Consolidated statement of cash flows

In thousands of CHF

Note

2019

2018 restated 1

Net income

12,027

12,347

Income tax

11

3,336

2,905

Depreciation, amortization and impairment

9

20,035

24,195

Net interest expense

10

1,890

1,555

Share-based payments

30

301

340

Losses on disposal of property, plant and equipment

94

172

Losses on disposal of intangible assets

–

10

Loss on disposal of businesses

8

–

6,595

Other non-cash expense or (income)

1,044

3,126

Change in provisions

24

(2,563)

2,262

Change in other working capital

12,575

(19,936)

Taxes paid

(50)

(5,845)

Net cash provided by operating activities

48,688

27,727

Outflow from disposal of businesses

–

(293)

Purchases of property, plant and equipment

17

(16,419)

(26,020)

Purchases of intangible assets

19

(2,202)

(1,933)

Disposals of property, plant and equipment

17

99

242

Disposals of intangible assets

19

–

1,039

Purchase/disposals of other financial assets

(163)

35

Net cash (used in) investing activities

(18,685)

(26,930)

Proceeds from bank debt

21

5,000

–

Repayment of debt

21

(1,000)

–

Repayment of lease liabilities

18

(4,867)

(4,699)

Interest received

108

30

Interest paid

(1,901)

(1,505)

Distribution to shareholders of Comet Holding AG

33

(9,312)

(11,630)

Net cash (used in) financing activities

(11,972)

(17,805)

Net increase/(decrease) in cash and cash equivalents

18,031

(17,008)

Foreign currency translation differences on cash and cash equivalents

(784)

(404)

Net cash and cash equivalents at January 1

43,007

60,420

Net cash and cash equivalents at December 31

60,255

43,007

1 Restated for IFRS 16 (see note 2.2).