Consolidated Financial Statements 2017 of Kuehne + Nagel Group

Cash Flow Statement

CHF million Note 2017 2016
Cash flow from operating activities    
Earnings for the year   740 720
Reversal of non-cash items:    
Income tax 24 215 215
Financial income 23 –16 –12
Financial expenses 23 4 3
Result from joint ventures and associates 28 –6 –8
Depreciation of property, plant and equipment 26 172 161
Amortisation of other intangibles 27 41 31
Expenses for share-based compensation plans 20 10 14
Gain on disposal of property, plant and equipment 22 –9 –46
Loss on disposal of property, plant and equipment 22 2
Net addition to provisions for pension plans and severance payments 35 –3 –18
Subtotal operational cash flow   1,148 1,062
(Increase)/decrease work in progress   –106 –39
(Increase)/decrease trade and other receivables, prepayments   –760 –158
Increase/(decrease) provisions   –16 –23
Increase/(decrease) other liabilities   33 50
Increase/(decrease) trade payables, accrued trade expenses/deferred income   721 168
Income taxes paid   –240 –212
Total cash flow from operating activities   780 848
Cash flow from investing activities
Capital expenditure
     
— Property, plant and equipment 26 –225 –239
— Other intangibles 27 –13 –13
Disposal of property, plant and equipment   91 66
Acquisition of subsidiaries, net of cash acquired 42 –107
(Increase)/decrease of share capital in joint ventures 28 1 2
Dividend received from joint ventures and associates   3 6
Interest received   5 4
Total cash flow from investing activities   –245 –174
Cash flow from financing activities    
Repayment of interest-bearing liabilities   –4 –5
Interest paid   –4 –3
Purchase of treasury shares 34 –66
Disposal of treasury shares 34 1 5
Dividend paid to equity holders of parent company 34 –658 –599
Dividend paid to non-controlling interests 34 –2 –2
Acquisition of non-controlling interests 42 –3
Total cash flow from financing activities   –670 –670
Exchange difference on cash and cash equivalents   8 –6
Increase/(decrease) in cash and cash equivalents   –127 –2
Cash and cash equivalents at the beginning of the year, net 33 837 839
Cash and cash equivalents at the end of the year, net 33 710 837