Financial Report

2.1 Key figures

6 months (unaudited) ended at 30 June, in CHF millions

	2024	2023	Change
Net revenue	572.5	602.7	–5.0 %
EBITDA¹	109.6	100.4	+9.2 %
as % of net revenue	19.1 %	16.7 %	n/a
Operating result (EBIT)	67.5	60.5	+11.6 %
as % of net revenue (EBIT margin)	11.8 %	10.0 %	n/a
Net result	38.6	32.1	+20.2 %
as % of net revenue	6.7 %	5.3 %	n/a
ROCE (LTM)^1,3	14.4 %	15.0 %	n/a
Average capital employed¹	886.5	915.8	–3.2 %
Net cash from operating activities	86.3	95.9	–10.0 %
Net cash used in investing activities	–20.5	–34.7	–40.9 %
Free cash flow¹	65.8	61.2	+7.5 %
Net cash used in financing activities	–91.4	–70.5	+29.6 %
Net change in cash and cash equivalents¹	–25.6	–9.3	+175.3 %
Cash, cash equivalents and money market investments	99.7	90.2	+10.5 %
Capital expenditures¹	19.7	29.2	–32.5 %
Total assets	1'180.1	1'251.8	–5.7 %
Equity	380.7	370.3	+2.8 %
as % of total assets	32.3 %	29.6 %	n/a
Number of employees at 30 June	8'242	8'384	–1.7 %
Full-time equivalents at 30 June	8'094	8'234	–1.7 %

The definition of alternative performance measures and adjustments, not defined by Swiss GAAP, are provided in the Half-Year Financial Report 2024 under Alternative Performance Measures.
Adjusted
ROCE is calculated by dividing the operating result (EBIT) of the last twelve months (= LTM) by the average capital employed of the same period.

Including intercompany revenue of CHF 1.6 million in 2024 and CHF 2.9 million in 2023.

6 months (unaudited) ended at June 30th, in CHF

	2024	2023
Earnings per bearer share	2.27	1.89
Market price (high/low) per bearer share	204 / 162	251 / 171

Jul 23, 2024