Consolidated cash flow statement

In CHF ’000

Note

2016/17 Restated
2015/16

Net profit for the period

 

8,747 184

Depreciation and impairment of property, plant and equipment

3

4,253 5,020

Amortization and impairment of intangible assets

2

643 878

Loss on disposal of property, plant and equipment and intangible assets

 

63 143

Change in provisions

7

– 4,283 4,725

Change in deferred tax

13

206 – 2,584

Change in trade receivables

 

– 4,555– 2,187

Change in inventories

 

– 5,582 1,012

Change in other receivables, prepaid expenses and deferred income

 

– 916 – 190

Change in trade payables

 

7,019 – 2,477

Change in other current payables and accrued expenses

 

3,649 1,064

Expense for share-based payments to staff

 

564 688

Exchange differences on intra-Group items

 

– 943 897
Other non-cash expenses1 691 44

Cash flow from operating activities

 

9,556 7,218

 

 

Purchase of property, plant and equipment

3

– 5,279 – 4,582

Disposal of property, plant and equipment

 

991 0

Purchase of intangible assets

2

– 275 – 242

Change in current financial assets

 

708 1,765

Change in loan receivables and non-current financial assets

 

35 – 7

Cash flow from investing activities

 

– 3,820 – 3,066

 

 

Purchase of treasury shares

17

– 1,059 – 687

Sale of treasury shares

17

47 29

Exercise of employee share options and purchase of restricted shares by staff

 

– 875 – 74

Repayment of excess share premium

 

0 – 4,133

Proceeds from borrowings

 

0 1,124

Repayment of borrowings

 

– 971 – 9,007

Amortization in connection with finance lease

 

– 197 – 182

Cash flow from financing activities

 

– 3,055 – 12,931

 

 

Effect of exchange rates on cash and cash equivalents

 

23 – 129

Change in cash and cash equivalents

 

2,704

– 8,908

 

 

Cash and cash equivalents at 1 October

 

13,770 22,679

Cash and cash equivalents at 30 September

 

16,474 13,770

 

 

Free cash flow2

 

4,993 2,394

 

 

Included in cash flow from operating activities:

 

Interest paid

 

– 1,091 – 739

Interest received

 

45 46

Income tax paid

 

– 848 – 1,807

1 Consists primarily of unrealized currency effects on loans and of the utilization of the employer contribution reserve.

2 Cash flow from operating activities less net investment in property, plant and equipment and in intangible assets.

 

Since the beginning of fiscal year 2016/17, external costs for product development are no longer capitalized. For comparability the prior-year results have been restated to match the presentation of the period under review.