Interim condensed consolidated statement of cash flows

For the six months ended 30 June
in CHF 1,000	Note	2025	2024

Profit for the period		9,875	27,947

Adjustments for:
Depreciation and amortisation		40,195	36,285
Total finance result, net		11,732	–4,253
Income tax expense		23,224	22,192
Other non-cash items		–47,420	5,967
Change in trade receivables		–228,496	–888,522
Change in other receivables, prepayments and contract assets		–56,262	–195,968
Change in trade and other payables		371,007	714,401
Change in accrued expenses and contract liabilities		–4,452	7,980
Changes in provisions		–15,650	–6,198
Income taxes paid		–16,686	–15,124

Net cash generated from/(used in) operating activities		87,067	–295,293
Purchases of tangible and intangible assets		–30,087	–32,699
Proceeds from sale of tangible and intangible assets		–	7
Settlements of and proceeds from swap contracts		–35,043	10,114
Loan repayments received		–	28
Interest received		1,909	2,276
Acquisition of businesses (net of cash acquired)		–1,431	–5,264

Net cash from/(used) in investing activities		–64,652	–25,538
Proceeds from financial liabilities		6,278,299	4,532,014
Repayments of financial liabilities		–5,850,480	–4,252,364
Payment of contingent consideration liabilities		–	–555
Repurchase of treasury shares under share buyback		–	–16,181
Proceeds from sale of treasury shares		749	941
Interest paid		–13,679	–11,893
Dividends paid to owners of the parent	7	–45,612	–55,241

Net cash from/(used in) financing activities		369,277	196,721

Net (decrease)/increase in cash and cash equivalents		391,692	–124,110
Cash and cash equivalents at beginning of period		271,315	267,389
Net foreign exchange difference on cash and cash equivalents		–7,943	2,961

Cash and cash equivalents at end of period		655,064	146,240