Cash Flow Statement
The cash and cash equivalents of Migros Group stood at CHF 6'327 million as at 31 December 2017 and decreased on a currency-adjusted basis by CHF 163 million (31 December 2016: CHF 6'490 million).
Cash flow from business activities stood at CHF 1'170 million (previous year: CHF 2'503 million). In the past year, investments in fixed and intangible assets totalled CHF 1'476 million (previous year: CHF 1'663 million), while acquisitions of subsidiaries and other associated companies amounted to an overall figure of CHF 38 million (previous year: CHF 84 million). Funds of CHF 72 million were received from the sale of subsidiaries and business operations.
Debt was once again repaid, which resulted in a cash outflow from financing activity of CHF 77 million (previous year: CHF 388 million).
Cash flow statement of the Retail and Industry sector
At the end of 2017, cash and cash equivalents of the Retail and Industry sector came in at CHF 2'100 million, representing an increase of CHF 392 million compared with CHF 1'708 million at the end of 2016.
In 2017, cash inflows from operating activity amounted to CHF 1'619 million (previous year: CHF 1'658 million). The reduction in operating cash flow compared to the previous year is the result of a lower pre-tax profit, the build-up of inventories and a lower commitment in terms of cash and cash equivalents for time deposits.
The cash outflow from investing activity came to CHF 1'315 million in the reporting period (previous year: CHF 1'595 million) and is characterised primarily by investments in both fixed and intangible assets of CHF 1'460 million. The highest investment volumes were in the segments Cooperative Retailing (CHF 945 million), Commerce (CHF 223 million) and Industry & Wholesaling (CHF 216 million).
Financing activity resulted in a cash inflow of CHF 56 million in the reporting year (previous year: cash outflow of CHF 278 million). This includes the repayment of the CHF 150 million long-term bond of the Federation of Migros Cooperatives.
Cash flow statement of the Financial Services sector
At the end of 2017, cash and cash equivalents of the Financial Services sector amounted to CHF 4'333 million. This represents a decrease of CHF 561 million on the previous year (CHF 4'894 million).
Cash outflows from operating activity totalled CHF 391 million in 2017 (previous year: cash inflow of CHF 487 million). This is due mainly to the cash outflow for mortgage and other customer lending and the increase in current asset securities, which are greater than the cash inflow from customer deposits.
CHF 17 million was invested in extending the bank's infrastructure. Furthermore, fixed asset securities totalling CHF 42 million were sold in the reporting year. Overall, a cash inflow of CHF 26 million resulted from the investment activities in the reporting year (previous year: CHF 53 million).
Financing activity resulted in a cash outflow of CHF 196 million during 2017 (previous year: CHF 165 million). Of this figure, CHF 142 million has been used for the repayment of medium-term bonds and mortgage-backed loans. A dividend of CHF 54 million was also paid out.
