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Consolidated financial statements 2021 of the Galenica Group

Consolidated statement of cash flows

in thousand CHF

Note

2021

2020

Net profit

 

168,183

172,718

Income taxes

11

34,850

35,875

Depreciation and amortisation

14,15,16

98,430

96,157

(Gain)/loss on disposal of non-current assets

6,8

–9,387

–213

Increase/(decrease) in provisions and employee benefit assets and liabilities

 

5,272

–43,722

Net financial result

9

4,375

4,734

Share of profit from associates and joint ventures

17

–6,765

–4,486

Share-based payments

28

6,719

4,704

Interest received

 

542

358

Interest paid

 

–4,695

–4,934

Other financial receipts/(payments)

 

29

–226

Dividends received

17

2,548

3,087

Income taxes paid

 

–18,704

–25,288

Cash flow from operating activities before working capital changes

 

281,397

238,763

Change in trade and other receivables

 

–57,900

23,715

Change in inventories

 

18,482

–21,704

Change in trade and other payables

 

47,409

–16,053

Change in other net current assets

 

43,707

–362

Working capital changes

 

51,698

–14,403

Cash flow from operating activities

 

333,095

224,360

 

 

 

 

Investments in property, plant and equipment

 

–41,937

–36,492

Investments in intangible assets

 

–18,136

–19,195

Investments in associates and joint ventures

 

–1,256

Investments in financial assets

 

–9,999

–6,544

Proceeds from property, plant and equipment and intangible assets

 

40,258

539

Proceeds from financial assets

 

11,071

5,668

Net cash flow from business combinations

4

–69,494

–58,369

Cash flow from investing activities

 

–88,236

–115,649

 

 

 

 

Dividends paid

 

–89,509

–89,216

Purchase of treasury shares

 

–373

–183

Proceeds from sale of treasury shares

 

4,232

3,961

Proceeds from financial liabilities

19

112,698

125,973

Repayment of financial liabilities

19

–116,634

–130,771

Payment of lease liabilities

 

–49,939

–49,065

Purchase of non-controlling interests

 

–109

–189

Cash flow from financing activities

 

–139,634

–139,490

 

 

 

 

Effects of exchange rate changes on cash and cash equivalents

 

–24

27

Increase in cash and cash equivalents

 

105,201

–30,752

 

 

 

 

Cash and cash equivalents as at 1 January 1)

 

59,781

90,532

Cash and cash equivalents as at 31 December 1)

 

164,982

59,781

1) Cash and cash equivalents include cash, sight deposits at financial institutions and time deposits with an original term of three months or less. Cash and cash equivalents are measured at nominal value.

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