Consolidated Cash Flow Statement - Integrated Annual Report and Remuneration Report 2019

CHF millions		Note	2019	2018

	Consolidated profit incl. minorities		73.7	60.1
+	Asset depreciation		77.7	73.4
+/–	Loss/gain from applying/removing impairments		–	0.2
+/–	Increase/decrese in provisions		1.1	0.2
+/–	Loss/gain from disposals of tangible assets		0.2	3.1
+/–	Other changes in non-cash items		0.4	– 1.3
=	Operating Cash Flow before Change of Net Working Capital		153.1	135.7

+/–	Decrease/increase in accounts receivables		7.9	– 14.1
+/–	Decrease/increase in inventories		– 11.5	0.8
+/–	Decrease/increase in other receivables and accruals		3.2	– 0.1
+/–	Increase/decrease in accounts payables		1.6	11.6
+/–	Increase/decrease in other liabilities and deferrals		2.4	1.7
=	Cash Inflow/Drain from Operating Activities		156.7	135.6

–	Outflows for investments in tangible assets	25	– 121.1	– 114.2
+	Inflows for sales of tangible assets		0.7	0.6
–	Outflows for investments in financial assets		–	– 2.3
–	Cash-out for acqusitions of consolidated companies		– 5.9	–
–	Outflows for investments in intangible assets		– 2.6	– 1.4
+/–	Changes in marketable securities		0.3	10.3
=	Cash Inflow/Drain from Investment Activities		– 128.6	– 107.0

–	Dividend distribution to shareholders		– 19.8	– 17.8
–	Dividend distribution to minorities		–	– 0.1
+/–	Formation/repayment of short-tem financial debts		– 44.6	– 12.1
+/–	Formation/repayment of long-tem financial debts		4.8	–
=	Cash Inflow/Drain from Financing Activities		– 59.6	– 30.0

	Foreign Exchange differences		0.8	– 0.7

	Changes in Liquid Funds		– 30.7	– 2.1

	Liquid funds as per 1.1.		131.5	133.6
	Liquid funds as per 31.12.		100.8	131.5
	Changes in Liquid Funds		– 30.7	– 2.1

	Inflows from interest		0.4	0.3
	Outflows for interest		– 0.4	– 0.4
	Outflows for income taxes		– 17.5	– 16.5