Condensed consolidated statement of cash flows

For the period ended 30 June

In 1,000 CHF

Note

2018

2017

Cash flows from operating activities

 

 

 

Profit for the period

 

49,391

42,346

Adjustments for non-cash items:

 

 

 

Interest income

4

(48,706)

(48,057)

Interest expense

4

5,427

10,474

Income tax expenses

 

12,055

5,985

Depreciation

 

1,758

2,975

Amortisation

 

8,696

8,428

(Losses) / gains on disposals of property and equipment and intangible assets

 

(5)

3

Income from associates

 

(1,718)

(1,343)

 

 

 

 

Changes in

 

 

 

(Increase) / decrease in receivables from business unit Payment, net

8

50,095

59,543

(Increase) / decrease in receivables from business unit Consumer Finance, net

9

(60,395)

(28,817)

(Increase) / decrease in inventories

10

371

22

(Increase) / decrease in other trade receivables and other receivables

 

(737)

4,882

(Increase) / decrease in prepaid expenses

 

(1,109)

(18,076)

Increase / (decrease) in payables to counterparties

 

16,985

(24,268)

Increase / (decrease) in other trade payables

 

1,990

(5,488)

Increase / (decrease) in other payables

 

8,309

(8,198)

Increase / (decrease) in accrued expenses and deferred income

 

(13,770)

3,233

Increase / (decrease) in provisions

 

(1,674)

(16)

Increase / (decrease) in employee benefit obligations charged to the income statement

 

1,117

1,492

 

 

 

 

Foreign exchange and other financial items

 

(161)

284

Interest received

 

48,001

47,267

Interest paid

 

(6,810)

(16,772)

Income tax paid

 

(7,569)

(6,990)

 

 

 

 

Net cash from / (used in) operating activities

 

61,544

28,909

 

 

 

 

Cash flows from investing activities

 

 

 

Acquisition of property and equipment

 

(290)

(595)

Acquisition of other intangible assets

 

(7,612)

(9,782)

Acquisition of investments in associates

 

(500)

0

Dividends received from associates

 

1,500

1,500

 

 

 

 

Net cash from / (used in) investing activities

 

(6,902)

(8,877)

 

 

 

 

Cash flows from financing activities

 

 

 

Proceeds from interest-bearing liabilities

12

575,777

593,336

Repayment of interest-bearing liabilities

12

(490,422)

(598,583)

Dividends paid

 

(136,350)

(40,000)

 

 

 

 

Net cash from / (used in) financing activities

 

(50,995)

(45,247)

 

 

 

 

Net (decrease) / increase in cash and cash equivalents

 

3,647

(25,215)

Cash and cash equivalents at 1 January

 

22,146

41,489

Effect of exchange rate fluctuations on cash held

 

161

(284)

 

 

 

 

Cash and cash equivalents at 30 June

 

25,954

15,990