Consolidated Statements of Cashflows

1.1. – 31.12.

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  Note 2018 2017
    MCHF MCHF
1 Following a reclassification in 2018, the prior year figures relating to net cash from operating activities were adjusted accordingly in the interests of comparability.
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   597.2 527.4
Depreciation and amortisation 9/11 160.2 150.3
Financial result, net 24 20.4 9.4
Income tax expenses 25 90.0 84.9
Other non-cash income and expenses1   -6.5 16.7
Operating cashflow before changes in net working capital and taxes   861.3 788.7
Income taxes paid   -102.7 -129.7
Changes in trade accounts receivable1   12.8 4.5
Changes in inventories1   -4.9 -18.5
Changes in trade accounts payable   -27.1 6.7
Changes in other positions of net working capital1   8.1 -11.3
Net cash from/used in (-) operating activities   747.5 640.4
       
Cash from/used in (-) investing activities      
Sales of subsidiaries 2/10 0.0 9.7
Purchase of property, plant & equipment and intangible assets 9/11 -162.4 -159.0
Proceeds from sale of property, plant & equipment and intangible assets   8.6 3.5
Interest received   0.0 0.0
Other, net   -2.8 -2.0
Net cash from/used in (-) investing activities   -156.6 -147.8
       
Cash from/used in (-) financing activities      
Proceeds from borrowings 14/15 691.8 70.2
Repayments of borrowings 14/15 -737.1 -207.5
Interest paid   -6.0 -6.4
Distribution   -380.8 -368.4
Share buyback programme 21 -183.6 -88.3
Purchase (-)/sale of treasury shares   -92.2 -2.1
Financing cost paid   -0.4 -1.5
Other, net   -5.8 -1.3
Net cash from/used in (-) financing activities   -714.1 -605.3
       
Effects of exchange rates on cash and cash equivalents   -7.3 15.7
Net increase/decrease (-) in cash and cash equivalents   -130.5 -97.0
       
Cash and cash equivalents at beginning of year   412.7 509.7
Cash and cash equivalents at end of year   282.2 412.7

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