Consolidated statement of cash flows
January 1 – December 31
|
millions of CHF |
|
Notes |
|
2020 |
|
2019 |
|
Cash and cash equivalents as of January 1 |
|
|
|
1’035.5 |
|
1’095.2 |
|
|
|
|
|
|
|
|
|
Net income |
|
|
|
87.2 |
|
157.7 |
|
Interest and securities income |
|
12 |
|
–4.1 |
|
–6.6 |
|
Interest expenses |
|
12 |
|
25.2 |
|
24.9 |
|
Income tax expenses |
|
13 |
|
34.6 |
|
55.1 |
|
Depreciation, amortization and impairments |
|
14, 15, 16 |
|
177.5 |
|
171.5 |
|
Income from disposals of tangible and intangible assets |
|
11, 15, 16 |
|
–3.0 |
|
–0.4 |
|
Changes in inventories |
|
|
|
29.7 |
|
82.8 |
|
Changes in advance payments to suppliers |
|
|
|
19.2 |
|
7.0 |
|
Changes in contract assets |
|
|
|
4.2 |
|
–148.4 |
|
Changes in trade accounts receivable |
|
|
|
21.3 |
|
–22.7 |
|
Changes in contract liabilities |
|
|
|
–33.8 |
|
89.5 |
|
Changes in trade accounts payable |
|
|
|
–29.6 |
|
–8.0 |
|
Change in provision for employee benefit plans |
|
|
|
44.3 |
|
–7.0 |
|
Changes in provisions |
|
|
|
48.9 |
|
–1.6 |
|
Changes in other net current assets |
|
|
|
–9.7 |
|
–6.1 |
|
Other non-cash items |
|
|
|
42.5 |
|
5.2 |
|
Interest received |
|
|
|
4.2 |
|
6.6 |
|
Interest paid |
|
|
|
–21.0 |
|
–21.5 |
|
Income tax paid |
|
|
|
–68.8 |
|
–58.6 |
|
Total cash flow from operating activities |
|
|
|
368.7 |
|
319.6 |
|
|
|
|
|
|
|
|
|
Purchase of intangible assets |
|
14 |
|
–7.5 |
|
–6.0 |
|
Sale of intangible assets |
|
14 |
|
0.1 |
|
0.5 |
|
Purchase of property, plant and equipment |
|
15 |
|
–98.0 |
|
–108.9 |
|
Sale of property, plant and equipment |
|
15 |
|
8.9 |
|
8.1 |
|
Acquisitions of subsidiaries, net of cash acquired |
|
4 |
|
–108.2 |
|
–78.5 |
|
Acquisitions of associates |
|
17 |
|
–6.7 |
|
–0.0 |
|
Dividends from associates |
|
17 |
|
0.0 |
|
0.1 |
|
Purchase of other non-current financial assets |
|
18 |
|
–3.3 |
|
–1.1 |
|
Sale of other non-current financial assets |
|
18 |
|
1.0 |
|
0.4 |
|
Purchase of current financial assets |
|
18 |
|
–370.4 |
|
–57.4 |
|
Sale of current financial assets |
|
18 |
|
122.3 |
|
– |
|
Total cash flow from investing activities |
|
|
|
–461.8 |
|
–242.6 |
|
|
|
|
|
|
|
|
|
Dividends paid to shareholders of Sulzer Ltd |
|
24 |
|
–92.6 |
|
–81.2 |
|
Dividends paid to non-controlling interests in subsidiaries |
|
|
|
–2.6 |
|
–1.7 |
|
Purchase of treasury shares |
|
|
|
–23.1 |
|
–11.1 |
|
Payments of lease liabilities |
|
16 |
|
–39.2 |
|
–34.0 |
|
Proceeds from non-current borrowings |
|
26 |
|
498.9 |
|
0.3 |
|
Repayments of non-current borrowings |
|
26 |
|
–0.0 |
|
–0.0 |
|
Proceeds from current borrowings |
|
26 |
|
72.2 |
|
153.8 |
|
Repayments of current borrowings |
|
26 |
|
–177.1 |
|
–149.2 |
|
Total cash flow from financing activities |
|
|
|
236.5 |
|
–123.2 |
|
|
|
|
|
|
|
|
|
Exchange losses on cash and cash equivalents |
|
|
|
–55.7 |
|
–13.5 |
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents |
|
|
|
87.7 |
|
–59.7 |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents as of December 31 |
|
23 |
|
1’123.2 |
|
1’035.5 |