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Consolidated cash flow statement

April 1 to March 31, in CHF million

 

Notes

 

2021/22

 

2020/21

Income before taxes

 

 

 

 

 

728.2

 

 

 

600.4

Depreciation, amortization and impairment of tangible and intangible assets and right-of-use assets

 

3.3,3.4,3.5

 

211.1

 

 

 

222.7

 

 

Loss on sale of tangible and intangible assets, net

 

 

 

0.3

 

 

 

3.2

 

 

Share of (profit)/loss in associates/joint ventures, net

 

6.2

 

(3.0)

 

 

 

(1.9)

 

 

Decrease in long-term provisions and long-term contract liabilities

 

 

 

(3.2)

 

 

 

(9.2)

 

 

Financial (income)/expense, net

 

4.2

 

34.9

 

 

 

21.0

 

 

Share based payments

 

7.4

 

33.5

 

 

 

31.3

 

 

Other non-cash items

 

 

 

5.0

 

 

 

14.5

 

 

Income taxes paid

 

 

 

(46.7)

 

231.9

 

(76.3)

 

205.3

Cash flow before changes in net working capital

 

 

 

 

 

960.1

 

 

 

805.7

Increase in trade receivables

 

 

 

(36.2)

 

 

 

(45.7)

 

 

(Increase)/decrease in other receivables and prepaid expenses

 

 

 

(22.6)

 

 

 

8.1

 

 

Increase in inventories

 

 

 

(55.2)

 

 

 

(36.3)

 

 

Increase/(decrease) in trade payables

 

 

 

74.5

 

 

 

(3.2)

 

 

Increase in other payables, accruals, short-term provisions and short-term contract liabilities

 

 

 

20.7

 

(18.9)

 

35.8

 

(41.3)

Cash flow from operating activities

 

 

 

 

 

941.1

 

 

 

764.4

Purchase of tangible and intangible assets

 

3.3,3.5

 

(106.6)

 

 

 

(89.2)

 

 

Proceeds from sale of tangible and intangible assets

 

 

 

1.9

 

 

 

2.4

 

 

Cash consideration for acquisitions, net of cash acquired

 

6.1

 

(594.1)

 

 

 

(29.3)

 

 

Cash consideration for associates

 

6.2

 

(2.1)

 

 

 

(1.2)

 

 

Changes in other financial assets

 

 

 

(6.2)

 

 

 

(6.2)

 

 

Interest received

 

 

 

1.1

 

 

 

1.8

 

 

Cash flow from investing activities

 

 

 

 

 

(705.9)

 

 

 

(121.8)

Proceeds from borrowings

 

4.5

 

 

 

 

 

1,002.5

 

 

Repayment of borrowings

 

4.5

 

(360.0)

 

 

 

(230.0)

 

 

Repayment of lease liabilities

 

3.4

 

(64.0)

 

 

 

(66.7)

 

 

Share buyback program

 

4.6

 

(678.1)

 

 

 

(25.1)

 

 

Sale of treasury shares

 

4.6

 

26.3

 

 

 

16.8

 

 

Purchase of treasury shares

 

4.6

 

(79.8)

 

 

 

(9.7)

 

 

Dividends paid by Sonova Holding AG

 

 

 

(201.6)

 

 

 

(0.2)

 

 

Dividends to non-controlling interests

 

 

 

(15.4)

 

 

 

 

 

 

Interest paid

 

 

 

(19.7)

 

 

 

(11.5)

 

 

Cash flow from financing activities

 

 

 

 

 

(1,392.4)

 

 

 

676.1

Exchange (losses)/gains on cash and cash equivalents

 

 

 

 

 

(4.5)

 

 

 

3.3

(Decrease)/Increase in cash and cash equivalents

 

 

 

 

 

(1,161.7)

 

 

 

1,322.0

Cash and cash equivalents at the beginning of the financial year

 

 

 

 

 

1,772.2

 

 

 

450.2

Cash and cash equivalents at the end of the financial year

 

 

 

 

 

610.5

 

 

 

1,772.2

The Notes are an integral part of the consolidated financial statements.