Consolidated cash flow statement

in CHF 000s

	First 6 months 2021	First 6 months 2020
Profit incl. minority interests	107,076	86,773
Net interest expense	3,388	4,245
Income taxes	21,159	17,151
Result from sale of fixed assets	-423	29
Depreciation and amortisation	54,532	54,051
Impairment charges	2,484	2,028
Change in provisions	729	-230
Income from associates and joint ventures	-3,073	443
Other non-cash adjustments	-10,817	6,998
Cash flow before changes in net working capital, interest and taxes	175,055	171,488

Change in inventories	-71,054	-23,042
Change in trade receivables	43,192	40,016
Change in other receivables, prepayments and accrued income	-25,447	-24,284
Change in trade payables	-11,940	-31,092
Change in other payables, accrued liabilities and deferred income	23,948	19,596
Interest paid	-2,206	-3,613
Taxes paid	-31,432	-23,071
Cash flow from operating activities	100,116	125,998

Investments in property, plant and equipment	-61,276	-58,117
Proceeds from disposal of property, plant and equipment	475	711
Purchase of securities	–	-5,905
Investments in intangible assets	-2,582	-1,692
Acquisition of consolidated companies	-662	1,556
Change of loans receivable	-2,025	-2,700
Dividend received	555	–
Interest received	238	714
Cash flow from investing activities	-65,277	-65,433

Change in other current financial liabilities	-7,122	-7,356
Change in other non-current financial liabilities	-2,992	8,868
Dividend paid to shareholders	-69,548	-64,198
Dividend paid to minority interests	-3,184	-847
Cash flow from financing activities	-82,846	-63,533

Currency translation	3,260	-6,354
Net change in cash and cash equivalents	-44,747	-9,322

Cash and cash equivalents at beginning of period	294,671	378,112
Cash and cash equivalents at end of period	249,924	368,790