Consolidated Statement of
Cash Flow

for the six months ended 30 June | in CHF thousand

Notes

2026

2025

Profit after tax

56,372

28,161

Income tax

12,611

6,229

Financial income/expense

1,609

3,061

Depreciation, amortisation, and impairment

28,612

27,218

Expense for equity-settled share-based compensation

2,024

239

Other non-cash expense/income

(175)

(41)

Change in defined benefit plans

1,046

634

Change in provisions

(2,424)

18,358

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

99,675

83,859

Change in trade receivables

(4,523)

(4,584)

Change in other assets

8,036

(2,079)

Change in trade payables

(1,162)

354

Change in contract liabilities

4,315

3,757

Change in other liabilities

(7,147)

3,578

Change in net working capital

(481)

1,026

Income tax paid

(6,303)

(3,167)

Cash flow from operating activities

92,891

81,718

Acquisition of property, plant, and equipment

(611)

(311)

Proceeds from sale of property, plant, and equipment

21

47

Development and acquisition of intangible assets

(13,410)

(15,276)

Investments in financial assets

(80)

(7)

Proceeds from divestments of financial assets

61

1,270

Interest received

104

176

Cash flow used in investing activities

(13,915)

(14,101)

Proceeds from sale of treasury shares

4

–

348

Purchase of treasury shares

4

(6,462)

–

Dividends paid

4

(80,469)

(59,985)

Repayment of financial liabilities

(14,375)

(5,100)

Repayment of lease liabilities

(1,459)

(1,459)

Interest paid

(1,196)

(1,765)

Cash flow used in financing activities

(103,961)

(67,961)

Effects of exchange rate changes on cash and cash equivalents

(26)

(74)

Net (decrease)/increase in cash and cash equivalents

(25,011)

(418)

Cash and cash equivalents at 1 January

92,664

71,485

Cash and cash equivalents at 30 June

67,653

71,067