AnnuAl RepoRt 2010
AnnuAl RepoRt 2010
AnnuAl RepoRt 2010
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22<br />
consolIdated statement oF cash Flows For the year ended december 31, <strong>2010</strong><br />
in CHF 1 000 <strong>2010</strong> 2009<br />
Income before tax 75 686 19 358<br />
Depreciation, amortization and provisions 13 387 12 428<br />
Gain / loss on sales of fixed assets, net (6 185) 76<br />
Interest on shareholders loan (200) –<br />
Working capital changes, net (21 517) 71 682<br />
Gain on sale of excess precious metals inventory (19 733) (684)<br />
Restructuring Costs 7 342 –<br />
Income tax paid (11 935) (28 605)<br />
Cash flows from operating activities 36 845 74 255<br />
Purchase of subsidiaries (7 264) –<br />
Purchase of fixed assets (15 171) (18 926)<br />
Proceeds from the sale of fixed assets 14 208 218<br />
Proceeds from sale of excess precious metals inventory 43 968 4 284<br />
Proceeds from the sale of long-term financial assets – 114<br />
Shareholders loans (11 180) –<br />
Proceeds from the sale of / (acquisition of) intangible assets (131) (99)<br />
Purchase of precious metals inventory (13 693) (52 581)<br />
Payment of restructuring expenses (10 366) (5 321)<br />
Cash flows from investing activities 371 (72 311)<br />
Change in short-term borrowings 8 580 (10 149)<br />
Sale of capital contribution warrants to shareholders 1 640 –<br />
Diposal of / (acquisition of) treasury shares net – 4 842<br />
Dividends paid – (98 808)<br />
Cash flows from financing activities 10 220 (104 115)<br />
Effects of exchange rate changes on cash and cash equivalents (7 407) (1 693)<br />
Change in cash and cash equivalents 40 029 (103 864)<br />
Cash and cash equivalents, at beginning of year 66 078 169 942<br />
CASH AND CASH EQUIVAlENTS, AT END oF YEAR 106 107 66 078
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