Siegfried Annual Report 2009

Consolidated statement of cash flows
In 1 000 CHF (for the year ended December 31) Notes * 2009 2008 1
Net loss –35 263 –74 884
Adjustments:
Depreciation and impairment PP&E and Intangibles 2, 3 48 778 136 762
Change in provisions (2008 excl. Impact of Arena transaction) 15, 20 63 –446
Other non-cash items –3 415 ** –26 358
Expenses for share-based payments 504 226
Exchange rate differences 21 823 –243
Financial income 21 –857 –1 125
Financial expenses 21 13 519 6 068
Income taxes 7 –5 057 –13 299
Share of result of associated companies 4 –906 –1 252
Net result on disposal of property, plant and equipment –13 103
Net result from sale of non-current assets held for sale 20 – –13 537
Cash flow from operating activities before change in net current assets 18 176 12 015
Change in trade receivables 17 704 5 310
Change in other current assets 301 8 163
Change in inventories 19 627 14 777
Change in trade payables 2 929 2 008
Change in other current liabilities –7 976 –7 762
Payments out of provisions 15 –179 –1 005
Interest paid and bank charges –4 876 –4 255
Income taxes paid –241 –2 413
Cash flow from operating activities 45 465 26 838
Purchase of property, plant and equipment –20 840 –30 511
Proceeds from disposal of property, plant and equipment 531 1 430
Proceeds from sale of non-current assets held for sale 20 – 21 822
Purchase of intangible assets –12 368 –12 434
Investments in associated companies and joint ventures – –240
Purchase of available-for-sale financial assets 145 –196
Sale of available-for-sale financial assets 36 –
Interest received 125 614
Dividend received 83 2
Cash flow from investing activities –32 288 –19 513
Increase in non-current financial liabilities 14 8 014 30 000
Redemption of non-current financial liabilities 14 –22 635 –15 000
Increase in current financial liabilities – 23
Redemption of current financial liabilities – 181
Change in other non-current liabilities –593 –
Purchase/disposal of treasury shares, net 1 042 –230
Dividend paid to shareholders of Siegfried Holding AG –5 739 –11 647
Cash flow from financing activities –19 911 3 327
Net change in cash –6 734 10 652
Cash at the beginning of the year 14 937 4 714
Net effect of exchange rate changes on cash –120 –429
Cash at the end of the year 8 083 14 937
1
Cash flow statement 2008 restated, see page 74
*
The notes on pages 72–103 are an integral part of the Group Finanical Statements
**
Other non-cash items mainly include capitalized own development.
70 Financial Statements Siegfried Group