Consolidated cash flow statement

For the years ended 31 December 2018 and 2017, CHF million

 

Notes

 

2018

 

2017

 

 

 

 

 

 

 

Net profit

 

 

 

279

 

258

Income taxes

 

(1.4)

 

69

 

64

Financial result

 

(3.2)

 

35

 

31

Depreciation and amortization

 

(2.4, 2.5)

 

147

 

139

Other non-cash income and expenses

 

 

 

–11

 

–2

Increase in provisions, net

 

(2.6.1)

 

29

 

30

Use of provisions

 

(2.6.1)

 

–27

 

–22

Changes in

 

 

 

 

 

 

– Inventories

 

 

 

–46

 

–71

– Trade accounts receivable

 

 

 

–55

 

–56

– Prepayments to creditors

 

 

 

6

 

–10

– Other receivables and accrued income

 

 

 

–4

 

2

– Trade accounts payable

 

 

 

10

 

94

– Prepayments from customers

 

 

 

8

 

13

– Other liabilities and accrued liabilities and deferred income

 

 

 

36

 

22

Interest paid

 

 

 

–21

 

–25

Income taxes paid

 

 

 

–58

 

–57

Cash flow from operating activities

 

 

 

397

 

410

 

 

 

 

 

 

 

Additions to

 

 

 

 

 

 

– Property, plant, and equipment

 

(2.4)

 

–234

 

–207

– Intangible assets

 

(2.5)

 

–10

 

–4

– Other financial assets

 

 

 

–16

 

–5

Disposals of

 

 

 

 

 

 

– Property, plant, and equipment

 

(2.4)

 

7

 

4

– Other financial assets

 

 

 

3

 

2

Purchase/disposal of marketable securities

 

 

 

–3

 

2

Cash flow from acquisitions

 

(4.1.2)

 

–154

 

–74

Interest received

 

 

 

3

 

2

Cash flow from investing activities

 

 

 

–404

 

–280

 

 

 

 

 

 

 

Free cash flow

 

 

 

–7

 

130

 

 

 

 

 

 

 

Purchase of treasury shares

 

 

 

–12

 

–18

Disposal of treasury shares

 

 

 

3

 

15

Dividend payments to shareholders of Georg Fischer Ltd

 

 

 

–94

 

–82

Dividend payments to non-controlling interests

 

 

 

–7

 

–7

Inflows from or outflows for shares from non-controlling interests

 

 

 

4

 

7

Issuance of bonds

 

(3.1.1)

 

200

 

Repayment of bonds

 

(3.1.1)

 

–150

 

Issuance of long-term financial liabilities

 

(3.1.1)

 

2

 

21

Repayment of long-term financial liabilities

 

(3.1.1)

 

–15

 

–15

Changes in short-term financial liabilities

 

 

 

4

 

–1

Cash flow from financing activities

 

 

 

–65

 

–80

 

 

 

 

 

 

 

Translation adjustment on cash and cash equivalents

 

 

 

–19

 

3

Net cash flow

 

 

 

–91

 

53

 

 

 

 

 

 

 

Cash and cash equivalents at beginning of year

 

 

 

624

 

571

Cash and cash equivalents at year-end 1

 

 

 

533

 

624

1 Cash, postal and bank accounts: CHF 504 million (previous year: CHF 592 million), fixed-term deposits: CHF 29 million (previous year: CHF 32 million).