Financial liabilities
| in CHF 000 | 2020 | 2019 | ||
|---|---|---|---|---|
| Current liabilities to banks | 2 000 | 22 072 | ||
| Current financial liabilities from leases | 13 938 | 11 223 | ||
| Other current financial liabilities to third parties | 350 | 603 | ||
| Other current financial liabilities to associates / joint ventures | 3 000 | – | ||
| Current financial liabilities | 19 289 | 33 898 | ||
| Non-current liabilities to banks | – | – | ||
| Non-current liabilities from leases | 54 247 | 33 036 | ||
| Non-current loans to related companies | 17 855 | 15 121 | ||
| Other non-current financial liabilities to third parties | 1 838 | 2 225 | ||
| Non-current financial liabilities | 73 940 | 50 382 | ||
| Financial liabilities | 93 228 | 84 280 | ||
| Weighted average interest rate | ||||
| Due within 1 year | 1.0% | 0.6% | ||
| Due 1 to 5 years | 0.9% | 1.3% | ||
| Due beyond 5 years | n/a | n/a |
Current and non-current financial liabilities increased by CHF 8.9 million to CHF 93.2 million. The bank liability of Goldbach Group AG in the amount of CHF 20.0 million was repaid in January 2020, which means the Goldbach Group no longer had any open bank liability as of the end of 2020. Other current bank liabilities increased by CHF 0.5 million to CHF 2.0 million.
As of the balance sheet date, there were current lease liabilities in the amount of CHF 13.9 million (previous year: CHF 11.2 million) and non-current lease liabilities in the amount of CHF 54.2 million (previous year: CHF 33.0 million). The increase in lease liabilities is partly attributable to the recording of the lease for new premises of JobCloud AG, the extension of the lease for Goldbach Media (Switzerland) AG and the recording of leases in the out-of-home area.
Besides the increased lease liability, there is also an increase in non-current financial liabilities due to higher loans from related parties to Group companies. Other non-current financial liabilities to third parties still comprise the contractually assumed obligation of CHF 1.5 million (previous year: CHF 1.7 million) in connection with the “ETH Media Technology Initiative” development partnership. The current portion of this, CHF 0.3 million, has been recognised under other current financial liabilities.
Cash flow associated with net financial liabilities
| in CHF 000 | Cash and cash equivalents |
Current financial assets |
Current financial receivables |
Current financial liabilities |
Non-current financial liabilities |
Net financial liabilities |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| As of 31 December 2018 | 145 923 | 1 187 | 26 354 | (125 680) | (33 193) | 14 590 | ||||||
| Effect of introducing IFRS 16 "Leases" | – | – | – | (10 167) | (44 259) | (54 427) | ||||||
| As of 1 January 2019 | 145 923 | 1 187 | 26 354 | (135 848) | (77 453) | (39 836) | ||||||
| Addition / Disposal of cash and cash equivalents and current financial assets | 278 025 | – | 6 940 | – | – | 284 965 | ||||||
| Proceeds of financial liabilities | 6 601 | – | – | (1 495) | (5 106) | – | ||||||
| Repayment of financial liabilities | (128 377) | – | – | 126 970 | 1 407 | – | ||||||
| Repayments of leasing liabilities | (11 875) | – | – | 11 875 | – | – | ||||||
| Investment in consolidated companies | (6 397) | – | – | – | – | (6 397) | ||||||
| Disposals of consolidated companies | 7 904 | – | – | – | – | 7 904 | ||||||
| Other non-cash changes | – | (1 187) | – | (4 178) | (454) | (5 819) | ||||||
| Transfers | – | – | – | (31 223) | 31 223 | – | ||||||
| Currency effects | (608) | – | – | – | – | (608) | ||||||
| As of 31 December 2019 | 291 194 | – | 33 294 | (33 898) | (50 382) | 240 208 | ||||||
| As of 1 January 2020 | 291 194 | – | 33 294 | (33 898) | (50 382) | 240 208 | ||||||
| Addition / Disposal of cash and cash equivalents and current financial assets | (3 577) | – | (9 581) | – | – | (13 158) | ||||||
| Proceeds of financial liabilities | 7 792 | – | – | (3 500) | (4 292) | – | ||||||
| Repayment of financial liabilities | (22 032) | – | – | 20 599 | 1 433 | – | ||||||
| Repayments of leasing liabilities | (15 386) | – | – | 15 386 | – | – | ||||||
| Disposals of consolidated companies | 18 173 | – | – | – | – | 18 173 | ||||||
| Other non-cash changes | – | 311 | 12 225 | (15 161) | (23 414) | (26 038) | ||||||
| Transfers | – | – | – | (2 715) | 2 715 | – | ||||||
| Currency effects | (11) | – | – | – | – | (11) | ||||||
| As of 31 December 2020 | 276 153 | 311 | 35 938 | (19 289) | (73 940) | 219 174 |