Menu

Downloads

Leave

2.3 Balance sheet

Total assets decreased by CHF 21.6 million (9.8%) compared with the end of 2019. Total current assets fell by CHF 24.4 million. Cash and cash equivalents decreased by CHF 29.0 million, partly due to the dividend payment of CHF 11.8 million, the increase in receivables/inventories of CHF 3.2 million and the reduction in short-term liabilities of CHF 11.9 million. The “Other receivables” line item, which includes services using the percentage-of-completion method of CHF 12.9 million (31.12.2019: CHF 20.5 million), again showed a slight increase in value as at the reporting date. There was a net decrease in non-current assets of CHF 1.0 million, mainly because depreciation and impairment charges (CHF 5.0 million) were lower than the investments made (CHF 6.0 million). Financial assets grew as a result of a strategic investment in Procivis AG of CHF 0.7 million and deferred tax assets in the amount of CHF 1.1 million. The total value of the assets calculated by the percentage-of-completion method faced with prepayments under position “Other short-term liabilities” on the liabilities side in the amount of CHF 28.5 million (31.12.2019: CHF 39.2 million).

Equity decreased by CHF 9.7 million. This reduction is mainly due to the payment of dividends to the shareholders of Orell Füssli Ltd in the amount of CHF 11.8 million.

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

Liquidity reserves and credit facilities

in CHF thousand   30.06.2020   31.12.2019
Cash in bank accounts and in hand   73,700   102,738
Prepayments PoC / from customers   –28,471   –39,187
Other financial assets / liabilities   –2,186   –1,635
Cash and cash equivalents net   43,043   61,916
 
Thereof assigned to other shareholders   4,498   12,469
Disposable cash and cash equivalents   38,545   49,447
 
Available lines of credit   66,014   66,011
./. Secured guarantees by banks (without prepayment guarantees)   –9,728   –6,091
./. Lines of credit used    
Total disposable cash and cash equivalents and unused lines of credit   94,831   109,367