Geberit AG Annual Report 2005

Consolidated Financial Statements Geberit Group
Consolidated Statements of Cashflows

Note		2005	2004
		MCHF	MCHF
Cash provided by operating activities
Net income		262.5	194.4
Depreciation and amortization	7/9	89.0	147.9
Finance costs, net	23	17.2	30.0
Income tax expenses	24	89.7	81.1
Other		9.2	(1.3)
Operating cashflow before changes in net
working capital and taxes		467.6	452.1
Income taxes paid		(80.6)	(62.1)
Changes in net working capital	25	1.9	8.4
Net cash provided by operating activities		388.9	398.4

Cash used in investing activities
Acquisitions, net		69.9	(574.2)
Purchase of property, plant & equipment and intangible assets	7/9	(79.5)	(87.8)
Proceeds from sale of property, plant & equipment
and intangible assets		6.3	9.2
Other, net		2.8	2.6
Net cash used in investing activities		(0.5)	(650.2)

Cash used in financing activities
Proceeds from short-term borrowings		88.6	80.4
Repayments of short-term borrowings		(43.1)	(81.1)
Proceeds from long-term borrowings		267.4	859.9
Repayments of long-term borrowings		(481.9)	(589.6)
Interest paid		(17.2)	(23.2)
Dividends		(90.3)	(69.6)
(Purchase)/sale of treasury shares		(14.5)	(17.3)
Other, net		(1.4)	(5.4)
Net cash used in financing activities		(292.4)	154.1

Effects of exchange rates on cash		2.4	(2.0)

Net increase (decrease) in cash		98.4	(99.7)

Cash and cash equivalents at beginning of year		81.6	181.3
Cash and cash equivalents at end of year		180.0	81.6

The accompanying notes are an integral part of the consolidated financial statements.