Annual Report 2025

Annual Report 2025

de

Consolidated Statement of Cashflows

1.1.–31.12.

Consolidated statement of cashflows

 

 

Note

 

2025

 

2024

 

 

 

 

MCHF

 

MCHF

Cash provided by operating activities

 

 

 

 

 

 

Net income

 

 

 

597.8

 

597.1

Depreciation and amortisation

 

9/11

 

163.4

 

150.8

Financial result, net

 

24

 

32.6

 

24.4

Income tax expenses

 

25

 

136.8

 

140.3

Changes in provisions

 

 

 

23.6

 

16.8

Other non-cash expenses and income1

 

 

 

24.9

 

32.0

Operating cashflow before changes in net working capital and income taxes

 

 

 

979.1

 

961.4

Income taxes paid

 

 

 

-111.2

 

-109.7

Changes in net working capital

 

 

 

-1.0

 

-4.1

Net cash from/used in (-) operating activities

 

 

 

866.9

 

847.6

 

 

 

 

 

 

 

Cash from/used in (-) investing activities

 

 

 

 

 

 

Purchase of property, plant and equipment and intangible assets

 

 

 

-164.9

 

-195.3

Sale of property, plant and equipment and intangible assets

 

 

 

1.7

 

6.4

Government grants

 

 

 

3.9

 

0.0

Interest received

 

 

 

4.5

 

4.8

Other, net2

 

 

 

-0.2

 

20.6

Net cash from/used in (-) investing activities

 

 

 

-155.0

 

-163.5

 

 

 

 

 

 

 

Cash from/used in (-) financing activities

 

 

 

 

 

 

Proceeds from borrowings

 

14/15

 

378.4

 

442.0

Repayments of borrowings

 

14/15

 

-410.9

 

-398.9

Repayments of lease liabilities

 

 

 

-18.2

 

-16.5

Interest paid

 

 

 

-28.4

 

-26.9

Distribution

 

 

 

-421.5

 

-419.5

Share buyback programmes

 

21

 

-83.3

 

-123.1

Transactions of treasury shares

 

 

 

60.7

 

-91.5

Other, net

 

 

 

-2.4

 

-2.3

Net cash from/used in (-) financing activities

 

 

 

-525.6

 

-636.7

 

 

 

 

 

 

 

Effects of exchange rates on cash and cash equivalents

 

 

 

-8.2

 

3.5

Net increase/decrease (-) in cash and cash equivalents

 

 

 

178.1

 

50.9

 

 

 

 

 

 

 

Cash and cash equivalents at beginning of year

 

 

 

407.7

 

356.8

Cash and cash equivalents at end of year

 

 

 

585.8

 

407.7

1

Mainly contains non-cash adjustments related to share and option programmes, pension plan assets and other long-term employee benefits.

2

2024 mainly contains the disposal of pension plan-related reinsurance policies in Germany of around MCHF 20.

For further cashflow figures see Note 27

The accompanying Notes are an integral part of the consolidated financial statements.