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Free cash flow

The free cash flow shows Galenica's capacity to pay dividends and repay debt and repay equity. It provides information on the remaining cash and cash equivalents from the operating cash flow, reduced by all lease payments and after consideration of investment activities.

Free cash flow

in thousand CHF

1.1.–30.6.2022

1.1.–30.6.2021

Cash flow from operating activities before working capital changes

134,758

138,697

Payment of lease liabilities

–26,205

–24,855

Cash flow from operating activities before working capital changes adjusted

108,553

113,842

Working capital changes

–95,540

–78

Cash flow from operating activities adjusted

13,014

113,764

Cash flow from investing activities without M&A 1)

–39,204

–19,514

Free cash flow before M&A

–26,191

94,250

Cash flow from M&A 2)

–8,467

–38,369

Free cash flow

–34,658

55,881

1) Cash flow from investing activities without net cash flow from business combinations

2) Net cash flow from business combinations

CAPEX

in thousand CHF

1.1.–30.6.2022

1.1.–30.6.2021

Investments in property, plant and equipment

18,652

18,924

Investments in intangible assets

12,198

5,824

CAPEX

30,849

24,748

Cash conversion

 

1.1.–30.6.2022

1.1.–30.6.2021

Cash conversion 1)

75.1%

80.2%

1) Calculated as EBITDA adjusted less CAPEX divided by EBITDA adjusted

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