| CHF millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 799.0 | 373.0 | 116.0 | 168.0 | 280.0 | (75.0) | −126.8% | |
| Depreciation & amortization | 269.0 | 267.0 | 276.0 | 236.0 | 247.0 | 252.0 | +2.0% | |
| Stock-based compensation | (11.0) | 12.0 | 8.0 | 5.0 | 0.0 | 0.0 | — | |
| Change in working capital | (57.0) | (305.0) | (143.0) | (2.0) | (128.0) | (96.0) | +25.0% | |
| Operating cash flow | 369.0 | 363.0 | 502.0 | 421.0 | 418.0 | 379.0 | −9.3% | |
| Capital expenditure | (299.0) | (360.0) | (212.0) | (207.0) | (209.0) | (145.0) | +30.6% | |
| Acquisitions | 1,314.0 | (89.0) | 67.0 | 7.0 | (729.0) | 37.0 | +105.1% | |
| Investing cash flow | 1,083.0 | (143.0) | 140.0 | 45.0 | (805.0) | (309.0) | +61.6% | |
| Dividends paid | (989.0) | (230.0) | (132.0) | (138.0) | (139.0) | (138.0) | +0.7% | |
| Share buybacks | (1.0) | (16.0) | (8.0) | (8.0) | (14.0) | 0.0 | +100.0% | |
| Debt issued / repaid | (239.0) | (221.0) | (451.0) | (163.0) | 608.0 | 187.0 | −69.2% | |
| Financing cash flow | (1,326.0) | (538.0) | (652.0) | (356.0) | 277.0 | (28.0) | −110.1% | |
| Free cash flow | 70.0 | 3.0 | 290.0 | 214.0 | 209.0 | 234.0 | +12.0% | |
| Net change in cash | 99.0 | (322.0) | (21.0) | 94.0 | (100.0) | 23.0 | +123.0% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
