in CHF mn | Notes | 2017 | 2018 |
Operating activities | |||
Profit before taxes | 862.1 | 892.9 | |
Depreciation and amortization expenses | 15, 16 | 172.2 | 204.0 |
Increase (+)/decrease (-) in provisions/ employee benefit obligations and assets |
- 9.6 | - 2.2 | |
Increase (-)/decrease (+) in net working capital | - 86.5 | - 161.6 | |
Non-liquidity-related other financial expenses (+)/income (-) as well as cash flow from hedging transactions | - 38.2 | 35.6 | |
Other adjustments | 25 | 5.9 | 6.9 |
Income taxes paid | - 254.0 | - 231.6 | |
Cash flow from operating activities | 651.9 | 744.0 | |
Investing activities | |||
Property, plant, and equipment: capital expenditures | 15 | - 158.5 | - 233.4 |
Property, plant, and equipment: disposals | 8.3 | 7.8 | |
Intangible assets: capital expenditures | 16 | - 4.9 | - 5.2 |
Intangible assets: disposals | 0.0 | 0.0 | |
Acquisitions less cash and cash equivalents | - 320.4 | - 471.2 | |
Disposals less cash and cash equivalents | 0.0 | 0.0 | |
Deconsolidation | 0.0 | 0.0 | |
Acquisitions (-)/disposals (+) of financial assets | - 2.7 | - 3.2 | |
Capital increase at associated companies | 0.0 | 0.0 | |
Cash flow from investing activities | - 478.2 | - 705.2 | |
Financing activities | |||
Increase in financial liabilities | 20 | 17.0 | 2,106.7 |
Repayment of financial liabilities | 20 | - 55.4 | -2,206.3 |
Repayment of a bond | 20 | 0.0 | - 150.0 |
Issue of bonds | 20 | 0.0 | 852.4 |
Issue of a convertible bond | 20 | 0.0 | 1,630.6 |
Purchase of treasury shares | - 31.4 | -2,162.2 | |
Sale of treasury shares | 26.3 | 62.3 | |
Dividend payment to shareholders of Sika AG | - 243.7 | - 281.8 | |
Repayment of nominal value | |||
Dividends related to non-controlling interests | - 2.0 | - 1.3 | |
Purchase of non-controlling interests | 0.0 | 0.0 | |
Capital increase from non-controlling interests | 0.0 | 0.0 | |
Cash flow from financing activities | - 289.2 | - 149.6 | |
Exchange differences on cash and cash equivalents | - 1.6 | - 13.1 | |
Net change in cash and cash equivalents | - 117.1 | - 123.9 | |
Cash and cash equivalents at the beginning of the year | 10 | 1,155.0 | 1,037.9 |
Cash and cash equivalents at the end of the year | 10 | 1,037.9 | 914.0 |
Cash flow from operating activities contains: | |||
Dividends from associated companies | 0.5 | 0.5 | |
Interest received | 1.8 | 2.0 | |
Interest paid | - 14.4 | - 14.9 |