Consolidated statement of cash flows
| | | |
CHF million | Notes | 2017 | 2016 |
Net profit | | 118.5 | 133.8 |
Dividend income | (9) | –0.9 | –0.4 |
Interest income | (9) | –2.2 | –1.5 |
Interest expenses | (10) | 11.3 | 12.5 |
Income tax expenses | (11) | 55.3 | 60.4 |
Depreciation, amortization and impairment | (8) | 77.9 | 73.6 |
Share of profit of associated companies | (15) | –3.4 | –3.1 |
(Gain)/loss from disposal of tangible assets, net | | 0.2 | –2.8 |
(Gain)/loss from disposal of subsidiary or business | (3) | 0.1 | –33.2 |
Loss from disposal of investments in associated companies | (10) | 0.4 | – |
Other non-cash income and expenses | | –3.0 | 9.4 |
Change in net working capital | | –49.4 | 2.5 |
Change in post-employment benefit assets and liabilities | | 1.7 | 0.3 |
Change in non-current provisions | | –9.5 | 7.5 |
Change in operating receivables within other non-current assets | | 8.3 | –3.9 |
Change in operating liabilities within other non-current liabilities | | –8.8 | 2.9 |
Dividends received | | 1.7 | 0.8 |
Interest received | | 2.2 | 1.5 |
Interest paid | | –11.1 | –11.3 |
Income taxes paid | | –44.2 | –54.9 |
Cash flows from operating activities | | 145.2 | 194.1 |
Investments in tangible assets | | –173.6 | –137.5 |
Investments in intangible assets | | –4.4 | –0.9 |
Investments in non-current financial assets | | –15.5 | –2.5 |
Investments in current financial assets | | –2.0 | –1.2 |
Proceeds from disposal of tangible assets | | 0.2 | 6.2 |
Proceeds from disposal of subsidiary or business, net of cash disposed of1 | (3) | – | 43.2 |
Consideration paid for disposal of investments in associated companies | | –0.4 | – |
Cash flows used in investing activities |
| –195.7 | –92.8 |
Dividends paid to shareholders of Autoneum Holding Ltd | | –30.3 | –20.9 |
Dividends paid to non-controlling interests | | –20.7 | –29.8 |
Acquisition of non-controlling interests | | –0.4 | – |
Proceeds from capital increase | | 0.1 | 0.1 |
Purchase of treasury shares | (22) | –2.3 | –0.1 |
Proceeds from borrowings | (24) | 197.1 | 102.3 |
Repayment of borrowings | (24) | –138.2 | –80.1 |
Cash flows from/(used in) financing activities |
| 5.4 | –28.6 |
Currency translation adjustment | | –0.8 | –1.6 |
Change in cash and cash equivalents | | –45.9 | 71.1 |
Cash and cash equivalents at beginning of the year | | 149.8 | 78.7 |
Cash and cash equivalents at end of the year | (20) | 103.8 | 149.8 |
- 1 Includes the proceeds from the disposal of the production facility in Betim, Brazil as disclosed in note 3 and a deferred purchase price payment in the amount of CHF 0.4 million (2016: CHF 0.8 million) from a transaction in 2014 and 2013.
- The accompanying notes are part of the consolidated financial statements.
