SWX:VAHN Cash Flow Statement

Financials in millions CHF. Fiscal year is January - December.

Millions CHF. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	156.26	133.88	132.49	130.89	134.18
Depreciation & Amortization	11.02	10.47	7.46	15.72	14.51
Other Amortization	2.23	1.93	9.6	-	-
Gain (Loss) on Sale of Investments	-122.69	-37.73	-118.9	-45.5	-44.02
Change in Accounts Receivable	9.36	-3.58	1.46	-4.47	-7.03
Reinsurance Recoverable	3.89	3.07	3.21	17.97	2.3
Change in Insurance Reserves / Liabilities	13.81	-57.95	-20.43	-59.91	5.87
Change in Other Net Operating Assets	0.49	-5.03	-11.04	-26.63	20.54
Other Operating Activities	126.03	47.11	-24.13	-155.69	140.85
Operating Cash Flow	273.01	94.24	81.43	72.83	148.4
Operating Cash Flow Growth	189.70%	15.73%	11.82%	-50.93%	146.36%
Capital Expenditures	-35.47	-12.32	-8.3	-6.37	-10.08
Purchase / Sale of Intangible Assets	-22.83	-18.46	-31.26	-12.76	-24.56
Investment in Securities	-2.76	-19.39	-3.35	-2.12	-36.24
Other Investing Activities	0	0	-	0	-
Investing Cash Flow	-61.05	-50.17	-43.1	-21.25	-70.27
Long-Term Debt Issued	-	5.56	-	123.16	5
Total Debt Repaid	-33.6	-5.3	-1.14	-1.59	-
Net Debt Issued (Repaid)	-33.6	0.26	-1.14	121.57	5
Issuance of Common Stock	11.28	-	-	-	-
Repurchases of Common Stock	-	-	-	-11.32	-
Common Dividends Paid	-66.99	-57.07	-59.63	-52.34	-55.37
Other Financing Activities	-2.85	-2.73	-3.04	-0.89	-0.09
Financing Cash Flow	-92.16	-59.53	-63.81	57.01	-50.46
Foreign Exchange Rate Adjustments	0.79	-0.53	0.49	0.04	-
Miscellaneous Cash Flow Adjustments	-	-	-	-0	0
Net Cash Flow	120.59	-16	-24.98	108.63	27.68
Free Cash Flow	237.54	81.92	73.13	66.46	138.32
Free Cash Flow Growth	189.97%	12.02%	10.04%	-51.95%	159.36%
Free Cash Flow Margin	14.85%	5.45%	5.17%	4.98%	9.84%
Free Cash Flow Per Share	81.61	28.30	25.26	22.76	47.32
Levered Free Cash Flow	60.55	24.86	42.98	5.57	88.57
Unlevered Free Cash Flow	62.33	26.57	44.88	6.13	88.63
Change in Working Capital	27.54	-63.5	-26.8	-73.04	21.68

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.