Consolidated cash flow statement


CHF million	Note	Financial year ended 30.06.2019	Financial year ended 30.06.2018
Net profit		252.5	238.7
Depreciation and amortization	2.3	73.0	66.7
Income tax expenses	1.5	80.2	77.0
Interest expenses	1.4	42.1	43.2
Interest income	1.4	–1.4	–2.0
(Gain) Loss on disposal of fixed assets, net		–8.6	–1.0
Adjustment for non-cash items		5.6	10.2
Change in trade receivables		–13.0	–31.5
Change in inventories		–36.2	–12.4
Change in other current assets		–2.2	7.4
Change in trade payables		–27.5	11.8
Change in accrued pension cost		3.9	2.8
Change in accrued and other current liabilities		4.4	–43.7
Cash generated from operations		372.8	367.2
Income taxes paid		–51.2	–59.8
Interest paid		–42.3	–40.5
Interest received		1.4	2.0
Net cash from operating activities		280.7	268.9
Cash flows from investing activities
Additions of property, plant, and equipment	2.3	–84.4	–91.7
Proceeds from sale of property, plant, and equipment	2.3	14.0	3.4
Additions of intangible assets	2.3	–27.0	–23.6
Change in other non-current financial assets and prepaid transaction costs		–3.6	0.8
Acquisition of subsidiaries, net of cash acquired	4.3	–6.2	–140.0
Sale of subsidiaries, net of cash sold	4.3	0.0	20.8
Acquisition of associates and joint ventures	4.2	–1.5	–1.5
Sale of investment in associates and joint ventures	4.2	40.9	0.0
Net cash used in investing activities		–67.8	–231.8
Cash flows from financing activities
Other proceeds from (repayment of) current borrowings, net	3.1	–71.6	–694.6
Proceeds from (repayment of) non-current borrowings, net	3.1	4.4	–0.4
Change in other non-current liabilities		–0.9	–0.1
New bonds issued	3.1	0.0	680.5
Dividends paid to company’s shareholders	3.3	–62.2	–58.6
Dividends paid to minority shareholders		–54.9	–54.7
(Purchase) Sale of treasury shares	3.2	–38.7	–1.9
Net cash flows from financing activities		–223.9	–129.8
Translation exchange differences		–11.9	49.7
Net increase (decrease) in cash and cash equivalents		–22.9	–43.0
Cash and cash equivalents at beginning of period		145.3	188.3
Cash and cash equivalents at end of period		122.4	145.3
Net increase (decrease) in cash and cash equivalents		–22.9	–43.0