Financial Report

2.1 Key figures

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

	2022	2021	Change	Continuing operations 2022	Continuing operations 2021	Continuing operations Change
Net revenue	541.6	590.0	–8.2 %	541.6	485.0	+11.7 %
EBITDA¹	109.9	131.4	–16.4 %	109.9	120.7	–8.9 %
as % of net revenue	20.3 %	22.3 %	n/a	20.3 %	24.9 %	n/a
Operating result (EBIT)	72.5	98.9	–26.7 %	72.5	88.8	–18.4 %
as % of net revenue (EBIT margin)	13.4 %	16.8 %	n/a	13.4 %	18.3 %	n/a
Net result	57.4	74.5	–23.0 %	57.4	66.8	–14.1 %
as % of net revenue	10.6 %	12.6 %	n/a	10.6 %	13.8 %	n/a
ROCE (LTM)^1,3	18.6 %²	25.2 %	n/a	18.2 %	23.6 %	n/a
Average capital employed¹	804.9	723.3	+11.3 %	791.9	686.2	+15.4 %
Net cash from operating activities	36.0	78.6	–54.2 %
Net cash used in investing activities	–649.1	–53.3	+1'117.8 %
Free cash flow¹	–613.1	25.3	n/a
Net cash used in financing activities	485.9	–60.6	n/a
Net change in cash and cash equivalents¹	–127.2	–35.3	n/a
Cash, cash equivalents and money market investments	93.0	137.6	–32.4 %
Capital expenditures¹	47.9	54.8	–12.6 %
Total assets	1’309.6	1’181.0	+10.9 %
Equity	369.8	769.7	–52.0 %
as % of total assets	28.2 %	65.2 %	n/a
Number of employees at 30 June	8’802	7’096	+24.0 %
Full-time equivalents at 30 June	8’679	6’998	+24.0 %

The definition of alternative performance measures and adjustments, not defined by Swiss GAAP, are provided in the Half-Year Financial Report 2022 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.