BAKU, Azerbaijan, Dec.10
By Leman Zeynalova - Trend:
Cash flow of Swiss Axpo from operating activities for the 2020/21 financial year (1 October 2020 to 30 September 2021) increased by CHF 295 million year-on-year to CHF 888 million, Trend reports with reference to the company.
The increase was due in particular to higher cash inflow from the Trading & Sales segment of CHF 300 million compared with the previous year.
Gross investments were CHF 125 million higher in the 2020/21 financial year, at CHF 482 million, with investments in wind and solar energy in particular increasing from CHF 107 million to CHF 249 million. This was offset by higher divestments of CHF 84 million and payments of CHF 49 million received from the decommissioning and waste disposal funds, resulting in net investments of CHF 327 million (previous year: CHF 275 million). As a result of the significantly higher operating cash flow and the slight rise in net investments, free cash flow increased to CHF 562 million (previous year: CHF 319 million).
The financial result improved by CHF 426 million year on year to CHF 235 million. A good performance by capital markets led to a higher STENFO return of CHF 313 million compared with the previous year and higher gains of CHF 62 million on the securities portfolio. Currency gains of CHF 12 million were also recorded (previous year: losses of CHF 30 million). Overall, Axpo therefore closed the 2020/21 financial year with a result for the period of CHF 607 million (previous year: CHF 570 million).
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