
|
–605 |
|
Investments in associates |
|
|
|
–5,449 |
|
–3,795 |
|
Proceeds from disposal of associates |
|
|
|
0 |
|
48,537 |
|
Acquisition of subsidiaries less cash and cash equivalents acquired |
|
|
|
0 |
|
–3,495 |
|
Investments in financial assets |
|
|
|
–33,200 |
|
–10,013 |
|
Investments in fixed-term deposits due > 90 days |
|
|
|
–126,000 |
|
–238,333 |
|
Repayment of financial assets |
|
|
|
44,000 |
|
20,000 |
|
Repayment of fixed-term deposits due > 90 days |
|
|
|
185,000 |
|
50,000 |
|
Proceeds from disposal of property, plant and equipment |
|
|
|
148 |
|
87 |
|
Interest received |
|
|
|
2,100 |
|
965 |
|
Cash flow from investing activities |
|
|
|
–68,983 |
|
–241,077 |
|
of which related to aircraft noise (Airport of Zurich Noise Fund) |
|
|
|
10,800 |
|
59,987 |
|
Investments in financial assets and fixed-term deposits Airport of Zurich Noise Fund |
|
|
|
–33,200 |
|
–10,013 |
|
Repayment of current financial assets and fixed-term deposits Airport of Zurich Noise Fund |
|
|
|
44,000 |
|
70,000 |
|
|
|
|
|
0 |
|
|
|
Repayment of loan |
|
|
|
0 |
|
–250,000 |
|
Issue of new loan |
|
|
|
42,600 |
|
350,731 |
|
Repayment of other financial liabilities |
|
|
|
–1,307 |
|
–701 |
|
Repayment of lease liabilities |
|
|
|
–868 |
|
–839 |
|
Payment of dividend for the 2016 / 2015 financial years |
|
|
|
–199,550 |
|
–196,483 |
|
Purchase of treasury shares |
|
|
|
–966 |
|
–418 |
|
Interest paid |
|
|
|
–6,824 |
|
–12,850 |
|
Cash flow from financing activities |
|
|
|
–166,915 |
|
–110,560 |
|
|
|
|
|
|
|
|
|
Increase (+) / decrease (–) in cash and cash equivalents |
|
|
|
–40,781 |
|
–157,794 |
|
Balance at 1 January |
|
(8) |
|
314,615 |
|
447,778 |
|
Effect of foreign exchange differences on cash and cash equivalents held |
|
|
|
–8,692 |
|
–524 |
|
Balance as at reporting date |
|
(8) |
|
265,142 |
|
289,460 |
|
of which included in Airport of Zurich Noise Fund |
|
(8) |
|
17,127 |
|
111,198 |
1) All financial data presented here are unaudited.
