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Consolidated cash flow statement
| CHF (thousands) | Note | 2016 | 2015 |
|---|---|---|---|
| Annual profit | 30,902 | 36,211 | |
| Minority interests | 62 | 274 | |
| Depreciation of tangible assets | 4 | 33,833 | 31,459 |
| Amortisation of intangible assets | 5 | 914 | 936 |
| Change of provisions | 9 | 269 | -472 |
| Use of provisions | 9 | 0 | -2 |
| Book profits from the sale of fixed assets | -28 | -31 | |
| Results from associated companies | 3 | 3 | |
| Badwill from the acquisition of subsidiary shares | 20 | -2,440 | 0 |
| Value adjustment of financial assets | 3 | 3 | 1 |
| Other non-cash items [1] | 1,289 | 1,425 | |
| Cash flow before change in net current assets | 64,807 | 69,804 | |
| Increase / decrease in receivables from deliveries and services | 1,444 | -1,239 | |
| Increase in other current receivables | -2,129 | -2,214 | |
| Increase in inventories | -14 | -91 | |
| Increase / decrease in accrued income | 920 | -289 | |
| Increase /decrease in liabilities from deliveries and services | 8,462 | -3,200 | |
| Increase / decrease in other short-term liabilities | 1,253 | -3,292 | |
| Decrease/increase in deferred income | -6,224 | 3,777 | |
| Cash flow from operating activities | 68,519 | 63,256 | |
| Investments in tangible assets | 4 | -44,610 | -55,189 |
| Investments in financial assets | 3 | -3,980 | -2,032 |
| Investments in intangible assets | 5 | -3,303 | -1,347 |
| Divestment of tangible assets | 642 | 721 | |
| Divestment of financial assets | 843 | 34 | |
| Cash flow from investing activities | -50,408 | -57,813 | |
| Free cash flow | 18,111 | 5,443 | |
| Increase in financial liabilities | 5,509 | 5,952 | |
| Repayment of financial liabilities | -740 | -740 | |
| Founding of Grindelwald Grund Infrastruktur AG | 40 | 0 | |
| Purchase of minority shares | -418 | 0 | |
| Investment in own shares incl. transaction costs | -1,954 | -1,518 | |
| Divestment of own shares | 886 | 739 | |
| Transaction costs for divestment of own shares | -4 | -3 | |
| Profit distribution to minority interests | -23 | -21 | |
| Profit distribution to Jungfraubahn Holding AG | -11,654 | -10,461 | |
| Cash flow from financing activities | -8,358 | -6,052 | |
| Change in liquid assets | 9,753 | -609 | |
| Liquid funds 1 January | 49,088 | 49,697 | |
| Liquid funds 31 December | 58,841 | 49,088 | |
| Change in liquid assets | 9,753 | -609 |
[1] Equity compensation programme for administration board, management and employees