Consolidated statement of cash flows

in thousand CHF	1.1.–30.6.2021	1.1.–30.6.2020
Net profit	79,559	66,349
Income taxes	17,108	13,602
Depreciation and amortisation	47,589	47,008
(Gain)/loss on disposal of non-current assets	–90	–36
Increase/(decrease) in provisions and employee benefit assets and liabilities	5,166	1,970
Net financial result	2,337	2,331
Share of profit from associates and joint ventures	–3,748	–1,589
Share-based payments	2,522	2,125
Interest received	188	357
Interest paid	–1,852	–1,788
Other financial receipts/(payments)	–22	–114
Dividends received	2,548	3,087
Income taxes paid	–12,608	–14,576
Cash flow from operating activities before working capital changes	138,697	118,726
Change in trade and other receivables	–125,115	–41,351
Change in inventories	24,499	–13,651
Change in trade and other payables	56,332	–27,179
Change in other net current assets	44,207	28,320
Working capital changes	–78	–53,861
Cash flow from operating activities	138,619	64,865

Investments in property, plant and equipment	–17,871	–15,582
Investments in intangible assets	–6,169	–10,122
Investments in associates and joint ventures	–	–343
Investments in financial assets	–4,279	–3,421
Proceeds from property, plant and equipment and intangible assets	238	179
Proceeds from financial assets	8,567	7,235
Purchase of subsidiaries (net cash flow)	–38,369	–2,416
Cash flow from investing activities	–57,883	–24,470

Dividends paid	–89,509	–89,216
Purchase of treasury shares	–123	–60
Proceeds from sale of treasury shares	25	50
Proceeds from financial liabilities	124,050	126,311
Repayment of financial liabilities	–25,677	–38,550
Payment of lease liabilities	–24,855	–24,439
Purchase of non-controlling interests	–46	–155
Cash flow from financing activities	–16,136	–26,059

Effects of exchange rate changes on cash and cash equivalents	37	–
Increase in cash and cash equivalents	64,637	14,336

Cash and cash equivalents as at 1 January	59,781	90,532
Cash and cash equivalents as at 30 June	124,418	104,868

Unaudited figures