Consolidated Statement of Cash Flows
|
CHF million |
Note |
2022 |
2021 |
|
Earnings before tax from continuing operations |
|
116 |
– 299 |
|
Adjustments for: |
|
|
|
|
Depreciation, amortisation and impairment 1 |
4.1 / 4.2 |
97 |
126 |
|
Gain on sale of non-current assets |
|
– 1 |
– 3 |
|
Share of results of partner power plants and other associates |
4.3 |
59 |
35 |
|
Financial result |
2.6 |
74 |
61 |
|
Other non-cash income and expenses |
|
18 |
73 |
|
Change in provisions (excl. interest) |
4.7 |
– 505 |
63 |
|
Change in defined benefit assets / liabilities and other non-current liabilities |
|
30 |
8 |
|
Change in fair value of derivative financial instruments and hedged firm commitments |
|
226 |
442 |
|
Change in net working capital (excl. derivatives, current financial assets / liabilities and current provisions) |
|
690 |
– 744 |
|
Other financial income and expenses |
|
– 12 |
– 24 |
|
Income tax paid |
|
– 58 |
– 36 |
|
Net cash flows from operating activities of continuing operations |
|
734 |
– 298 |
|
Net cash flows from operating activities of discontinued operations |
|
|
|
|
Net cash flows from operating activities |
|
734 |
– 298 |
|
Property, plant and equipment and intangible assets |
|
|
|
|
Investments |
4.1 / 4.2 |
– 82 |
– 66 |
|
Proceeds from disposals |
|
1 |
3 |
|
Subsidiaries |
|
|
|
|
Proceeds from disposals |
5.1 |
34 |
20 |
|
Associates |
|
|
|
|
Investments |
4.3 |
– 24 |
– 5 |
|
Proceeds from disposals |
|
|
– 3 |
|
Loans receivable and financial investments |
|
|
|
|
Investments |
3.3 |
– 3 |
– 10 |
|
Proceeds from disposals / repayments |
|
1 |
|
|
Change in current and non-current term deposits |
|
4 |
587 |
|
Investments in / proceeds from disposals of securities |
|
|
27 |
|
Dividends from partner power plants, other associates and financial investments |
4.3 |
23 |
24 |
|
Interest received |
|
10 |
12 |
|
Net cash flows from investing activities of continuing operations |
|
– 36 |
589 |
|
Net cash flows from investing activities of discontinued operations |
5.1 |
|
– 1 |
|
Net cash flows from investing activities |
|
– 36 |
588 |
|
Dividends paid |
|
|
– 46 |
|
Dividends paid to non-controlling interests |
|
– 1 |
– 2 |
|
Proceeds from financial liabilities |
3.4 |
2,709 |
895 |
|
Repayment of financial liabilities |
3.4 |
– 2,677 |
– 530 |
|
Distributions to hybrid investors recognised in equity outside profit or loss |
3.6 |
– 29 |
– 29 |
|
Interest paid |
|
– 43 |
– 36 |
|
Net cash flows from financing activities of continuing operations |
|
– 41 |
252 |
|
Net cash flows from financing activities of discontinued operations |
|
|
|
|
Net cash flows from financing activities |
|
– 41 |
252 |
|
Currency translation differences |
|
– 33 |
– 19 |
|
Change in cash and cash equivalents |
|
624 |
523 |
|
Reconciliation: |
|
|
|
|
Cash and cash equivalents at 1 January |
4.6 |
863 |
340 |
|
Cash and cash equivalents at 31 December |
4.6 |
1,487 |
863 |
|
Of which, cash and cash equivalents |
|
1,474 |
863 |
|
Of which, cash and cash equivalents under assets held for sale |
5.2 |
13 |
|
|
Change |
|
624 |
523 |
1 In 2022, including reversals of impairment losses