CHF million | Note | 2024 | 2023 |
---|---|---|---|
Cash flow from operating activities | |||
Earnings | 1,230 | 1,464 | |
Adjustments to reconcile earnings for the year to net cash flows: | |||
Income tax | 12 | 408 | 492 |
Financial income | 11 | –24 | –73 |
Financial expenses | 11 | 46 | 25 |
Result from joint ventures and associates | –6 | –5 | |
Depreciation of property, plant and equipment | 14 | 185 | 177 |
Depreciation of right-of-use assets | 15 | 587 | 544 |
Amortisation of other intangibles | 16 | 52 | 54 |
Expenses for share-based compensation plans | 22 | 22 | 23 |
(Gain)/loss on disposal of property, plant and equipment, net | 10 | –2 | –15 |
Net addition to provisions for pension plans and severance payments | – | –4 | |
Subtotal operational cash flow | 2,498 | 2,682 | |
(Increase)/decrease contract assets | –27 | 241 | |
(Increase)/decrease trade and other receivables, prepayments | –663 | 1,266 | |
Increase/(decrease) provisions | –7 | –6 | |
Increase/(decrease) other liabilities | 15 | –230 | |
Increase/(decrease) trade payables, contract liabilities and accrued trade expenses | 38 | –1,463 | |
Income taxes paid | –370 | –791 | |
Total cash flow from operating activities | 1,484 | 1,699 | |
Cash flow from investing activities | |||
Capital expenditure | |||
— Property, plant and equipment | 14 | –300 | –306 |
— Other intangibles | 16 | –4 | –4 |
Disposal of property, plant and equipment | 26 | 77 | |
(Acquisition)/divestment of businesses, net of cash (acquired)/disposed | 28 | –201 | –29 |
Settlement of deferred/contingent considerations from business combinations | –2 | –31 | |
Capital (contributions to)/distributions from joint ventures and associates | – | –2 | |
Dividend received from joint ventures and associates | 5 | 4 | |
Interest received | 24 | 48 | |
Total cash flow from investing activities | –452 | –243 | |
Cash flow from financing activities | |||
Repayment of other interest-bearing liabilities | –2 | – | |
Repayment of lease liabilities | 15 | –580 | –543 |
Interest paid on borrowings and other interest-bearing liabilities | –5 | –4 | |
Interest paid on lease liabilities | 15 | –32 | –20 |
Purchase of treasury shares | 20 | –51 | –716 |
Dividend paid to equity holders of parent company | 20 | –1,182 | –1,661 |
Dividend paid to non-controlling interests | 20 | –24 | –172 |
Acquisition of non-controlling interests | –33 | –7 | |
Total cash flow from financing activities | –1,909 | –3,123 | |
Foreign exchange difference on cash and cash equivalents | 11 | –95 | |
Increase/(decrease) in cash and cash equivalents | –866 | –1,762 | |
Cash and cash equivalents at the beginning of the year, net | 19 | 2,008 | 3,770 |
Cash and cash equivalents at the end of the year, net | 19 | 1,142 | 2,008 |
Bank overdraft | 10 | 3 | |
Cash and cash equivalents on balance sheet | 1,152 | 2,011 |