Consolidated financial statements
Consolidated income statement
in TCHF | Notes | 1.1.‑31.12.2022 | 1.1.‑31.12.2021 | |||
Group revenue | 6 | 3,563,266 | 3,764,670 | |||
Materials and third party services | 7 | (2,125,762) | (2,258,492) | |||
Personnel expenses | 8 | (961,667) | (1,025,377) | |||
Other operating expenses | 10 | (256,017) | (280,153) | |||
Income from associates | 13,253 | 24,137 | ||||
EBITDA | 233,073 | 224,785 | ||||
Depreciation and amortisation | (94,212) | (109,959) | ||||
EBIT | 138,861 | 114,826 | ||||
Financial expenses | 11 | (27,173) | (30,532) | |||
Financial income | 11 | 11,495 | 6,194 | |||
Result before tax | 123,183 | 90,488 | ||||
Tax | 12 | (17,220) | (26,532) | |||
Consolidated result | 105,963 | 63,956 | ||||
Attributable to: | ||||||
Shareholders of Implenia Ltd. | 104,751 | 61,157 | ||||
Non-controlling interests | 1,212 | 2,799 | ||||
Earnings per share (CHF) | ||||||
Basic earnings per share | 27 | 5.68 | 3.31 | |||
Diluted earnings per share | 27 | 5.59 | 3.04 |
Consolidated statement of comprehensive income
in TCHF | Notes | 1.1.‑31.12.2022 | 1.1.‑31.12.2021 | |||
Consolidated result | 105,963 | 63,956 | ||||
Remeasurement of post-employment benefits | 24 | (4,026) | (3,169) | |||
Fair value adjustments on financial instruments | 1,023 | 543 | ||||
Fair value adjustments on property, | 18 | 56,298 | ‑ | |||
Income tax on items that will not be | (10,144) | 725 | ||||
Total items that will not be reclassified | 43,151 | (1,901) | ||||
Changes from net investment hedges | 2,207 | 2,500 | ||||
Foreign exchange differences | (12,794) | (6,418) | ||||
Total items that will be reclassified | (10,587) | (3,918) | ||||
Other comprehensive income | 32,564 | (5,819) | ||||
Attributable to: | ||||||
Shareholders of Implenia Ltd. | 32,573 | (5,810) | ||||
Non-controlling interests | (9) | (9) | ||||
Total comprehensive income | 138,527 | 58,137 | ||||
Attributable to: | ||||||
Shareholders of Implenia Ltd. | 137,324 | 55,347 | ||||
Non-controlling interests | 1,203 | 2,790 |
Consolidated balance sheet
Assets | ||||||
in TCHF | Notes | 31.12.2022 | 31.12.2021 | |||
Cash and cash equivalents | 608,775 | 621,913 | ||||
Fixed short-term deposits | 265 | 174,982 | ||||
Trade receivables | 13 | 568,329 | 551,540 | |||
Contract assets | 14 | 313,482 | 396,267 | |||
Joint ventures (equity method) | 15 | 30,964 | 37,540 | |||
Other current assets | 16 | 85,944 | 72,326 | |||
Raw materials and supplies | 82,808 | 78,861 | ||||
Real estate transactions | 17 | 141,026 | 149,269 | |||
Non‑current Assets Held for Sale | 18 | 2,997 | ‑ | |||
Total current assets | 1,834,590 | 2,082,698 | ||||
Property, plant and equipment with revaluation model1 | 18 | 75,695 | 23,849 | |||
Property, plant and equipment | 18 | 178,815 | 195,607 | |||
Rights of use from leases | 19 | 156,657 | 148,929 | |||
Investment property | 5.8 | 5,323 | 5,415 | |||
Investments in associates | 20 | 195,161 | 194,699 | |||
Other financial assets | 5.8 | 15,027 | 12,767 | |||
Pension assets | 24 | 444 | 444 | |||
Intangible assets | 21 | 240,615 | 253,344 | |||
Deferred tax assets | 25 | 51,099 | 70,084 | |||
Total non-current assets | 918,836 | 905,138 | ||||
Total assets | 2,753,426 | 2,987,836 |
1 The previous year's figures for property, plant and equipment with revaluation model still correspond to amortized cost as the revaluation took place for the first time as of June 30, 2022.
Equity and liabilities | ||||||
in TCHF | Notes | 31.12.2022 | 31.12.2021 | |||
Financial liabilities | 22 | 72,660 | 236,513 | |||
Trade payables | 625,713 | 679,361 | ||||
Contract liabilities | 14 | 454,392 | 518,220 | |||
Joint ventures (equity method) | 15 | 69,968 | 61,566 | |||
Other current liabilities | 16 | 134,393 | 144,790 | |||
Prepaid income and accrued expenses | 126,674 | 131,321 | ||||
Provisions | 23 | 116,211 | 117,317 | |||
Total current liabilities | 1,600,011 | 1,889,088 | ||||
Financial liabilities | 22 | 581,819 | 651,940 | |||
Deferred tax liabilities | 25 | 54,036 | 57,328 | |||
Pension liabilities | 24 | 9,903 | 15,626 | |||
Provisions | 23 | 24,987 | 27,936 | |||
Total non-current liabilities | 670,745 | 752,830 | ||||
Share capital | 26 | 18,841 | 18,841 | |||
Treasury shares | 26 | (1,863) | (1,246) | |||
Reserves | 354,469 | 255,204 | ||||
Consolidated profit attributable to shareholders | 104,751 | 61,157 | ||||
Equity attributable to shareholders | 476,198 | 333,956 | ||||
Non-controlling interests | 6,472 | 11,962 | ||||
Total equity | 482,670 | 345,918 | ||||
Total equity and liabilities | 2,753,426 | 2,987,836 |
Consolidated statement of changes in equity
Reserves | ||||||||||||||||||
in TCHF | Share | Treasury | Capital | Foreign | Revaluation | Retained | Total | Non- | Total | |||||||||
Equity as at 1.1.2022 | 18,841 | (1,246) | 87,834 | (56,542) | ‑ | 285,068 | 333,955 | 11,963 | 345,918 | |||||||||
Consolidated result | ‑ | ‑ | ‑ | ‑ | ‑ | 104,751 | 104,751 | 1,212 | 105,963 | |||||||||
Other comprehensive income | ‑ | ‑ | ‑ | (10,577) | 45,601 | (2,451) | 32,573 | (9) | 32,564 | |||||||||
Total comprehensive income | ‑ | ‑ | ‑ | (10,577) | 45,601 | 102,300 | 137,324 | 1,203 | 138,527 | |||||||||
Dividends | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | (100) | (100) | |||||||||
Change in treasury shares | ‑ | (617) | (200) | ‑ | ‑ | ‑ | (817) | ‑ | (817) | |||||||||
Share-based payments | ‑ | ‑ | ‑ | ‑ | ‑ | 4,175 | 4,175 | ‑ | 4,175 | |||||||||
Change in scope of consolidation | ‑ | ‑ | ‑ | (872) | ‑ | 2,433 | 1,561 | (6,594) | (5,033) | |||||||||
Total other changes in equity | ‑ | (617) | (200) | (872) | ‑ | 6,608 | 4,919 | (6,694) | (1,775) | |||||||||
Total equity as at 31.12.2022 | 18,841 | (1,863) | 87,634 | (67,991) | 45,601 | 393,976 | 476,198 | 6,472 | 482,670 | |||||||||
Equity as at 1.1.2021 | 18,841 | (955) | 88,105 | (58,592) | 231,343 | 278,742 | 24,285 | 303,027 | ||||||||||
Consolidated result | ‑ | ‑ | ‑ | ‑ | 61,157 | 61,157 | 2,799 | 63,956 | ||||||||||
Other comprehensive income | ‑ | ‑ | ‑ | 2,050 | (7,860) | (5,810) | (9) | (5,819) | ||||||||||
Total comprehensive income | ‑ | ‑ | ‑ | 2,050 | 53,297 | 55,347 | 2,790 | 58,137 | ||||||||||
Dividends | ‑ | ‑ | ‑ | ‑ | ‑ | ‑ | (10,153) | (10,153) | ||||||||||
Change in treasury shares | ‑ | (291) | (271) | ‑ | ‑ | (562) | ‑ | (562) | ||||||||||
Share-based payments | ‑ | ‑ | ‑ | ‑ | 1,924 | 1,924 | ‑ | 1,924 | ||||||||||
Change in scope of consolidation | ‑ | ‑ | ‑ | ‑ | (1,496) | (1,496) | (4,959) | (6,455) | ||||||||||
Total other changes in equity | ‑ | (291) | (271) | ‑ | 428 | (134) | (15,112) | (15,246) | ||||||||||
Total equity as at 31.12.2021 | 18,841 | (1,246) | 87,834 | (56,542) | 285,068 | 333,955 | 11,963 | 345,918 | ||||||||||
Consolidated cash flow statement
in TCHF | Notes | 1.1.‑31.12.2022 | 1.1.‑31.12.2021 | |||
Consolidated profit | 105,963 | 63,956 | ||||
Tax | 12 | 17,220 | 26,532 | |||
Financial result | 11 | 15,678 | 24,338 | |||
Depreciation and amortisation | 94,212 | 109,959 | ||||
Result from sales of non-current assets and subsidiaries | (17,725) | (62,865) | ||||
Income from associates | 20 | (13,253) | (8,809) | |||
Distributions from associates and investments received | 20 | 2,197 | 4,111 | |||
Change in provisions | (3,496) | (121,219) | ||||
Change in pension assets and liabilities | (5,310) | (8,096) | ||||
Change in net working capital | ||||||
Change in trade and other receivables | (51,146) | 73,778 | ||||
Change in contract assets and liabilities (net), raw materials and supplies | 37,002 | 120,039 | ||||
Change in real estate transactions | 7,691 | (12,727) | ||||
Change in trade payables and other liabilities | (56,330) | (243,859) | ||||
Change in accruals and joint ventures (equity method) | 20,682 | (8,301) | ||||
Other expenses / income not affecting liquidity | 578 | (12,620) | ||||
Interest paid | (18,199) | (12,801) | ||||
Interest received | 1,714 | 1,388 | ||||
Tax paid | (9,352) | (2,050) | ||||
Cash flow from operating activities | 128,126 | (69,246) |
in TCHF | Notes | 1.1.‑31.12.2022 | 1.1.‑31.12.2021 | |||
Investments in property, plant and equipment | (37,145) | (42,653) | ||||
Disposals of property, plant and equipment | 20,039 | 30,152 | ||||
Investments in other financial assets and associates | (4,123) | (177,307) | ||||
Disposals of other financial assets and associates | 179,303 | 23,910 | ||||
Investments in intangible assets | (1,570) | (4,440) | ||||
Proceeds from sale of intangible assets | 50 | ‑ | ||||
Acquisition of subsidiaries, | ‑ | 6,657 | ||||
Sale of subsidiaries | 14,317 | 40,433 | ||||
Cash flow from investing activities | 170,871 | (123,248) | ||||
Increase in financial liabilities | 22 | (0) | 212,003 | |||
Repayment of financial liabilities | 22 | (291,518) | (93,919) | |||
Purchase of treasury shares | (5,283) | (3,276) | ||||
Sale of treasury shares | 4,466 | 2,770 | ||||
Cash flow with non-controlling interests | (2,000) | (10,153) | ||||
Cash flow from financing activities | (294,335) | 107,425 | ||||
Foreign exchange differences on cash and | (17,800) | (13,008) | ||||
Change in cash and cash equivalents | (13,138) | (98,077) | ||||
Cash and cash equivalents at the beginning | 621,913 | 719,990 | ||||
Cash and cash equivalents at the end | 608,775 | 621,913 |
To the complete Annual Report 2023 as PDF