Consolidated Statement of Cash Flows
|
CHF million |
Note |
2021 |
2020 |
|
Earnings before tax from continuing operations (adjusted) 1 |
|
– 299 |
112 |
|
Adjustments for: |
|
|
|
|
Depreciation, amortisation and impairment |
4.1 / 4.2 |
126 |
80 |
|
Gain on sale of non-current assets |
|
– 3 |
|
|
Share of results of partner power plants and other associates |
4.3 |
35 |
35 |
|
Financial result (adjusted) 1 |
2.6 |
61 |
55 |
|
Other non-cash income and expenses |
|
73 |
– 52 |
|
Change in provisions (excl. interest) (adjusted) 1 |
4.7 |
63 |
82 |
|
Change in defined benefit liabilities and other non-current liabilities |
|
8 |
– 14 |
|
Change in fair value of derivative financial instruments |
|
442 |
– 67 |
|
Change in net working capital (excl. derivatives, current financial assets / liabilities and current provisions) |
|
– 744 |
– 90 |
|
Other financial income and expenses |
|
– 24 |
– 21 |
|
Income tax paid |
|
– 36 |
– 3 |
|
Net cash flows from operating activities of continuing operations |
|
– 298 |
117 |
|
Net cash flows from operating activities of discontinued operations |
|
|
– 9 |
|
Net cash flows from operating activities |
|
– 298 |
108 |
|
Property, plant and equipment and intangible assets |
|
|
|
|
Investments |
4.1 / 4.2 |
– 66 |
– 66 |
|
Proceeds from disposals |
|
3 |
|
|
Subsidiaries |
|
|
|
|
Proceeds from disposals |
5.1 |
20 |
25 |
|
Associates |
|
|
|
|
Investments |
4.3 |
– 5 |
– 1 |
|
Proceeds from disposals |
|
– 3 |
|
|
Loans receivable and financial investments |
|
|
|
|
Investments |
3.3 |
– 10 |
– 5 |
|
Change in current and non-current term deposits |
|
587 |
48 |
|
Proceeds from disposals of securities |
|
27 |
|
|
Dividends from partner power plants, other associates and financial investments |
4.3 |
24 |
22 |
|
Interest received |
|
12 |
3 |
|
Net cash flows from investing activities of continuing operations |
|
589 |
26 |
|
Net cash flows from investing activities of discontinued operations |
5.1 |
– 1 |
– 67 |
|
Net cash flows from investing activities |
|
588 |
– 41 |
|
Dividends paid |
|
– 46 |
|
|
Dividends paid to non-controlling interests |
|
– 2 |
– 1 |
|
Proceeds from financial liabilities |
3.5 |
895 |
13 |
|
Repayment of financial liabilities |
3.5 |
– 530 |
– 109 |
|
Change in non-controlling interests |
|
|
1 |
|
Distributions to hybrid investors recognised in equity outside profit and loss |
3.7 |
– 29 |
– 29 |
|
Interest paid |
|
– 36 |
– 37 |
|
Net cash flows from financing activities of continuing operations |
|
252 |
– 162 |
|
Net cash flows from financing activities of discontinued operations |
|
|
|
|
Net cash flows from financing activities |
|
252 |
– 162 |
|
Currency translation differences |
|
– 19 |
– 6 |
|
Change in cash and cash equivalents |
|
523 |
– 101 |
|
Reconciliation: |
|
|
|
|
Cash and cash equivalents at 1 January |
4.6 |
340 |
441 |
|
Cash and cash equivalents at 31 December |
4.6 |
863 |
340 |
|
Change |
|
523 |
– 101 |
1 See note 1.4