Consolidated financial statements

Consolidated cash flow statement

in CHF thousands	Note	2024	2023
Net result		4 648	79 006
Depreciation on fixed assets	14,16	18 224	19 202
Change in provisions	20	‑ 4 861	11 331
Non-cash result from spin-off of Paper Division	34	22 326	-
Result from sale of fixed assets		‑ 8 777	‑ 18 871
Other non-cash items		1 181	‑ 330
Cash flow before change in non-financial net working capital		32 741	90 338
Change in trade receivables	11	1 181	18 722
Change in inventories	13	1 011	7 443
Change in other receivables, prepayments and accrued income		1 683	3 263
Change in trade payables	18	7 690	‑ 17 104
Change in other payables, accrued expenses and deferred income		1 377	7 200
Cash flow from operating activities		45 683	109 862
Acquisition of subsidiary	33	‑ 32 799	-
Capital expenditures for tangible fixed assets	14	‑ 21 612	‑ 33 772
Capital expenditures for intangible assets	16	‑ 1 385	‑ 874
Disposal of tangible fixed assets	14	1 970	19 063
Disposal of intangible assets	16	7 083	-
Purchase of minorities	32	-	‑ 2 416
Cash flow from investing activities		‑ 46 743	‑ 17 999
Change in current financial liabilities	17	10 230	656
Issuance of non-current financial liabilities	17	7 907	-
Repayment of bond	17	-	‑ 98 730
Purchase of treasury shares	23	‑ 502	‑ 588
Sale of treasury shares	23	11	-
Distribution to shareholders		‑ 24 000	‑ 27 000
Spin-off of Paper Division	34	‑ 69 166	-
Cash flow from financing activities		‑ 75 520	‑ 125 662
Currency translation on cash and cash equivalents		542	‑ 2 175
Net change in cash and cash equivalents		‑ 76 038	‑ 35 974
Cash and cash equivalents as at 1 January	10	107 640	143 614
Cash and cash equivalents as at 31 December	10	31 602	107 640

The consolidated cash flow statement above contains the financial values indicated not only for the remaining Chemistry and Packaging Divisions but also for the spun-off Paper Division up until its spin-off on 25 June 2024. See also Note 34, Spin-off of the Paper Division.

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