— Financial reporting — Consolidated statement of cash flows

Consolidated statement of cash flows

January 1 – June 30

millions of CHF	Notes	2023	2022 1)
Cash and cash equivalents as of January 1		313.5	209.8

Net income		7.3	9.2
Loss on net assets derecognized and retained investment	14	–	15.4
Interest income	6	–0.3	–0.0
Interest expenses	6	4.2	3.0
Income tax expenses	7	1.7	4.5
Depreciation, amortization and impairments		25.6	24.7
(Gains) / losses from disposals of tangible and intangible assets		0.0	0.0
Changes in inventory		–6.4	–12.1
Changes in advance payments to suppliers		–0.5	–3.2
Changes in contract assets		–1.2	–0.4
Changes in trade accounts receivable		–7.3	–24.3
Changes in contract liabilities		–0.2	–1.1
Changes in trade accounts payable		3.8	3.1
Changes in employee benefit plans		–0.3	–6.3
Changes in provisions		–0.9	–1.2
Changes in other net current assets		–1.1	18.7
Other non-cash items		–1.9	4.2
Interest received		0.3	0.0
Interest paid		–3.1	–2.6
Income tax paid		–4.5	–5.6
Total cash flow from operating activities		15.4	26.1

Purchase of intangible assets		–1.4	–0.7
Purchase of property, plant and equipment		–18.9	–12.0
Sale of property, plant and equipment		0.0	0.8
Cash consideration for acquisitions, net of cash acquired		–0.0	–0.0
Deconsolidation of medmix Poland, cash derecognized		–	–2.0
Divestitures of investments in subsidiaries		4.0	–
Sale of other non-current financial assets		–	0.1
Purchase of current financial assets		–0.0	0.0
Sale of current financial assets		3.3	0.2
Total cash flow from investing activities		–13.0	–13.6

Dividends paid to shareholders	8	–7.9	–15.0
Purchase of treasury shares	8	–1.0	–6.1
Payments of lease liabilities		–4.9	–4.5
Repayments of non-current borrowings	9	–	–2.6
Proceeds from current borrowings	9	2.0	153.8
Repayments of current borrowings	9	–156.8	–158.5
Total cash flow from financing activities		–168.6	–32.8

Exchange gains / (losses) on cash and cash equivalents		–1.8	–0.7

Net change in cash and cash equivalents		–167.9	–21.0

Cash and cash equivalents as of December 31		145.6	188.9

1) The numbers as of June 30, 2022, have been adjusted following the deconsolidation of medmix Poland. A reconciliation to the previously published numbers is provided in note 14.