Consolidated Statement of Cash Flows

For the period ended 31 December
in CHF 1,000	Note	2019	2018

Profit for the period		125,004	78,156

Adjustments for:
Depreciation and amortization	15, 16, 22	51,265	17,015
Total finance result, net	9	–35,341	4,205
Tax expense		29,346	30,454
Other non-cash items		24,899	2,153
Change in trade receivables		–234,620	–84,352
Change in other receivables, prepayments and contract assets		–116,590	–46,137
Change in trade and other payables		–2,635	63,879
Change in accrued expenses and contract liabilities		404,115	57,066
Foreign exchange impact on changes in working capital		3,033	–5,057
Income taxes paid		–32,199	–18,310

Net cash generated from/(used in) operating activities		216,277	99,071
Purchases of tangible and intangible assets		–20,687	–12,707
Proceeds from sale of tangible and intangible assets		109	147
Purchases of financial assets		–7,196	–13,000
Loans granted		–1,818	–7,058
Loan repayments received		1,550	4,483
Interest received		4,389	1,668
Acquisition of businesses (net of cash)	3	49,958	25
Acquisition of investment in joint ventures	17	–7,478	–

Net cash from/(used) in investing activities		18,827	–26,442
Proceeds from financial liabilities	20	1,670,956	171,405
Repayments of financial liabilities	20	–1,704,803	–171,632
Payment from shareholders	26	15,986	–
Payment of contingent consideration liabilities	20	–7,366	–3,706
Purchase of treasury shares		–2,618	–10,219
Interest paid		–8,865	–3,635
Dividends paid to owners of the parent	25	–25,300	–13,600
Acquisition of non-controlling interests	20, 30	–7,967	–

Net cash from/(used in) financing activities		–69,977	–31,387

Net (decrease)/increase in cash and cash equivalents		165,127	41,244
Cash and cash equivalents at beginning of period		154,142	114,952
Net foreign exchange difference on cash and cash equivalents		–5,779	–2,054

Cash and cash equivalents at end of period		313,490	154,142