Consolidated cash flow statement

CHF million	Notes	2022	2021

Net profit		280	200
Income tax expenses	5.3	74	53
Financial result	3.4	45	23
Share of results of associates		1	0
Depreciation and amortization	2.6	116	134
Other non-cash income and expenses		9	12
Increase and release in provisions	2.9	26	21
Use of provisions	2.9	–21	–32
Profit/loss from disposal of tangible fixed assets		–11	–5
Changes in inventories		–108	–146
Changes in trade accounts receivable		–109	–75
Changes in prepayments to creditors		2	–8
Changes in other receivables and accrued income		4	–12
Changes in trade accounts payable		50	100
Changes in prepayments from customers		–10	36
Changes in other liabilities and accrued liabilities and deferred income		70	49
Interest paid		–28	–20
Income taxes paid		–61	–43
Cash flow from operating activities		326	288

Additions to property, plant, and equipment	2.6	–160	–135
Additions to intangible assets		–5	–10
Additions to other financial assets		–28	–3
Disposals of property, plant, and equipment	2.6	7	8
Disposals of other financial assets		2	1
Purchase/disposal of marketable securities		–0	–1
Cash flow from acquisitions	4.1	–6	–41
Cash flow from divestments	4.1	61
Interest received		5	3
Cash flow from investing activities		–125	–178

Free cash flow before acquisitions/divestments		146	151
Free cash flow		201	110

Purchase of treasury shares	3.6	–5	–11
Dividend payments to shareholders of Georg Fischer Ltd		–82	–62
Dividend payments to minority interests		–10	–10
Inflows from minority interests		7	13
Repayment of bond	3.1	–150
Increase/repayment of short-term financial liabilities	3.1	–5	15
Increase/repayment of long-term financial liabilities	3.1	17	34
Cash flow from financing activities		–229	–22

Translation adjustment on cash and cash equivalents		–27	10
Net cash flow		–55	98

Cash and cash equivalents at beginning of year		932	834
Cash and cash equivalents at year-end	2.1	877	932