Consolidated cash flow statement

CHF million	Reporting half-year ended 31.12.2022	Reporting half-year ended 31.12.2021
Net profit	84.9	100.6
Depreciation and amortization	38.2	41.9
Income tax expenses	29.8	30.0
Interest expenses	18.6	9.3
Interest income	–0.5	–0.5
(Gain) Loss on disposal of fixed assets, net	0.1	–1.7
Adjustment for non-cash items	4.8	–0.6
Change in trade receivables	–2.7	–2.8
Change in inventories	–28.4	–71.7
Change in other current assets	–7.7	–10.1
Change in trade payables	11.2	12.7
Change in accrued pension cost	3.4	–0.6
Change in accrued and other current liabilities	–14.1	–18.8
Cash generated from operations	137.6	87.7
Income taxes paid	–16.8	–27.0
Interest paid	–17.4	–11.9
Interest received	0.5	0.5
Net cash from operating activities	103.9	49.3
Cash flows from investing activities
Additions of property, plant, and equipment	–25.2	–25.6
Proceeds from sale of property, plant, and equipment	0.8	2.2
Additions of intangible assets	–14.2	–10.6
Change in non-current financial assets	–2.4	0.5
Acquisition of subsidiaries, net of cash acquired	–12.8	–80.7
Sale of subsidiaries, net of cash sold	0.0	11.0
Net cash used in investing activities	–53.8	–103.2
Free cash flow	50.1	–53.9
Cash flows from financing activities
Repayment of bond	0.0	–340.0
Other proceeds from (repayment of) current borrowings, net	–218.0	434.2
Proceeds from (repayment of) non-current borrowings, net	–1.7	3.9
Change in other non-current liabilities	–0.3	–0.6
New bonds issued	274.2	0.0
Dividends paid to company’s shareholders	–48.1	–52.2
Dividends paid to minority shareholders	–43.1	–44.8
Net cash flows from financing activities	–37.0	0.5
Translation exchange differences	2.7	–17.5
Net increase (decrease) in cash and cash equivalents	15.8	–70.9
Cash and cash equivalents at beginning of period	104.5	169.1
Cash and cash equivalents at end of period	120.3	98.2
Net increase (decrease) in cash and cash equivalents	15.8	–70.9