report

From 1 January to 31 December
CONSOLIDATED STATEMENT OF CASh FLOwS
CHF 1000 Note 2011 2010
Net profit/(loss) for the year (119 146) 17 771
Adjustments:
– Tax expenses 15 656 11 220
– Net financial expenses 12, 13, 14 4 803 8 644
– Depreciation and impairment 11 92 547 71 897
– Profit on disposal of assets (12) (2 987)
– Other non – cash expenses 1 104 1 330
Change in long – term provisions (7 254) 4 878
Change in inventories (62 788) 2 224
Change in net working capital (428) (6 617)
Financial income received 717 723
Financial expenses paid (5 995) (7 396)
Taxes paid (12 279) (13 609)
Cash flow from operating activities (108 075) 88 078
Investments in intangible assets 22.1 (2 799) (3 834)
Disposals of intangible assets 22.1 27 –
Investments in property, plant and equipment 20.1 (46 462) (50 823)
Disposals of property, plant and equipment 143 9 094
(Investments in)/disposals of financial assets – (260)
Net cash provided/(used) by investing activities (49 091) (45 823)
Proceeds from/(repayment of) loans 24 129 403 597
Increase/(decrease) in finance lease liabilities (2 118) (11 111)
Purchase of treasury shares 32 (1 276) (186)
Disposals of treasury shares 32 2 635 129
Proceeds from mortgages 28 50 000 –
Repayment of mortgages 28 (36 000) (25 000)
Distribution to shareholders 33 (4 182) –
Net cash provided/(used) by financing activities 138 462 (35 571)
Net increase/(decrease) in cash and cash equivalents (18 704) 6 684
Cash and cash equivalents at the beginning of the period 17 129 529 127 649
Effect of exchange rate changes (1 272) (4 804)
Net increase/(decrease) in cash and cash equivalents (18 704) 6 684
Cash and cash equivalents at the end of the period 17 109 553 129 529
The Notes on pages 10 to 57 are an integral part of these consolidated financial statements.
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