Consolidated cash flow statement - Integrated annual report 2023

CHF millions	Note	2023	2022

Consolidated profit		63.3	40.7
Depreciation and amortisation		74.9	73.1
Impairments		– 1.1	25.7
Change in provisions		– 6.3	3.0
Result from disposals of fixed assets		– 0.2	0.5
Other non-cash items		– 0.5	– 0.8
Operating cash flow before change of net working capital		130.1	142.2

Change in accounts receivable		32.1	– 46.4
Change in inventories		– 53.0	– 27.4
Change in other receivables, prepaid expenses and accrued income		– 4.8	– 19.8
Change in accounts payable		– 38.0	80.0
Change in other short-term liabilities, accrued expenses and deferred income		6.0	1.9
Cash flow from operating activities		72.4	130.5

Investments in tangible assets	23	– 235.6	– 194.1
Disposals of tangible assets		1.5	2.9
Investments in financial assets		– 0.1	–
Investments in intangible assets		– 2.3	– 0.5
Cash flow from investment activities		– 236.5	– 191.7

Dividend to shareholders		– 19.8	– 25.8
Change in short-term financial debts		– 4.0	– 2.7
Change in long-term financial debts		94.1	147.8
Cash Flow from financing activities		70.3	119.3

Foreign exchange differences		– 4.3	– 4.0

Change in liquid funds		– 98.1	54.1

Liquid funds as per 1.1.		180.3	126.2
Liquid funds as per 31.12.		82.2	180.3
Change in liquid funds		– 98.1	54.1

Inflow from interest		0.6	0.4
Outflow for interest		– 1.0	– 1.0
Outflow for income taxes		– 16.1	– 12.2