Consolidated Statement of Cash Flow

for the year ended 31 December | in CHF thousand

Notes

2025

2024

Profit after tax

68,027

61,422

Income tax

6.1

16,334

7,195

Financial income/expense

4.5

4,955

2,419

Depreciation, amortisation, and impairment

3.4, 3.5, 3.6

55,567

59,220

Expense for equity-settled share-based compensation

2,707

836

Other non-cash expense/income

(143)

(376)

Change in defined benefit plans

2.3

7,085

(313)

Change in provisions

3.8

(5,443)

4,273

Cash flow before changes in net working capital and income tax paid

149,089

134,676

Change in trade receivables

3.1

(1,199)

(2,450)

Change in other assets

3.2

(9,306)

(1,253)

Change in trade payables

222

(2,031)

Change in contract liabilities

1

(207)

203

Change in other liabilities

3.3

10,077

171

Change in net working capital

(413)

(5,360)

Income tax paid

6.1

(8,178)

(4,139)

Cash flow from operating activities

140,498

125,177

Acquisition of property, plant, and equipment

3.4

(871)

(1,904)

Proceeds from sale of property, plant, and equipment

–

318

Development and acquisition of intangible assets

3.6

(32,999)

(30,155)

Investments in financial assets

4.2

(32)

(106)

Proceeds from divestments of financial assets

4.2

2,931

64

Interest received

4.5

230

349

Acquisition of subsidiaries, net of cash and cash equivalents acquired

–

(32,747)

Cash flow used in investing activities

(30,741)

(64,181)

Proceeds from the issuance of shares

4.1

294

1,382

Issuance stamp tax paid on contribution in kind

4.1

(261)

–

Proceeds from sale of treasury shares

4.1

348

1,690

Purchase of treasury shares

4.1

(1,853)

(559)

Dividends paid

4.1

(59,985)

(229,942)

Proceeds from financial liabilities

–

230,000

Financing arrangement costs

–

(1,874)

Repayment of financial liabilities

4.3

(21,025)

(67,295)

Repayment of lease liabilities

3.5

(2,887)

(3,463)

Interest paid

4.5

(3,065)

(1,632)

Cash flow used in financing activities

(88,434)

(71,693)

Effects of exchange rate changes on cash and cash equivalents

(144)

27

Net (decrease)/increase in cash and cash equivalents

21,179

(10,670)

Cash and cash equivalents at 1 January

71,485

82,155

Cash and cash equivalents at 31 December

92,664

71,485