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Consolidated statement of cash flows

in thousand CHF

Note

2022

2021

Net profit

 

165,859

168,183

Income taxes

11

33,767

34,850

Depreciation, amortisation and impairment

14,15,16

100,474

98,430

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

6,8

–205

–9,387

(Gain)/loss on disposal of subsidiaries

4

–853

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

 

2,598

5,272

Net financial result

9

3,685

4,375

Share of profit from associates and joint ventures

17

–4,202

–6,765

Share-based payments

28

7,109

6,719

Interest received

 

542

542

Interest paid

 

–5,612

–4,695

Other financial receipts/(payments)

 

–153

29

Dividends received

17

6,860

2,548

Income taxes paid

 

–28,118

–18,704

Cash flow from operating activities before working capital changes

 

281,750

281,397

Change in trade and other receivables

 

–53,724

–57,900

Change in inventories

 

–19,531

18,482

Change in trade and other payables

 

–10,988

47,409

Change in other net current assets

 

39,366

43,707

Working capital changes

 

–44,877

51,698

Cash flow from operating activities

 

236,873

333,095

 

 

 

 

Investments in property, plant and equipment

 

–41,061

–41,937

Investments in intangible assets

 

–29,305

–18,136

Investments in associates and joint ventures

17

–3,833

Investments in financial assets

 

–18,592

–9,999

Proceeds from sale of property, plant and equipment and intangible assets

 

524

40,258

Proceeds from sale of financial assets

 

2,264

11,071

Net cash flow from business combinations

4

–38,462

–69,494

Net cash flow from sale of subsidiaries

4

1,913

Cash flow from investing activities

 

–126,552

–88,236

 

 

 

 

Dividends paid

 

–104,810

–89,509

Purchase of treasury shares

 

–539

–373

Proceeds from sale of treasury shares

 

4,886

4,232

Proceeds from financial liabilities

19

1,607

112,698

Repayment of financial liabilities

19

–25,893

–116,634

Payment of lease liabilities

 

–52,459

–49,939

Purchase of non-controlling interests

 

–4,069

–109

Cash flow from financing activities

 

–181,276

–139,634

 

 

 

 

Effects of exchange rate changes on cash and cash equivalents

 

–101

–24

Increase in cash and cash equivalents

 

–71,055

105,201

 

 

 

 

Cash and cash equivalents as at 1 January 1)

 

164,982

59,781

Cash and cash equivalents as at 31 December 1)

 

93,927

164,982

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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