Consolidated Statements of Cashflows

1.1. – 31.12.

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  Note 2017 2016
    MCHF MCHF
The accompanying Notes are an integral part of the consolidated financial statements.   
For further cashflow figures see Note 28
Cash provided by operating activities      
Net income   527.4 548.2
Depreciation and amortisation 9/11 150.3 145.1
Financial result, net 24 9.4 9.3
Income tax expenses 25 84.9 82.6
Other non-cash income and expenses   34.2 18.5
Operating cashflow before changes in net working capital and taxes   806.2 803.7
Income taxes paid   -129.7 -98.6
Changes in trade accounts receivable   4.2 -29.4
Changes in inventories   -20.0 -2.6
Changes in trade accounts payable   6.7 13.4
Changes in other positions of net working capital   -27.0 28.7
Net cash from/used (-) in operating activities   640.4 715.2
       
Cash from/used (-) in investing activities      
Sales of subsidiaries 2/10 9.7 32.8
Purchase of property, plant & equipment and intangible assets 9/11 -159.0 -139.1
Proceeds from sale of property, plant & equipment and intangible assets   3.5 6.2
Interest received   0.0 0.9
Other, net   -2.0 -0.5
Net cash from/used (-) in investing activities   -147.8 -99.7
       
Cash from/used (-) in financing activities      
Proceeds from borrowings 14/15 70.2 50.3
Repayments of borrowings 14/15 -207.5 -223.1
Interest paid   -6.4 -6.2
Distribution   -368.4 -309.3
Share buyback programme   -88.3 -50.7
Purchase (-)/Sale of treasury shares   -2.1 -22.2
Financing cost paid   -1.5 -0.4
Other, net   -1.3 -1.3
Net cash from/used (-) in financing activities   -605.3 -562.9
       
Effects of exchange rates on cash and cash equivalents   15.7 -2.5
Net increase/decrease (-) in cash and cash equivalents   -97.0 50.1
       
Cash and cash equivalents at beginning of year   509.7 459.6
Cash and cash equivalents at end of year   412.7 509.7