Annual report 2019

Consolidated Statement of Cash Flows

for the 2019 financial year (January 1 to December 31, 2019)

2019

2018

Note

in CHF 1 000

in CHF 1 000

Net income of the Feintool Group

10 651

30 478

Depreciation and amortization

17, 18

48 801

42 199

(Gain)/loss on disposal of property, plant and equipment

6, 7

159

-472

Increase/(decrease) in provisions and valuation allowances

615

4 469

Other non-cash changes 1)

3 363

1 797

Income taxes

10

4 545

13 524

Cash flows from operating activities before change in net working capital (NWC)

68 134

91 995

Increase/decrease in:

Accounts receivables

13

14 781

10 164

Inventories and net contract assets

14, 15

2 494

-18 790

Prepaid and accrued expenses and income

16, 22

-5 190

-7 694

Accounts payables

21

12 319

-2 066

Other net working capital (NWC)

5 995

5 679

Income taxes paid

-16 532

-12 308

Cash flows from operating activities

82 001

66 980

Investments in property, plant and equipment

17

-50 438

-81 352

Disposals of property, plant and equipment

17

1 224

2 705

Investments in intangible assets

18

-2 851

-3 030

Disposals of intangible assets

18

4

86

Increase in financial assets

-563

Decrease in financial assets

872

139

Purchase of consolidated investments net of cash

2

-39 566

Cash flows from investing activities

-51 752

-121 018

Free cash flow 2)

30 249

-54 038

1) Other non-cash changes during the reporting period primarily encompass expenses from the revaluation of the net liability from defined benefit pension plans.

2) Includes the cash flows from operating activities and the cash flows from investing activities

2019

2018

Note

in CHF 1 000

in CHF 1 000

Capital increase

50 835

Transaction costs for capital increase

-838

Dividends paid

-9 805

-8 924

Purchase of treasury shares

-276

-2 062

Borrowing of interest-bearing liabilities

13 644

74 800

Repayment of financial lease liabilities

-14 674

-23 627

Repayment of interest-bearing liabilities

-2 444

-53 941

Cash flows from financing activities

-13 555

36 243

Translation differences Cash and cash equivalents

-4 090

-3 718

Increase/(decrease) in cash and cash equivalents

12 604

-21 513

Cash and cash equivalents at the beginning of the period

30 872

52 384

Cash and cash equivalents at the end of the period

43 476

30 872

Interest paid

-2 906

-3 133

Interest received

139

52

Lease payments are classified as follows on the statement of cash flows:

– Cash payments for the amortization portion are recognized as financing activities.

– Cash payments for the interest portion are recognized in cash flow from operating activities.

– Cash payments for non-capitalized leases are recognized in cash flow from operating activities.

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