Investor Presentation 2021
Free cash flow
Sustained underlying performance
Free cash flow
in CHF million
811
Free cash flow of CHF 811 million, compared to CHF 787
million in 2019. Free cash flow is 12.8% of sales compared
to 12.7% in 2019.
Average Free cash flow over the 2016-2020 strategy
period of 12.6%
Operating cash flow of CHF 1,133 million, compared to
CHF 1,136 million in 2019
Total net investments of CHF 217 million, or 3.4% of
sales, as the Group continues to invest in growth and
information systems. The net investments in 2019 were
4% of sales, or 5.1% excluding the impact of the ZIC
transaction
Net Working capital of 24.4% of sales compared to
24.0% in 2019
787
FY 2019
Givaudan
Investor presentation 2021
12.7%
As % of sales
FY 2020
12.8%
updated May 2021
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