Consolidated statement of cash flows

In thousands of CHF

Note

2018

2017 restated 1

Net income

12,279

35,336

Income tax

12

2,858

14,516

Depreciation, amortization and impairment

9/10/11

19,831

12,465

Net interest expense

23

860

1,310

Share-based payments

29

340

916

Losses on disposal of property, plant and equipment

172

59

Losses on disposal of intangible assets

10

Loss on disposal of businesses

21

6,595

Other non-cash expense/(income)

3,125

2,537

Change in provisions

16

2,262

2,211

Change in other working capital

(20,025)

(12,188)

Interest received

30

14

Taxes paid

(5,845)

(18,823)

Net cash provided by operating activities

22,493

38,353

Outflow from disposal of businesses

(293)

Purchases of property, plant and equipment

9

(26,020)

(37,554)

Purchases of intangible assets

10

(1,933)

(3,953)

Disposals of property, plant and equipment

9

242

1,285

Disposals of intangible assets

10

1,039

Disposals of other financial assets

35

Net cash used in investing activities

(26,930)

(40,221)

Repayment of borrowings

13

(136)

(2,656)

Interest paid

(806)

(1,247)

Distribution to shareholders of Comet Holding AG

(11,630)

(9,295)

Net cash used in financing activities

(12,572)

(13,197)

Net (decrease) in cash and cash equivalents

(17,008)

(15,065)

Foreign currency translation differences on cash and cash equivalents

(404)

652

Cash and cash equivalents at January 1

60,420

74,832

Net cash and cash equivalents at December 31

43,007

60,420

1 Restated for IFRS 15 (see note 2.1).