Consolidated Statement of Cash Flows

CHF million

Note

Half-year 2022/1

Half-year 2021/1

Earnings before tax from continuing operations (adjusted) 1

– 665

39

Adjustments for:

 

 

Depreciation, amortisation and impairment

 

59

66

Gain on sale of non-current assets

– 1

– 2

Share of results of partner power plants and other associates

 

10

13

Financial result (adjusted) 1

 

30

23

Other non-cash income and expenses

44

54

Change in provisions (excl. interest) (adjusted) 1

 

– 147

1

Change in defined benefit assets / liabilities and other non-current liabilities

 

21

3

Change in fair value of derivative financial instruments

 

657

– 17

Change in net working capital (excl. derivatives, current financial assets / liabilities and current provisions)

– 381

23

Other financial income and expenses

– 21

– 3

Income tax paid

– 22

– 28

Net cash flows from operating activities of continuing operations

 

– 416

172

Net cash flows from operating activities of discontinued operations

 

 

 

Net cash flows from operating activities

– 416

172

Property, plant and equipment and intangible assets

 

 

Investments

 

– 39

– 35

Proceeds from disposals

1

3

Subsidiaries

 

 

Proceeds from disposals

10

31

9

Associates

 

 

Proceeds from disposals

 

– 3

Loans receivable and financial investments

 

 

 

Investments

 

 

– 10

Change in current and non-current term deposits

 

14

Dividends from partner power plants, other associates and financial investments

 

24

23

Interest received

 

5

5

Net cash flows from investing activities of continuing operations

 

22

6

Net cash flows from investing activities of discontinued operations

10

 

– 1

Net cash flows from investing activities

 

22

5

Dividends paid

 

– 46

Dividends paid to non-controlling interests

 

– 1

Proceeds from financial liabilities

 

1,830

1

Repayment of financial liabilities

 

– 1,495

– 55

Interest paid

 

– 23

– 14

Net cash flows from financing activities of continuing operations

 

312

– 115

Net cash flows from financing activities of discontinued operations

 

Net cash flows from financing activities

 

312

– 115

Currency translation differences

 

– 18

5

Change in cash and cash equivalents

 

– 100

67

Reconciliation:

 

 

 

Cash and cash equivalents at 1 January

 

863

340

Cash and cash equivalents at 30 June

 

763

407

Change

 

– 100

67

1 See note 1

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