• Print

Consolidated statement of cash flows

January 1 – December 31

millions of CHF

Notes

2019

2018

Cash and cash equivalents as of January 1

 

1’095.2

488.8

 

 

 

 

Net income

 

157.7

116.5

Interest and securities income

12

–6.6

–2.9

Interest expenses

12

24.9

20.3

Income tax expenses

13

55.1

49.2

Depreciation, amortization and impairments

14, 15, 16

171.5

145.1

Income from disposals of property, plant and equipment

11, 15, 16

–0.4

–5.8

Changes in inventories

 

82.8

–98.4

Changes in advance payments to suppliers

 

7.0

6.1

Changes in contract assets

 

–148.4

–11.0

Changes in trade accounts receivable

 

–22.7

19.9

Changes in contract liabilities

 

89.5

–23.7

Changes in trade accounts payable

 

–8.0

106.2

Change in provision for employee benefit plans

 

–7.0

–2.8

Changes in provisions

 

–1.6

–21.3

Changes in other net current assets

 

–6.1

20.8

Other non-cash items

 

5.2

17.6

Interest received

 

6.6

2.9

Interest paid

 

–21.5

–12.2

Income tax paid

 

–58.6

–65.6

Total cash flow from operating activities

 

319.6

260.8

 

 

 

 

Purchase of intangible assets

14

–6.0

–6.9

Sale of intangible assets

14

0.5

Purchase of property, plant and equipment

15

–108.9

–89.3

Sale of property, plant and equipment

15

8.1

16.6

Acquisitions of subsidiaries, net of cash acquired

4

–78.5

–217.5

Divestitures of subsidiaries

 

0.0

0.7

Acquisitions of associates

17

–0.0

–1.2

Dividends from associates

17

0.1

0.1

Purchase of other non-current financial assets

18

–1.1

–0.6

Sale of other non-current financial assets

18

0.4

0.6

Purchase of current financial assets

18

–57.4

Total cash flow from investing activities

 

–242.6

–297.4

 

 

 

 

Dividend

24

–81.2

–43.1

Dividend paid to non-controlling interests

 

–1.7

–1.9

Purchase of treasury shares

 

–11.1

–454.9

Sale of treasury shares

24

557.4

Payments for leases

16, 34

–34.0

Changes in non-controlling interests

 

–14.3

Additions in non-current borrowings

26

0.3

859.4

Repayment of non-current borrowings

26

–0.0

–1.1

Additions in current borrowings

26

153.8

426.4

Repayment of current borrowings

26

–149.2

–658.9

Total cash flow from financing activities

 

–123.2

669.1

 

 

 

 

Exchange losses on cash and cash equivalents

 

–13.5

–26.1

 

 

 

 

Net change in cash and cash equivalents

 

–59.7

606.4

 

 

 

 

Cash and cash equivalents as of December 31

23

1’035.5

1’095.2