Consolidated statement of cash flows
| Notes | 2020 | 2021 |
CHF 1,000 |
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|
|
Profit for the period |
| 103,685 | 121,659 |
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|
|
Adjustments for |
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|
|
Depreciation, amortization and impairment losses | 19/20/21 | 37,716 | 59,044 |
Change in government grants, liability for post-employment benefits and provisions | 12.3/24/25 | 7,384 | 6,354 |
Interest income | 10 | (32) | (31) |
Interest expenses | 10 | 951 | 4,108 |
Income taxes | 13 | 14,542 | 16,266 |
Equity-settled share-based payment expense | 12.4 | 14,594 | 12,899 |
Fair value adjustment of contingent consideration | 9 | – | (1,554) |
Other non-cash items |
| 5,100 | (2,706) |
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|
|
|
Change in working capital |
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|
|
Trade accounts receivable | 16 | (5,737) | 26,628 |
Inventories | 17 | (10,594) | (43,931) |
Trade accounts payable |
| 1,901 | 5,554 |
Contract liabilities | 23 | 24,874 | 608 |
Other changes in working capital (net) |
| 25,986 | (13,213) |
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|
|
|
Income taxes paid |
| (12,035) | (21,830) |
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|
|
|
Cash inflows from operating activities |
| 208,335 | 169,855 |
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|
|
|
Investment in time deposits |
| (270,000) | (170,000) |
Repayment of time deposits |
| – | 370,000 |
Acquisition of an unquoted equity investment | 18 | (11) | (4,314) |
Sale of an unquoted equity investment (held for sale) | 3.3 | 4,588 | 198 |
Interest received |
| 29 | 31 |
Acquisition of Paramit Group, net of cash acquired | 3.2 | – | (817,447) |
Purchase of property, plant and equipment | 19 | (23,769) | (27,136) |
Proceeds from sale of property Hombrechtikon (held for sale) | 3.3 | – | 4,195 |
Proceeds from sale of other property, plant and equipment |
| 64 | 122 |
Investment in intangible assets | 21 | (17,519) | (12,583) |
Receipt of government grants | 24 | 17,877 | 5,012 |
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Cash outflows from investing activities |
| (288,741) | (651,922) |
Dividends paid | 26 | (26,242) | (27,612) |
Proceeds from employee participation plans | 12.4 | 4,574 | 4,068 |
Proceeds from authorized share capital increase |
| – | 357,500 |
Transaction costs paid |
| – | (5,838) |
Increase in/repayment of short-term credit facilities | 22 | (2,153) | – |
Payment of lease liabilities | 22 | (10,492) | (11,981) |
Proceeds from bridge loan granted by a bank for | 22 | – | 750,000 |
Repayment of bridge loan | 22 | – | (750,000) |
Increase in other bank loans | 22 | 393 | – |
Repayment of other bank loans | 22 | (1,406) | (107,056) |
Net proceeds from issuance of a bond | 22 | – | 249,445 |
Interest paid |
| (948) | (4,048) |
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|
|
|
Cash in/(out)flows from financing activities |
| (36,274) | 454,478 |
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|
|
|
Effect of exchange rate fluctuations on cash held |
| (1,154) | 155 |
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|
|
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Decrease in cash and cash equivalents |
| (117,834) | (27,434) |
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|
|
|
Cash and cash equivalents at January 1 |
| 266,274 | 148,440 |
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|
Cash and cash equivalents at December 31 | 14 | 148,440 | 121,006 |
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