Consolidated Statement of Cash Flows

in CHF 1 000	Note	1^st half 2025	1^st half 2024

Net income		101 258	77 179
Income taxes		20 813	15 693
Interest result		203	317
Depreciation of property, plant and equipment		15 424	14 521
Amortization of intangible assets		3 599	3 086
Gain on sale of property, plant and equipment		-158	-225
Non-cash items non-current employee benefits		-1 361	-2 365
Other non-cash items		-4 799	816
Change in net working capital		-43 321	-20 124
Change in other assets and liabilities		14 885	9 756
Change in provisions	6	610	939
Income taxes paid		-13 677	-14 013
Cash flow from operating activities		93 476	85 581

Investments in property, plant and equipment	3	-35 925	-14 422
Investments in intangible assets		-4 990	-1 995
Purchase of financial assets		-	-146
Proceeds from sale of property, plant and equipment		167	279
Proceeds from sale of financial assets¹⁾		40 000	78
Interest received		98	410
Cash flow from investing activities		-649	-15 796

Acquisition of non-controlling interests		-	-387
Dividends paid	7	-116 849	-104 541
Interest paid		-394	-440
Repayment of financial borrowings	5	-142	-30 142
Repayment of lease liabilities		-2 026	-1 993
Proceeds from financial borrowings	5	4 721	31 518
Cash flow from financing activities		-114 690	-105 984

Currency translation adjustment in respect of cash and cash equivalents		-2 572	1 769

Change in cash and cash equivalents		-24 435	-34 431

Cash and cash equivalents at beginning of period		97 166	110 833
Cash and cash equivalents at end of period		72 732	76 403

¹⁾CHF 40.0 million in term deposits with maturities of more than three months from the date of acquisition were divested in the first half of 2025 (first half 2024: none).