| CHF million | Note | 2021 | 2020 |
|---|---|---|---|
| Cash flow from operating activities | |||
| Earnings for the year | 2,155 | 789 | |
| Adjustments to reconcile earnings for the year to net cash flows: | |||
| Income tax | 24 | 790 | 270 |
| Financial income | 23 | –14 | –9 |
| Financial expenses | 23 | 20 | 22 |
| Result from joint ventures and associates | –5 | –2 | |
| Depreciation of property, plant and equipment | 26 | 192 | 185 |
| Depreciation of right-of-use assets | 26/27 | 485 | 506 |
| Amortisation of other intangibles | 28 | 56 | 40 |
| Impairment of assets | 28/40/47 | – | 119 |
| Expenses for share-based compensation plans | 34 | 16 | 13 |
| (Gain)/loss on disposal of property, plant and equipment, net | 22 | –1 | –25 |
| Net addition to provisions for pension plans and severance payments | 33 | –6 | –4 |
| Subtotal operational cash flow | 3,688 | 1,904 | |
| (Increase)/decrease contract assets | –452 | –63 | |
| (Increase)/decrease trade and other receivables, prepayments | –2,701 | –74 | |
| Increase/(decrease) provisions | –8 | 27 | |
| Increase/(decrease) other liabilities | 33/24 | 336 | –123 |
| Increase/(decrease) trade payables, contract liabilities and accrued trade expenses | 24 | 2,085 | 353 |
| Income taxes paid | –486 | –306 | |
| Total cash flow from operating activities | 2,462 | 1,718 | |
| Cash flow from investing activities | |||
| Capital expenditure | |||
| — Property, plant and equipment | 26 | –197 | –177 |
| — Other intangibles | 28 | –7 | –9 |
| Disposal of property, plant and equipment | 22 | 430 | |
| Acquisition of subsidiaries, net of cash acquired | 40 | –898 | –35 |
| Settlement of deferred/contingent considerations from business combinations | –4 | –53 | |
| Capital (contributions to)/distributions from joint ventures and associates | –4 | –3 | |
| Dividend received from joint ventures and associates | 4 | 2 | |
| Interest received | 4 | 3 | |
| Total cash flow from investing activities | –1,080 | 158 | |
| Cash flow from financing activities | |||
| Proceeds from sale of interest without loss of control | 40 | 372 | – |
| Repayment of other interest-bearing liabilities | –61 | –1 | |
| Repayment of lease liabilities | 27 | –493 | –497 |
| Interest paid on borrowings and other interest-bearing liabilities | –10 | –8 | |
| Interest paid on lease liabilities | 27 | –10 | –14 |
| Purchase of treasury shares | 32 | –59 | –37 |
| Dividend paid to equity holders of parent company | 32 | –538 | –478 |
| Dividend paid to non-controlling interests | –1 | –1 | |
| Total cash flow from financing activities | –800 | –1,036 | |
| Foreign exchange difference on cash and cash equivalents | 5 | –31 | |
| Increase/(decrease) in cash and cash equivalents | 587 | 809 | |
| Cash and cash equivalents at the beginning of the year, net | 31 | 1,713 | 904 |
| Cash and cash equivalents at the end of the year, net | 31 | 2,300 | 1,713 |