| CHF millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 188.4 | 216.7 | 182.5 | 186.3 | 220.3 | 227.1 | +3.1% | |
| Depreciation & amortization | 108.8 | 108.8 | 111.3 | 114.7 | 125.7 | 156.6 | +24.5% | |
| Stock-based compensation | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Change in working capital | (15.7) | (60.0) | (111.2) | 58.6 | 37.7 | (30.6) | −181.2% | |
| Operating cash flow | 344.5 | 261.3 | 211.3 | 370.1 | 412.6 | 400.2 | −3.0% | |
| Capital expenditure | (126.2) | (157.4) | (204.6) | (147.1) | (114.4) | (155.9) | −36.3% | |
| Acquisitions | (199.9) | (272.7) | (21.5) | (14.7) | (841.8) | (43.4) | +94.8% | |
| Investing cash flow | (328.7) | (430.0) | (231.1) | (135.8) | (968.7) | (206.0) | +78.7% | |
| Dividends paid | (64.2) | (69.5) | (74.9) | (77.6) | (82.9) | (88.3) | −6.5% | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Debt issued / repaid | (26.0) | 196.5 | 43.1 | 8.6 | 594.2 | (21.2) | −103.6% | |
| Financing cash flow | (91.9) | 121.3 | (23.1) | (81.1) | 508.0 | (112.0) | −122.0% | |
| Free cash flow | 218.3 | 103.8 | 6.7 | 223.1 | 298.2 | 244.2 | −18.1% | |
| Net change in cash | (83.4) | (47.4) | (45.1) | 146.9 | (45.5) | 72.9 | +260.3% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
