– Financial reporting – Consolidated statement of cash flows
Consolidated statement of cash flows
January 1 – June 30
|
millions of CHF |
|
Notes |
|
2022 |
|
2021 |
|
Cash and cash equivalents as of January 1 |
|
|
|
1’505.4 |
|
1’123.2 |
|
|
|
|
|
|
|
|
|
Net income |
|
|
|
–48.8 |
|
86.3 |
|
Interest and securities income |
|
9 |
|
–3.5 |
|
–1.7 |
|
Interest expenses |
|
9 |
|
13.2 |
|
13.1 |
|
Income tax expenses |
|
10 |
|
30.5 |
|
27.9 |
|
Depreciation, amortization and impairments |
|
|
|
95.2 |
|
90.8 |
|
Income from disposals of tangible and intangible assets |
|
8 |
|
–4.7 |
|
–1.0 |
|
Changes in inventories |
|
|
|
–41.8 |
|
–38.6 |
|
Changes in advance payments to suppliers |
|
|
|
–0.5 |
|
–16.7 |
|
Changes in contract assets |
|
|
|
–26.2 |
|
–36.2 |
|
Changes in trade accounts receivable |
|
|
|
–28.9 |
|
52.8 |
|
Changes in contract liabilities |
|
|
|
64.5 |
|
29.8 |
|
Changes in trade accounts payable |
|
|
|
29.4 |
|
–8.9 |
|
Changes in employee benefit plans |
|
|
|
–4.1 |
|
–5.8 |
|
Changes in provisions |
|
|
|
–8.8 |
|
–4.0 |
|
Changes in other net current assets |
|
|
|
–43.2 |
|
20.3 |
|
Other non-cash items |
|
|
|
–14.1 |
|
–6.3 |
|
Interest received |
|
|
|
3.3 |
|
1.7 |
|
Interest paid |
|
|
|
–4.8 |
|
–4.0 |
|
Income tax paid |
|
|
|
–54.1 |
|
–44.3 |
|
Total cash flow from operating activities |
|
|
|
–47.6 |
|
155.1 |
|
– thereof discontinued operations |
|
|
|
– |
|
47.9 |
|
|
|
|
|
|
|
|
|
Purchase of intangible assets |
|
|
|
–2.8 |
|
–4.0 |
|
Sale of intangible assets |
|
|
|
0.0 |
|
0.0 |
|
Purchase of property, plant and equipment |
|
|
|
–34.4 |
|
–38.9 |
|
Sale of property, plant and equipment |
|
|
|
6.6 |
|
4.9 |
|
Acquisitions of subsidiaries, net of cash acquired |
|
4 |
|
–4.2 |
|
–123.9 |
|
Divestitures of subsidiaries, net of cash derecognized |
|
4 |
|
3.1 |
|
0.4 |
|
Acquisitions of associates |
|
|
|
–0.0 |
|
–6.9 |
|
Dividends from associates |
|
|
|
0.1 |
|
0.5 |
|
Purchase of other non-current financial assets |
|
|
|
–0.4 |
|
–5.7 |
|
Repayments of other non-current financial assets |
|
|
|
2.9 |
|
0.2 |
|
Purchase of current financial assets |
|
|
|
–0.0 |
|
–0.0 |
|
Repayments of current financial assets |
|
|
|
0.7 |
|
302.5 |
|
Total cash flow from investing activities |
|
|
|
–28.3 |
|
129.1 |
|
– thereof discontinued operations |
|
|
|
– |
|
16.1 |
|
|
|
|
|
|
|
|
|
Dividends paid to shareholders of Sulzer Ltd |
|
11 |
|
–80.6 |
|
–91.9 |
|
Dividends paid to non-controlling interests in subsidiaries |
|
|
|
–1.1 |
|
–2.1 |
|
Purchase of treasury shares |
|
|
|
–10.8 |
|
–14.5 |
|
Payments of lease liabilities |
|
|
|
–17.1 |
|
–20.7 |
|
Acquisition of non-controlling interests |
|
|
|
– |
|
–17.3 |
|
Proceeds from non-current borrowings |
|
12 |
|
– |
|
0.0 |
|
Repayments of non-current borrowings |
|
12 |
|
– |
|
–2.8 |
|
Proceeds from current borrowings |
|
12 |
|
272.3 |
|
27.8 |
|
Repayments of current borrowings |
|
12 |
|
–276.0 |
|
–28.4 |
|
Total cash flow from financing activities |
|
|
|
–113.4 |
|
–149.7 |
|
– thereof discontinued operations |
|
|
|
– |
|
7.3 |
|
|
|
|
|
|
|
|
|
Exchange gains / (losses) on cash and cash equivalents |
|
|
|
26.0 |
|
34.9 |
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents |
|
|
|
–163.3 |
|
169.3 |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents as of June 30 |
|
|
|
1’342.0 |
|
1’292.5 |
|
Cash and cash equivalents classified as held for sale |
|
7 |
|
–41.5 |
|
– |
|
Cash and cash equivalents as of June 30 as per balance sheet |
|
|
|
1’300.6 |
|
1’292.5 |
Due to rounding, numbers presented may not add up to the totals provided.
For the calculation of free cash flow (FCF), please refer to “Financial review”.