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2.3 Balance sheet

The balance sheet total decreased by CHF 21.0 million or about 9.2% compared with the end of 2017. Total current assets fell by CHF 17.3 million overall. Cash and cash equivalents decreased by CHF 33.3 million, mainly due to the processing of production orders within Security Printing (material and operating costs) combined with the use of advance payments. The ‘Other receivables’ line item, which includes services valued using the percentage-of-completion method of CHF 25.2 million (31.12.2017: CHF 11.3 million), again showed a slight increase in value as at the reporting date. There was a net decrease in non-current assets of CHF 3.8 million, mainly due to higher depreciation and impairments (CHF 7.7 million) than investments (CHF 3.5 million). The total value of assets using the percentage-of-completion method compares with the prepayments by customers on the liabilities side, recorded under “Other short-term liabilities”, amounting to CHF 26.7 million (31.12. 2017: CHF 31.6 million).

Equity decreased by CHF 9.6 million. This change is mainly due to the payment of dividends to the shareholders of Orell Füssli Holding Ltd of CHF 7.8 million, to the minority shareholders of Orell Füssli Buchhandlungs Ltd of CHF 0.5 million and to the minority shareholders of Tritron GmbH of CHF 1.1 million.

Available liquidity as at the balance sheet date was as follows:

liquidity reserves and credit facilities

in CHF thousand   30.06.2018   31.12.2017
Cash and cash equivalents   52,632   85,961
Prepayments PoC / from customers   –26,962   –31,628
Other financial assets / liabilities   –2,475   –3,625
Cash and cash equivalents net   23,195   50,708
 
Thereof assigned to other shareholders   5,333   11,315
Disposable cash and cash equivalents   17,862   39,393
 
Available lines of credit   73,497   83,200
./. Secured guarantees by banks (without prepayment guarantees)   –3,168   –3,258
./. Lines of credit used     –1,170
Total disposable cash and cash equivalents and unused lines of credit   88,191   118,165