| Figures in CHF thousand | Notes | 2016 | 2015 |
| Consolidated earnings | 97,969 | 15,936 | |
| Write-downs / write-ups on investments | 5 | –32,149 | 94,281 |
| Of which write-downs / write-ups on equity-accounted participations | 5 | 9,001 | 7,672 |
| Write-downs / write-ups on intangible assets | 8 | 41,657 | 21,193 |
| Write-downs / write-ups on property, plant and equipment | 8 | 8,547 | 8,683 |
| Write-downs / write-ups on receivables | 20,127 | 16,672 | |
| Change in net technical provisions | 11 | 16,444 | 12,727 |
| Change in non-technical provisions | 12 | –23,411 | –6,445 |
| Change in provision for investment risk | 13 | 152,000 | –15,000 |
| Loss / gain on disposal of property, plant and equipment | –59 | 402 | |
| Change in deferred charges | 9 | 18,151 | 46,221 |
| Change in deferred income taxes | –57,412 | –69,482 | |
| Change in receivables | 10 | –92,310 | –59,737 |
| Change in deferred credits | 9 | –27,123 | –18,064 |
| Change in liabilities | 10 | –61,222 | 222,877 |
| Cash flow from operating activities | 61,210 | 270,264 | |
| Investment / divestment of investments | 6 | –200,085 | –106,292 |
| Investment / divestment of intangible assets | 8 | –64,498 | –53,691 |
| Investment / divestment of property, plant and equipment | 8 | –4,662 | –9,430 |
| Cash flow from investment activities | –269,244 | –169,413 | |
| Dividends to shareholders | –1,400 | –2,100 | |
| Dividends to non-controlling interests | –975 | –919 | |
| Change in non-controlling interest / third parties | 766 | 1,018 | |
| Cash flow from financing activities | –1,610 | –2,001 | |
| Total cash flow = change in cash and cash equivalents | –209,644 | 98,850 | |
| Cash and cash equivalents opening amount at 1.1 | 300,888 | 202,038 | |
| Cash and cash equivalents closing amount at 31.12 | 91,244 | 300,888 | |
| Change in cash and cash equivalents 1 | –209,644 | 98,850 |
1 Cash and cash equivalents operating liquidity, liquidity with custodian bank, time deposits