Consolidated statement of cash flows
January 1 – June 30
|
millions of CHF |
|
|
2024 |
|
2023 |
|
|
Cash and cash equivalents as of January 1, as per balance sheet |
|
|
|
974.7 |
|
1’196.3 |
|
Cash and cash equivalents classified as held for sale |
|
|
|
– |
|
28.6 |
|
Cash and cash equivalents as of January 1 |
|
|
|
974.7 |
|
1’224.9 |
|
|
|
|
|
|
|
|
|
Net income |
|
|
|
117.4 |
|
104.3 |
|
Interest and securities income |
|
|
–9.7 |
|
–10.5 |
|
|
Interest expenses |
|
|
14.1 |
|
16.1 |
|
|
Income tax expenses |
|
|
38.9 |
|
33.3 |
|
|
Depreciation, amortization and impairments |
|
|
|
59.1 |
|
55.0 |
|
Loss / (Gain) from disposals of tangible and intangible assets, net |
|
|
0.1 |
|
–0.6 |
|
|
Changes in inventories |
|
|
|
–27.9 |
|
–34.1 |
|
Changes in advance payments to suppliers |
|
|
|
–21.0 |
|
–28.1 |
|
Changes in contract assets |
|
|
|
–8.9 |
|
–32.2 |
|
Changes in trade accounts receivable |
|
|
|
–49.3 |
|
29.3 |
|
Changes in contract liabilities |
|
|
|
2.5 |
|
79.6 |
|
Changes in trade accounts payable |
|
|
|
8.7 |
|
–16.1 |
|
Changes in employee benefit plans |
|
|
|
–3.6 |
|
–0.9 |
|
Changes in provisions |
|
|
–6.3 |
|
8.9 |
|
|
Changes in other net current assets |
|
|
|
41.0 |
|
–54.2 |
|
Other non-cash items |
|
|
|
–9.2 |
|
10.7 |
|
Interest received |
|
|
|
8.4 |
|
10.5 |
|
Interest paid |
|
|
|
–3.7 |
|
–4.7 |
|
Income tax paid |
|
|
|
–52.7 |
|
–33.1 |
|
Total cash flow from operating activities |
|
|
|
97.9 |
|
133.3 |
|
|
|
|
|
|
|
|
|
Purchase of intangible assets |
|
|
|
–4.7 |
|
–3.5 |
|
Proceeds from the sale of intangible assets |
|
|
|
– |
|
0.0 |
|
Purchase of property, plant and equipment |
|
|
|
–39.0 |
|
–25.7 |
|
Proceeds from the sale of property, plant and equipment |
|
|
|
1.2 |
|
2.5 |
|
Acquisitions of subsidiaries, net of cash acquired |
|
|
–12.2 |
|
–1.3 |
|
|
Divestitures and deconsolidation of subsidiaries, net of cash derecognized |
|
|
– |
|
–32.0 |
|
|
Acquisitions of associates and joint ventures |
|
|
|
– |
|
–10.1 |
|
Dividends from associates |
|
|
|
– |
|
0.2 |
|
Purchase of other non-current financial assets |
|
|
|
–1.4 |
|
–0.4 |
|
Purchase of current financial assets |
|
|
|
–0.5 |
|
–1.6 |
|
Repayments of financial assets |
|
|
|
5.7 |
|
3.7 |
|
Total cash flow from investing activities |
|
|
|
–51.0 |
|
–68.2 |
|
|
|
|
|
|
|
|
|
Dividends paid to shareholders of Sulzer Ltd |
|
|
–86.5 |
|
–80.9 |
|
|
Dividends paid to non-controlling interests in subsidiaries |
|
|
|
–0.1 |
|
–0.1 |
|
Purchase of treasury shares |
|
|
|
–15.7 |
|
–9.4 |
|
Payments of lease liabilities |
|
|
|
–14.3 |
|
–14.4 |
|
Divestiture (Acquisition) of non-controlling interests |
|
|
–0.3 |
|
–19.4 |
|
|
Proceeds from current borrowings |
|
|
22.1 |
|
17.5 |
|
|
Repayments of current borrowings |
|
|
–18.9 |
|
–17.7 |
|
|
Total cash flow from financing activities |
|
|
|
–113.6 |
|
–124.3 |
|
|
|
|
|
|
|
|
|
Exchange gains / (losses) on cash and cash equivalents |
|
|
|
23.3 |
|
–24.3 |
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents |
|
|
|
–43.3 |
|
–83.5 |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents as of June 30 |
|
|
|
931.4 |
|
1’141.4 |
For the calculation of free cash flow (FCF), please refer to “Financial review”.