| CHF millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 316.1 | 383.9 | 360.7 | 444.4 | 189.8 | 185.9 | −2.1% | |
| Depreciation & amortization | 221.0 | 228.5 | 235.9 | 237.9 | 246.1 | 245.1 | −0.4% | |
| Stock-based compensation | 12.5 | 16.0 | 13.3 | 18.9 | 10.4 | 7.8 | −25.4% | |
| Change in working capital | (26.7) | 43.9 | (94.1) | (901.9) | (2,606.1) | 76.0 | +102.9% | |
| Operating cash flow | 552.5 | 704.1 | 465.0 | (215.1) | (2,064.0) | (42.5) | +97.9% | |
| Capital expenditure | (280.9) | (275.4) | (275.9) | (241.6) | (285.1) | (270.1) | +5.2% | |
| Acquisitions | (19.1) | 5.5 | (34.3) | 7.5 | 0.0 | 6.6 | — | |
| Investing cash flow | (304.9) | (265.0) | (301.7) | (231.0) | (280.9) | (269.5) | +4.1% | |
| Dividends paid | (142.7) | (120.7) | (153.5) | (153.6) | (158.9) | (159.1) | −0.1% | |
| Share buybacks | (27.3) | (18.4) | (17.0) | (23.6) | 0.0 | (1.9) | — | |
| Debt issued / repaid | 799.3 | (439.9) | (167.1) | (333.6) | 2,971.7 | 1,892.9 | −36.3% | |
| Financing cash flow | 591.1 | (619.0) | (381.5) | (555.0) | 2,766.7 | 1,185.8 | −57.1% | |
| Free cash flow | 271.6 | 428.7 | 189.1 | (456.7) | (2,349.1) | (312.6) | +86.7% | |
| Net change in cash | 828.1 | (290.1) | (217.6) | (390.0) | 411.2 | 864.8 | +110.3% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
