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2.3 Balance sheet
The balance sheet total decreased by CHF 36.2 million or about 15.4% compared with the end of 2016. Total current assets fell by CHF 34.1 million overall. Cash and cash equivalents decreased by CHF 25.2 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 15.4 million (31.12.2016: CHF 11.8 million), again showed a slight increase in value as at the reporting date. There was a net decrease in non-current assets of CHF 2.2 million, mainly because of higher depreciation and impairments (CHF 7.3 million) compared with investments (CHF 4.2 million). The total value using the percentage-of-completion method on the assets side is compared with the prepayments by customers on the liabilities side under “Other short-term liabilities” in the amount of CHF 16.1 million (31.12.2016: CHF 29.4 million).
Equity decreased by CHF 10.0 million. This change is mainly due to the semi-annual profit of CHF 2.9 million, 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 1.9 million and to the minority shareholders of Tritron GmbH of CHF 0.8 million as well as the capital reduction of CHF 2.4 million of the minority shareholders’ portion of Orell Füssli Buchhandlungs Ltd.
Available liquidity as at the balance sheet date was as follows:
|in CHF thousand||30.06.2017||31.12.2016|
|Cash and cash equivalents||44,711||69,957|
|Prepayments PoC / from customers||–16,080||–29,433|
|Other financial assets / liabilities||–3,710||–1,086|
|Cash and cash equivalents net||24,921||39,438|
|Thereof assigned to other shareholders||5,689||19,560|
|Disposable cash and cash equivalents||19,232||19,878|
|Available lines of credit||81,161||80,620|
|./. Secured guarantees by banks (without prepayment guarantees)||–3,433||–2,625|
|./. Lines of credit used||–1,094||–1,073|
|Total disposable cash and cash equivalents and unused lines of credit||95,866||96,800|