| 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 |