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:
|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|