Consolidated statement of cash flows

In thousands of CHF

Note

2017

2016

Net income

35,460

27,336

Income tax

10

14,551

8,754

Depreciation and amortization

7/8

12,465

11,226

Net interest expense

21

1,310

1,451

Share-based payments

27

916

1,107

Losses on disposal of property, plant and equipment

59

9

Other non-cash expense/(income)

2,537

(625)

Change in provisions

14

2,211

1,834

Change in other working capital

(12,346)

(11,479)

Interest received

14

15

Taxes paid

(18,823)

(6,450)

Net cash provided by operating activities

38,353

33,178

Purchase price payment for acquisition of subsidiary

0

(2,630)

Purchases of property, plant and equipment

7

(37,554)

(16,995)

Purchases of intangible assets

8

(3,953)

(2,668)

Disposals of property, plant and equipment

7

1,285

715

Net cash used in investing activities

(40,221)

(21,579)

Net proceeds from issue of bond (2016-2021)

0

59,600

Repayment of bank borrowings

11

(2,656)

(11,237)

Interest paid

(1,247)

(635)

Distribution to shareholders of Comet Holding AG

(9,295)

(8,512)

Net cash used in financing activities

(13,197)

39,216

Net (decrease)/increase in cash and cash equivalents

(15,065)

50,816

Foreign currency translation differences on cash and cash equivalents

652

(279)

Cash and cash equivalents at January 1

74,832

24,295

Net cash and cash equivalents at December 31

60,420

74,832