Cash flow statement
| In millions of CHF, excluding balance sheet items held on fiduciary basis | 2025 | 2024 | ||
|---|---|---|---|---|
| Profit for the year | 84.8 | 96.5 | ||
| Financial expenses | 12.8 | 19.2 | ||
| Financial income | –3.3 | –3.6 | ||
| Income taxes | 18.7 | 21.7 | ||
| Depreciation and amortisation | 174.9 | 168.2 | ||
| Change in inventories | –0.4 | –1.6 | ||
| Change in provisions | –0.4 | – | ||
| Change in trade accounts receivable | 192.1 | –191.8 | ||
| Change in other receivables | –8.6 | –0.2 | ||
| Change in prepaid expenses and accrued income | 37.8 | –0.8 | ||
| Change in volume- and tariff-related timing differences | 292.8 | 1,022.0 | ||
| Change in trade accounts payable | –15.2 | 6.5 | ||
| Change in other current liabilities | –17.7 | 13.8 | ||
| Change in accrued expenses and deferred income | 70.9 | –3.5 | ||
| Interest received | 1.4 | 2.0 | ||
| Income taxes paid | –21.7 | –22.7 | ||
| Cash flow from operating activities | 818.9 | 1,125.7 | ||
| Gross investments in property, plant and equipment | –312.5 | –287.3 | ||
| Congestion proceeds received for grid investments | 156.8 | – | ||
| Government grants | 0.9 | 6.2 | ||
| Net investments in property, plant and equipment | –154.8 | –281.1 | ||
| Investments in intangible assets | –44.1 | –36.4 | ||
| Investments in financial assets | –325.0 | – | ||
| Dividends received | 0.9 | 0.7 | ||
| Cash flow from operating activities | –523.0 | –316.8 | ||
| Change in current financial liabilities | –55.2 | –510.0 | ||
| Repayment of bonds | –350.0 | – | ||
| Interest paid | –16.5 | –25.6 | ||
| Dividends paid | –51.9 | –30.0 | ||
| Cash flow from financing activities | –473.6 | –565.6 | ||
| Foreign currency translation effect on cash and cash equivalents | 0.3 | 0.4 | ||
| Change in cash and cash equivalents | –177.4 | 243.7 | ||
| Composition | ||||
| Cash and cash equivalents at beginning of period | 354.8 | 111.1 | ||
| Cash and cash equivalents at end of period | 177.4 | 354.8 | ||
| Change in cash and cash equivalents | –177.4 | 243.7 |