Consolidated financial statements

Cash flow statement for the year ended
31 December 2016

CHF million

 

Notes

 

2016

 

2015

 

 

 

 

 

 

 

Net profit

 

 

 

225

 

198

Income taxes

 

(28)

 

56

 

53

Financial result

 

(26)

 

31

 

48

Depreciation and amortization

 

(7, 8)

 

132

 

126

Other non-cash income and expenses

 

 

 

17

 

3

Increase in provisions, net

 

(12)

 

32

 

30

Use of provisions

 

(12)

 

–31

 

–34

Loss/profit from disposal of tangible fixed assets

 

 

 

1

 

–22

Changes in

 

 

 

 

 

 

– Inventories

 

 

 

–44

 

–2

– Trade accounts receivable

 

 

 

–33

 

–45

– Other receivables and accrued income

 

 

 

–3

 

3

– Trade accounts payable

 

 

 

53

 

26

– Other liabilities and accrued liabilities and deferred income

 

 

 

36

 

21

Interest paid

 

 

 

–31

 

–32

Income taxes paid

 

 

 

–41

 

–45

Cash flow from operating activities

 

 

 

400

 

328

 

 

 

 

 

 

 

Additions to

 

 

 

 

 

 

– Property, plant, and equipment

 

(7)

 

–174

 

–167

– Intangible assets

 

(8)

 

–5

 

–4

Disposals of

 

 

 

 

 

 

– Property, plant, and equipment

 

(7)

 

4

 

30

– Intangible assets

 

(8)

 

1

 

– Other financial assets

 

 

 

3

 

2

Purchase/disposal of marketable securities

 

 

 

 

–1

Cash flow from acquisitions

 

(2)

 

–96

 

–1

Cash flow from divestitures

 

(2)

 

 

–1

Interest received

 

 

 

2

 

2

Cash flow from investing activities

 

 

 

–265

 

–140

 

 

 

 

 

 

 

Free cash flow

 

 

 

135

 

188

 

 

 

 

 

 

 

Purchase of treasury shares

 

 

 

–17

 

–13

Disposal of treasury shares

 

 

 

6

 

12

Dividend payments to shareholders of Georg Fischer Ltd

 

 

 

–74

 

–70

Dividend payments to non-controlling interests

 

 

 

–15

 

–7

Inflows from or outflows for shares from non-controlling interests

 

 

 

1

 

Issuance of bonds

 

(13)

 

224

 

 

Repayment of bonds

 

(13)

 

–200

 

Issuance of long-term financial liabilities

 

(13)

 

 

68

Repayment of long-term financial liabilities

 

(13)

 

–17

 

–4

Changes in short-term financial liabilities

 

 

 

–15

 

14

Cash flow from financing activities

 

 

 

–107

 

0

 

 

 

 

 

 

 

Translation adjustment on cash and cash equivalents

 

 

 

–6

 

–13

Net cash flow

 

 

 

22

 

175

 

 

 

 

 

 

 

Cash and cash equivalents at beginning of year

 

 

 

549

 

374

Cash and cash equivalents at year-end 1

 

 

 

571

 

549

1 Cash, postal and bank accounts: CHF 511 million (previous year: CHF 507 million), fixed-term deposits: CHF 60 million (previous year: CHF 42 million).