Consolidated cash flow statement

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For the years ended 31 December 2019 and 2018, CHF million

 

Notes

 

2019

 

2018

 

 

 

 

 

 

 

Net profit

 

 

 

172

 

279

Income taxes

 

1.5

 

31

 

69

Financial result

 

3.2

 

25

 

35

Depreciation and amortization

 

2.4

 

139

 

147

Share of results of associates

 

3.2

 

13

 

 

Other non-cash income and expenses

 

 

 

26

 

–11

Increase in provisions, net

 

2.6.1

 

38

 

29

Use of provisions

 

2.6.1

 

–25

 

–27

Changes in

 

 

 

 

 

 

– Inventories

 

 

 

–25

 

–46

– Trade accounts receivable

 

 

 

70

 

–55

– Prepayments to creditors

 

 

 

–2

 

6

– Other receivables and accrued income

 

 

 

–1

 

–4

– Trade accounts payable

 

 

 

–30

 

10

– Prepayments from customers

 

 

 

–23

 

8

– Other liabilities and accrued liabilities and deferred income

 

 

 

–13

 

36

Interest paid

 

 

 

–18

 

–21

Income taxes paid

 

 

 

–59

 

–58

Cash flow from operating activities

 

 

 

318

 

397

 

 

 

 

 

 

 

Additions to

 

 

 

 

 

 

– Property, plant, and equipment

 

2.4

 

–178

 

–234

– Intangible assets

 

 

 

–8

 

–10

– Other financial assets

 

5.2

 

–26

 

–16

Disposals of

 

 

 

 

 

 

– Property, plant, and equipment

 

2.4

 

23

 

7

– Intangible assets

 

 

 

1

 

 

– Other financial assets

 

 

 

 

 

3

Purchase/disposal of marketable securities

 

 

 

3

 

–3

Cash flow from acquisitions

 

4.1.2

 

–5

 

–154

Interest received

 

 

 

4

 

3

Cash flow from investing activities

 

 

 

–186

 

–404

 

 

 

 

 

 

 

Free cash flow before acquisitions/divestments

 

 

 

137

 

147

 

 

 

 

 

 

 

Free cash flow

 

 

 

132

 

–7

 

 

 

 

 

 

 

Purchase of treasury shares

 

 

 

–10

 

–12

Disposal of treasury shares

 

 

 

 

 

3

Dividend payments to shareholders of Georg Fischer Ltd

 

 

 

–103

 

–94

Dividend payments to non-controlling interests

 

 

 

–11

 

–7

Inflows from or outflows for shares from non-controlling interests

 

 

 

8

 

4

Issuance of bonds

 

3.1.1

 

 

 

200

Repayment of bonds

 

3.1.1

 

 

 

–150

Issuance of long-term financial liabilities

 

3.1.1

 

 

 

2

Repayment of long-term financial liabilities

 

3.1.1

 

–18

 

–15

Changes in short-term financial liabilities

 

 

 

 

 

4

Cash flow from financing activities

 

 

 

–134

 

–65

 

 

 

 

 

 

 

Translation adjustment on cash and cash equivalents

 

 

 

–10

 

–19

Net cash flow

 

 

 

–12

 

–91

 

 

 

 

 

 

 

Cash and cash equivalents at beginning of year

 

 

 

533

 

624

Cash and cash equivalents at year-end 1

 

 

 

521

 

533

1 Cash, postal and bank accounts: CHF 514 million (previous year: CHF 504 million), fixed-term deposits: CHF 7 million (previous year: CHF 29 million).

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