Annual Report 2025

Consolidated Statement of Cash Flows

in CHF 1 000

Note

2025

2024

Net income

181 625

146 722

Income taxes

5.1

41 568

29 429

Interest result

3.4

576

215

Depreciation of property, plant and equipment

2.3

31 440

29 888

Amortization of intangible assets

2.4

6 924

6 569

Gain on sale of property, plant and equipment

2.3

-225

-370

Non-cash items non-current employee benefits

1.2

-2 883

-4 454

Other non-cash items

-1 616

4 150

Expenses for share-based payments

1.2

2 210

1 357

Deferred compensation share-based payments

1.2

-

2 624

Change in net working capital

2.1

-67 188

-1 309

Change in other assets and liabilities

2.2

19 242

12 151

Change in provisions

2.5

853

-1 868

Income taxes paid

-27 671

-30 322

Cash flow from operating activities

184 857

194 780

Investments in property, plant and equipment

2.3

-79 424

-58 690

Investments in intangible assets

2.4

-7 412

-4 364

Purchase of financial assets1)

3.3

-15 000

-40 132

Proceeds from sale of property, plant and equipment

237

461

Proceeds from sale of financial assets1)

3.3

40 046

-

Interest received

3.4

223

771

Cash flow from investing activities

-61 331

-101 954

Acquisition of non-controlling interests

-

-387

Purchase of treasury shares

3.5

-430

-3 994

Dividends paid

3.5

-116 849

-104 541

Interest paid

3.3

-880

-1 498

Repayment of financial borrowings

3.3

-341

-30 284

Repayment of lease liabilities

3.3

-4 312

-3 955

Proceeds from cash contribution share-based payments

1.2

-

700

Proceeds from financial borrowings

3.3

6 164

36 140

Cash flow from financing activities

-116 648

-107 818

Currency translation adjustment in respect of cash and cash equivalents

-3 405

1 324

Change in cash and cash equivalents

3 474

-13 667

Cash and cash equivalents at beginning of period

97 166

110 833

Cash and cash equivalents at end of period

3.1

100 640

97 166

1) CHF 15.0 million, in term deposits with maturities of more than three months from the date of acquisition, were invested, while CHF 40.0 million were divested during the reporting period (2024: investment of CHF 40.0 million in term deposits).