Consolidated statement of cash flows
| Notes | 2017 | 2018 |
|
| (Restated) |
|
CHF 1,000 |
|
|
|
Profit for the period |
| 65,930 | 70,696 |
|
|
|
|
Adjustments for |
|
|
|
Depreciation, amortization and impairment losses | 18/19 | 24,829 | 21,769 |
Change in provisions and liability for post-employment benefits | 11/22 | (3,633) | 2,625 |
Interest income | 9 | (31) | (44) |
Interest expenses | 9 | 471 | 400 |
Income taxes | 12 | 13,062 | 12,702 |
Equity-settled share-based payment transactions | 11 | 12,807 | 11,153 |
Fair value adjustment of contingent considerations | 8 | 1,036 | (1,894) |
Other non-cash items |
| 2,592 | 15 |
|
|
|
|
Change in working capital |
|
|
|
Trade accounts receivable | 15 | (16,196) | 6,657 |
Inventories | 16 | 11,174 | (7,944) |
Trade accounts payable |
| 3,551 | (3,575) |
Contract liabilities | 21 | (5,678) | (3,940) |
Other changes in working capital (net) |
| 3,081 | (1,332) |
|
|
|
|
Settlement of contingent consideration | 20 | – | (290) |
Income taxes paid |
| (13,567) | (14,296) |
|
|
|
|
Cash inflows from operating activities |
| 99,428 | 92,702 |
|
|
|
|
Acquisition of an unquoted equity investment | 17 | – | (4,000) |
Interest received |
| 29 | 40 |
Settlement of contingent consideration | 20 | – | (4,546) |
Acquisition of NuGEN Technologies, Inc., net of cash acquired | 3.2 | – | (43,805) |
Acquisition of Pulssar Technologies S.A.S., net of cash acquired | 3.2 | (2,895) | – |
Purchase of property, plant and equipment | 18 | (8,142) | (11,800) |
Proceeds from sales of property, plant and equipment | 18 | 98 | 68 |
Investment in intangible assets | 19 | (11,499) | (14,393) |
|
|
|
|
Cash outflows from investing activities |
| (22,409) | (78,436) |
|
|
|
|
Proceeds from employee participation plans | 11.4 | 3,369 | 2,454 |
Dividends paid | 23 | (20,315) | (23,462) |
Increase in/repayment of short-term credit facilities | 20 | 3,216 | (3,209) |
Increase in bank loans | 20 | 437 | – |
Repayment of bank loans | 20 | (1,503) | – |
Repayment of mortgage and settlement of interest derivative (held for sale) | 3.3 | (80) | (1,537) |
Interest paid |
| (282) | (397) |
|
|
|
|
Cash outflows from financing activities |
| (15,158) | (26,151) |
|
|
|
|
Effect of exchange rate fluctuations on cash held |
| 807 | (691) |
|
|
|
|
Increase/(decrease) in cash and cash equivalents |
| 62,668 | (12,576) |
|
|
|
|
Cash and cash equivalents, net of bank overdrafts at January 1 |
| 246,744 | 309,412 |
|
|
|
|
Cash and cash equivalents, net of bank overdrafts at December 31 | 13 | 309,412 | 296,836 |
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