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:

liquidity reserves and credit facilities

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