Consolidated statement of cash flows
In thousands of CHF | Note | 2016 | 2015 | |
Net income | 27,336 | 17,106 | ||
Income tax | 11 | 8,754 | 4,973 | |
Depreciation and amortization | 8/9 | 11,226 | 10,230 | |
Interest expense/(income), net | 22 | 1,451 | 1,024 | |
Share-based payments | 28 | 1,107 | 439 | |
Losses on disposal of property, plant and equipment | 9 | 7 | ||
Other non-cash (income)/expense | (625) | 1,936 | ||
Change in provisions | 15 | 1,834 | 102 | |
Change in other working capital | (11,479) | 7,724 | ||
Interest received | 15 | 11 | ||
Taxes paid | (6,450) | (7,881) | ||
Net cash provided by operating activities | 33,178 | 35,672 | ||
Purchase price payment for acquisition of subsidiary | 4/25 | (2,630) | (8,190) | |
Purchases of property, plant and equipment | 8 | (16,995) | (11,371) | |
Purchases of intangible assets | 9 | (2,668) | (2,486) | |
Disposals of property, plant and equipment | 8 | 715 | 72 | |
Net cash used in investing activities | (21,579) | (21,974) | ||
Proceeds from new bank loans | 12 | 0 | 5,809 | |
Net proceeds from issue of bond (2016-2021) | 59,600 | 0 | ||
Repayment of bank loans | 12 | (11,237) | (4,270) | |
Interest paid | (635) | (745) | ||
Distribution to shareholders of COMET Holding AG | (8,512) | (8,493) | ||
Net cash used in financing activities | 39,216 | (7,699) | ||
Net increase in cash and cash equivalents | 50,816 | 5,999 | ||
Foreign currency translation differences on cash and cash equivalents | (279) | (261) | ||
Cash and cash equivalents at January 1 | 24,295 | 18,559 | ||
Net cash and cash equivalents at December 31 | 74,832 | 24,295 |