Consolidated financial statements
Consolidated income statement
in TCHF | Notes | 1.1.-31.12.2024 | 1.1.-31.12.2023 | |||
Group revenue | 6 | 3,558,912 | 3,595,909 | |||
Materials and third party services | 7 | (2,003,041) | (2,098,577) | |||
Personnel expenses | 8 | (1,062,456) | (1,027,876) | |||
Other operating expenses | 10 | (292,847) | (260,155) | |||
Income from associates and joint ventures | 47,330 | 17,103 | ||||
EBITDA | 247,898 | 226,404 | ||||
Depreciation and amortisation | (117,421) | (103,784) | ||||
EBIT | 6 | 130,477 | 122,620 | |||
Financial expenses | 11 | (28,234) | (28,853) | |||
Financial income | 11 | 4,163 | 17,402 | |||
Result before tax | 106,406 | 111,169 | ||||
Tax | 12 | (13,055) | 30,588 | |||
Consolidated result | 93,351 | 141,757 | ||||
Attributable to: | ||||||
Shareholders of Implenia Ltd. | 92,365 | 140,958 | ||||
Non-controlling interests | 986 | 799 | ||||
Earnings per share (CHF) | ||||||
Basic earnings per share | 27 | 5.04 | 7.69 | |||
Diluted earnings per share | 27 | 5.00 | 7.57 |
Consolidated statement of comprehensive income
in TCHF | Notes | 1.1.-31.12.2024 | 1.1.-31.12.2023 | |||
Consolidated result | 93,351 | 141,757 | ||||
Remeasurement of post-employment benefits |
24 |
(5,444) |
(11,991) | |||
Fair value adjustments on financial instruments | - | (1,248) | ||||
Fair value adjustments on property, | 18 | 1,421 | 6,063 | |||
Income tax on items that will not be reclassified | 5,782 | 2,155 | ||||
Total items that will not be reclassified | 1,759 | (5,021) | ||||
Changes from net investment hedges |
(381) |
2,152 | ||||
Foreign exchange differences | 2,900 | (31,894) | ||||
Foreign exchange differences reclassified | - | 141 | ||||
Total items that will be reclassified | 2,519 | (29,601) | ||||
Other comprehensive income |
4,278 |
(34,622) | ||||
Attributable to: | ||||||
Shareholders of Implenia Ltd. | 4,240 | (34,833) | ||||
Non-controlling interests | 38 | 211 | ||||
Total comprehensive income |
97,629 |
107,135 | ||||
Attributable to: | ||||||
Shareholders of Implenia Ltd. | 96,605 | 106,125 | ||||
Non-controlling interests | 1,024 | 1,010 |
Consolidated balance sheet
Assets | ||||||
in TCHF | Notes | 31.12.2024 | 31.12.2023 | |||
Cash and cash equivalents | 401,995 | 478,809 | ||||
Trade receivables | 13 | 602,055 | 577,354 | |||
Contract assets | 14 | 414,663 | 326,372 | |||
Joint ventures (equity method) | 15 | 84,361 | 43,467 | |||
Other current assets | 16 | 109,220 | 77,060 | |||
Raw materials and supplies | 83,205 | 77,835 | ||||
Real estate transactions | 17 | 190,680 | 149,136 | |||
Non-current Assets Held for Sale | 18 | - | 54 | |||
Total current assets | 1,886,179 | 1,730,087 | ||||
Property, plant and equipment with revaluation model |
18 |
61,916 |
82,174 | |||
Property, plant and equipment | 18 | 224,439 | 185,586 | |||
Rights of use from leases | 19 | 162,557 | 173,939 | |||
Investment property | 5.8 | 4,913 | 3,634 | |||
Investments in associates | 20 | 198,277 | 202,947 | |||
Other financial assets | 5.8 | 18,154 | 19,434 | |||
Pension assets | 24 | 7,206 | 444 | |||
Intangible assets | 21 | 435,552 | 418,620 | |||
Deferred tax assets | 25 | 99,238 | 88,676 | |||
Total non-current assets | 1,212,252 | 1,175,454 | ||||
Total assets |
3,098,431 |
2,905,541 |
Equity and liabilities | ||||||
in TCHF | Notes | 31.12.2024 | 31.12.2023 | |||
Financial liabilities | 22 | 260,609 | 248,201 | |||
Trade payables | 990,065 | 744,957 | ||||
Contract liabilities | 14 | 238,809 | 409,968 | |||
Other current liabilities | 16 | 172,233 | 113,959 | |||
Prepaid income and accrued expenses | 142,678 | 122,715 | ||||
Provisions | 23 | 80,168 | 97,587 | |||
Total current liabilities | 1,884,562 | 1,737,387 | ||||
Financial liabilities |
22 |
425,991 |
462,699 | |||
Deferred tax liabilities | 25 | 86,975 | 82,859 | |||
Pension liabilities | 24 | 6,437 | 8,956 | |||
Provisions | 23 | 37,797 | 37,865 | |||
Total non-current liabilities | 557,200 | 592,379 | ||||
Share capital |
26 |
18,841 |
18,841 | |||
Treasury shares | 26 | (3,019) | (9,382) | |||
Reserves | 544,128 | 417,876 | ||||
Consolidated profit attributable to shareholders | 92,365 | 140,958 | ||||
Equity attributable to shareholders | 652,315 | 568,293 | ||||
Non-controlling interests |
4,354 |
7,482 | ||||
Total equity | 656,669 | 575,775 | ||||
Total equity and liabilities |
3,098,431 |
2,905,541 |
Consolidated statement of changes in equity
Reserves | ||||||||||||||||||
in TCHF | Share | Treasury | Capital | Foreign | Revaluation | Retained | Total | Non-con- | Total | |||||||||
Equity as at 1.1.2024 | 18,841 | (9,382) | 89,001 | (97,757) | 50,387 | 517,203 | 568,293 | 7,482 | 575,775 | |||||||||
Consolidated result | - | - | - | - | - | 92,365 | 92,365 | 986 | 93,351 | |||||||||
Other comprehensive income | - | - | - | 2,519 | 1,421 | 300 | 4,240 | 38 | 4,278 | |||||||||
Total comprehensive income | - | - | - | 2,519 | 1,421 | 92,665 | 96,605 | 1,024 | 97,629 | |||||||||
Dividends | - | - | - | - | - | (10,930) | (10,930) | (3,037) | (13,967) | |||||||||
Purchase of treasury shares | - | (446) | - | - | - | - | (446) | - | (446) | |||||||||
Share-based payments | - | 6,809 | (3,344) | - | - | (3,708) | (243) | - | (243) | |||||||||
Change in scope of consolidation | - | - | - | (964) | - | - | (964) | (1,115) | (2,078) | |||||||||
Reclassification | - | - | - | - | (18,977) | 18,977 | - | - | - | |||||||||
Total other changes in equity | - | 6,363 | (3,344) | (964) | (18,977) | 4,339 | (12,583) | (4,152) | (16,735) | |||||||||
Total equity as at 31.12.2024 |
18,841 |
(3,019) |
85,657 |
(96,202) |
32,831 |
614,207 |
652,315 |
4,354 |
656,669 | |||||||||
Equity as at 1.1.2023 |
18,841 |
(1,863) |
87,634 |
(67,991) |
45,601 |
393,976 |
476,198 |
6,472 |
482,670 | |||||||||
Consolidated result | - | - | - | - | - | 140,958 | 140,958 | 799 | 141,757 | |||||||||
Other comprehensive income | - | - | - | (29,766) | 4,786 | (9,853) | (34,833) | 211 | (34,622) | |||||||||
Total comprehensive income | - | - | - | (29,766) | 4,786 | 131,105 | 106,125 | 1,010 | 107,135 | |||||||||
Dividends | - | - | - | - | - | (7,341) | (7,341) | - | (7,341) | |||||||||
Purchase of treasury shares | - | (17,178) | 373 | - | - | - | (16,805) | - | (16,805) | |||||||||
Sale of treasury shares | - | 7,103 | 404 | - | - | - | 7,507 | - | 7,507 | |||||||||
Share-based payments | - | 2,556 | 590 | - | - | (537) | 2,609 | - | 2,609 | |||||||||
Total other changes in equity | - | (7,519) | 1,367 | - | - | (7,878) | (14,030) | - | (14,030) | |||||||||
Total equity as at 31.12.2023 |
18,841 |
(9,382) |
89,001 |
(97,757) |
50,387 |
517,203 |
568,293 |
7,482 |
575,775 | |||||||||
Consolidated cash flow statement
in TCHF | Notes | 1.1.-31.12.2024 | 1.1.-31.12.2023 | |||
Consolidated profit | 93,351 | 141,757 | ||||
Tax | 12 | 13,055 | (30,588) | |||
Financial result | 11 | 24,071 | 11,451 | |||
Depreciation and amortisation | 117,421 | 103,784 | ||||
Result from sales of non-current assets | (20,136) | (19,048) | ||||
Income from associates and joint ventures | 15, 20 | (47,330) | (17,103) | |||
Distributions from associates and investments received | 20 | 2,283 | 1,933 | |||
Change in provisions | (17,487) | (3,058) | ||||
Change in pension assets and liabilities | (13,435) | (16,025) | ||||
Change in net working capital | ||||||
Change in trade and other receivables | (20,438) | (15,126) | ||||
Change in contract assets and liabilities (net), | (247,622) | (22,648) | ||||
Change in real estate transactions | (41,544) | (8,795) | ||||
Change in trade payables and other liabilities | 263,684 | (118,696) | ||||
Change in accruals and joint ventures | (36,433) | (5,433) | ||||
Other expenses / income not affecting liquidity | 724 | (8,864) | ||||
Other expenses / income affecting liquidity | - | (4,583) | ||||
Interest paid | (15,478) | (17,073) | ||||
Interest received | 2,277 | 2,516 | ||||
Tax paid | (13,805) | (4,772) | ||||
Cash flow from operating activities | 43,158 | (30,371) |
in TCHF | Notes | 1.1.-31.12.2024 | 1.1.-31.12.2023 | |||
Investments in property, plant and equipment | (69,045) | (51,641) | ||||
Disposal of property, plant and equipment | 49,557 | 22,262 | ||||
Investments in other financial assets and associates | (1,337) | (10,419) | ||||
Disposal of other financial assets and associates | 481 | 5,168 | ||||
Investments in intangible assets | (11,651) | (8,127) | ||||
Disposal of intangible assets | - | 8 | ||||
Acquisition of subsidiaries, | 3 | (64,719) | 60,461 | |||
Cash flow from investing activities | (96,714) | 17,712 | ||||
Increase in financial liabilities | 22 | 176,941 | 34,023 | |||
Repayment of financial liabilities | 22 | (185,294) | (116,463) | |||
Purchase of treasury shares | (446) | (16,805) | ||||
Sale of treasury shares | - | 7,507 | ||||
Dividends | (10,930) | (7,341) | ||||
Cash flow with non-controlling interests | (4,179) | - | ||||
Cash flow from financing activities | (23,908) | (99,079) | ||||
Foreign exchange differences on cash and | 650 | (18,228) | ||||
Change in cash and cash equivalents | (76,814) | (129,966) | ||||
Cash and cash equivalents at the beginning | 478,809 | 608,775 | ||||
Cash and cash equivalents at the end | 401,995 | 478,809 |
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