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Annual Report 2016

Consolidated Statement of Cash Flows

for the 2016 financial year (January 1 to December 31, 2016)

    2016 2015
  Note in CHF 1 000 in CHF 1 000
Net income of the Feintool Group   32 062 20 795
Depreciation and amortization 18, 19 34 646 28 521
(Gain)/loss on disposal of property, plant and equipment 7, 8 -204 -208
Increase/(decrease) in provisions and valuation allowances   1 076 -980
(Increase)/decrease in deferred taxes   3 203 3 039
Other non-cash changes   -4 623 1 339
Cash flows from operating activities before change in net working capital (NWC)   66 160 52 506
       
(Increase)/decrease in net working capital (NWC)   7 973 -12 420
Cash flows from operating activities   74 133 40 086
       
Investments in property, plant and equipment 18 -57 838 -26 067
Disposals of property, plant and equipment 18 832 842
Investments in intangible assets 19 -3 348 -1 235
Disposals of intangible assets 19 11 7
Increase in financial assets   -261 -364
Decrease in financial assets   1 214 3 196
Purchase of consolidated investments net of cash 2 -6 291
Cash flows from investing activities   -59 390 -29 912
       
Free cash flow   14 743 10 174
       
Dividends paid   -6 686 -6 673
(Purchase)/Sale of treasury shares   246
Borrowing of interest-bearing liabilities   91 166 18 884
Repayment of interest-bearing liabilities   -37 269 -31 312
Cash flows from financing activities   47 457 -19 101
       
Increase/(decrease) in cash and cash equivalents   61 201 -10 172
       
Cash and cash equivalents at the beginning of the period   31 550 41 722
Translation differences   -999 -1 245
Cash and cash equivalents at the end of the period   92 752 31 550
       
Taxes paid   -6 941 -3 265
Interest paid   -1 780 -2 000
Interest received   108 100

New finance leasing contracts were concluded for kCHF 15 519 (previous year kCHF 3 236) during the financial year.