— Financial reporting — Consolidated statement of cash flows
Consolidated statement of cash flows
January 1 – December 31
|
millions of CHF |
|
Notes |
|
2022 |
|
2021 |
|
|
Cash and cash equivalents as of January 1 |
|
20 |
|
209.8 |
|
14.8 |
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
|
|
11.6 |
|
44.0 |
|
|
Loss on net assets derecognized and retained investment |
|
15 |
|
15.4 |
|
– |
|
|
Interest and securities income |
|
10 |
|
–0.7 |
|
–0.0 |
|
|
Interest expenses |
|
10 |
|
6.5 |
|
8.1 |
|
|
Income tax expenses |
|
11 |
|
0.6 |
|
7.3 |
|
|
Depreciation, amortization and impairments |
|
12, 13, 14 |
|
51.1 |
|
51.7 |
|
|
(Gains) / losses from disposals of tangible and intangible assets |
|
9 |
|
0.0 |
|
–0.1 |
|
|
Changes in inventory |
|
|
|
–30.5 |
|
–17.0 |
|
|
Changes in advance payments to suppliers |
|
|
|
1.3 |
|
–1.9 |
|
|
Changes in contract assets |
|
|
|
–1.0 |
|
– |
|
|
Changes in trade accounts receivable |
|
|
|
–37.9 |
|
–2.9 |
|
|
Changes in contract liabilities |
|
|
|
–0.3 |
|
–0.7 |
|
|
Changes in trade accounts payable |
|
|
|
10.0 |
|
12.1 |
|
|
Changes in employee benefit plans |
|
|
|
–5.9 |
|
1.3 |
|
|
Changes in provisions |
|
|
|
–1.0 |
|
–6.8 |
|
|
Changes in other net current assets |
|
|
|
17.7 |
|
2.4 |
|
|
Other non-cash items |
|
|
|
27.1 |
|
5.6 |
|
|
Interest received |
|
|
|
0.6 |
|
0.0 |
|
|
Interest paid |
|
|
|
–6.5 |
|
–8.1 |
|
|
Income tax paid |
|
|
|
–10.5 |
|
–7.9 |
|
|
Total cash flow from operating activities |
|
|
|
47.6 |
|
87.3 |
|
|
|
|
|
|
|
|
|
|
|
Purchase of intangible assets |
|
12 |
|
–2.2 |
|
–2.1 |
|
|
Purchase of property, plant and equipment |
|
13 |
|
–36.4 |
|
–29.8 |
|
|
Sale of property, plant and equipment |
|
13 |
|
1.3 |
|
0.2 |
|
|
Cash consideration for acquisitions, net of cash acquired |
|
4 |
|
–14.7 |
|
–2.7 |
|
|
Deconsolidation of medmix Poland, cash derecognized |
|
15 |
|
–2.0 |
|
– |
|
|
Sale of other non-current financial assets |
|
|
|
0.1 |
|
– |
|
|
Purchase of current financial assets |
|
|
|
–3.3 |
|
–0.2 |
|
|
Sale of current financial assets |
|
|
|
0.2 |
|
31.4 |
|
|
Total cash flow from investing activities |
|
|
|
–57.0 |
|
–3.3 |
|
|
|
|
|
|
|
|
|
|
|
Net proceeds from capital increase |
|
21 |
|
– |
|
294.7 |
|
|
Dividends paid to shareholders |
|
21 |
|
–15.0 |
|
–41.3 |
|
|
Purchase of treasury shares |
|
21 |
|
–6.1 |
|
–6.5 |
|
|
Payments of lease liabilities |
|
14 |
|
–8.9 |
|
–8.0 |
|
|
Subsidies for lease payments |
|
|
|
– |
|
0.8 |
|
|
Proceeds from non-current borrowings |
|
23 |
|
– |
|
265.2 |
|
|
Repayments of non-current borrowings |
|
23 |
|
–3.0 |
|
–255.1 |
|
|
Proceeds from current borrowings |
|
23 |
|
310.5 |
|
107.6 |
|
|
Repayments of current borrowings |
|
23 |
|
–161.6 |
|
–245.9 |
|
|
Total cash flow from financing activities |
|
|
|
116.1 |
|
111.6 |
|
|
|
|
|
|
|
|
|
|
|
Exchange gains / (losses) on cash and cash equivalents |
|
|
|
–2.9 |
|
–0.6 |
|
|
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents |
|
|
|
103.7 |
|
195.0 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents as of December 31 |
|
20 |
|
313.5 |
|
209.8 |
|
For the calculation of free cash flow (FCF), reference is made to the section financial review.