– Financial reporting – Consolidated statement of cash flows
Consolidated statement of cash flows
January 1 – June 30
|
millions of CHF |
|
Notes |
|
2023 |
|
2022 |
|
Cash and cash equivalents as of January 1, as per balance sheet |
|
|
|
1’196.3 |
|
1’505.4 |
|
Cash and cash equivalents classified as held for sale |
|
|
|
28.6 |
|
– |
|
Cash and cash equivalents as of January 1 |
|
|
|
1’224.9 |
|
1’505.4 |
|
|
|
|
|
|
|
|
|
Net income |
|
|
|
104.3 |
|
–48.8 |
|
Interest and securities income |
|
8 |
|
–10.5 |
|
–3.5 |
|
Interest expenses |
|
8 |
|
16.1 |
|
13.2 |
|
Income tax expenses |
|
9 |
|
33.3 |
|
30.5 |
|
Depreciation, amortization and impairments |
|
|
|
55.0 |
|
95.2 |
|
Income from disposals of tangible and intangible assets |
|
7 |
|
–0.6 |
|
–4.7 |
|
Changes in inventories |
|
|
|
–34.1 |
|
–41.8 |
|
Changes in advance payments to suppliers |
|
|
|
–28.1 |
|
–0.5 |
|
Changes in contract assets |
|
|
|
–32.2 |
|
–26.2 |
|
Changes in trade accounts receivable |
|
|
|
29.3 |
|
–28.9 |
|
Changes in contract liabilities |
|
|
|
79.6 |
|
64.5 |
|
Changes in trade accounts payable |
|
|
|
–16.1 |
|
29.4 |
|
Changes in employee benefit plans |
|
|
|
–0.9 |
|
–4.1 |
|
Changes in provisions |
|
|
|
8.9 |
|
–8.8 |
|
Changes in other net current assets |
|
|
|
–54.2 |
|
–43.2 |
|
Other non-cash items |
|
|
|
10.7 |
|
–14.1 |
|
Interest received |
|
|
|
10.5 |
|
3.3 |
|
Interest paid |
|
|
|
–4.7 |
|
–4.8 |
|
Income tax paid |
|
|
|
–33.1 |
|
–54.1 |
|
Total cash flow from operating activities |
|
|
|
133.3 |
|
–47.6 |
|
|
|
|
|
|
|
|
|
Purchase of intangible assets |
|
|
|
–3.5 |
|
–2.8 |
|
Sale of intangible assets |
|
|
|
0.0 |
|
0.0 |
|
Purchase of property, plant and equipment |
|
|
|
–25.7 |
|
–34.4 |
|
Sale of property, plant and equipment |
|
|
|
2.5 |
|
6.6 |
|
Acquisitions of subsidiaries, net of cash acquired |
|
4 |
|
–1.3 |
|
–4.2 |
|
Divestitures and deconsolidation of subsidiaries, net of cash derecognized |
|
5 |
|
–32.0 |
|
3.1 |
|
Acquisitions of associates |
|
4 |
|
–10.1 |
|
–0.0 |
|
Dividends from associates |
|
|
|
0.2 |
|
0.1 |
|
Purchase of other non-current financial assets |
|
|
|
–0.4 |
|
–0.4 |
|
Repayments of other non-current financial assets |
|
|
|
– |
|
2.9 |
|
Purchase of current financial assets |
|
|
|
–1.6 |
|
–0.0 |
|
Repayments of current financial assets |
|
|
|
3.7 |
|
0.7 |
|
Total cash flow from investing activities |
|
|
|
–68.2 |
|
–28.3 |
|
|
|
|
|
|
|
|
|
Dividends paid to shareholders of Sulzer Ltd |
|
10 |
|
–80.9 |
|
–80.6 |
|
Dividends paid to non-controlling interests in subsidiaries |
|
|
|
–0.1 |
|
–1.1 |
|
Purchase of treasury shares |
|
|
|
–9.4 |
|
–10.8 |
|
Payments of lease liabilities |
|
|
|
–14.4 |
|
–17.1 |
|
Acquisition of non-controlling interests |
|
4 |
|
–19.4 |
|
– |
|
Proceeds from current borrowings |
|
11 |
|
17.5 |
|
272.3 |
|
Repayments of current borrowings |
|
11 |
|
–17.7 |
|
–276.0 |
|
Total cash flow from financing activities |
|
|
|
–124.3 |
|
–113.4 |
|
|
|
|
|
|
|
|
|
Exchange gains / (losses) on cash and cash equivalents |
|
|
|
–24.3 |
|
26.0 |
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents |
|
|
|
–83.5 |
|
–163.3 |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents as of June 30 |
|
|
|
1’141.4 |
|
1’342.0 |
|
Cash and cash equivalents classified as held for sale |
|
5 |
|
– |
|
–41.5 |
|
Cash and cash equivalents as of June 30 as per balance sheet |
|
|
|
1’141.4 |
|
1’300.6 |
For the calculation of free cash flow (FCF), please refer to “Financial review”.