Consolidated cash flow statement (IFRS)

EUR 1,000 Note 1 Jan–31 Dec 2014 1 Jan–31 Dec 2013
Cash flows from operating activities (including discontinued operations)


Profit before taxes 21,554 -117,521
Adjustments 35


Depreciation and impairment
44,684 45,329

Share of the profit of associates and joint ventures
-497 -562

Finance income and costs
37,900 26,669

Other adjustments
-37,609 -4,757
Cash flow before change in working capital
66,031 -50,842




Change in working capital



Increase(-)/decrease(+) in trade and other receivables
8,184 -54,459

Increase(-)/decrease(+) in inventories
-51,583 -18,589

Increase(+)/decrease(-) in current liabilities
-52,459 156,225
Cash flow from operations before financial items and taxes
-29,827 32,335





Interest paid
-23,624 -25,177
Other finance costs paid
-35,892 -18,346
Dividends received
615 361
Interest received
700 1,285
Other finance income received
34,942 16,304
Income tax paid
-1,679 1,513
Cash flow from operating activities
-54,765 8,275




Cash flows from investing activities (including discontinued operations)



Purchases of property, plant and equipment
-23,732 -26,025

Proceeds from sale of property, plant and equipment
15,279 15,814

Purchases of intangible assets
-3,655 -15,563

Proceeds from sale of intangible assets
180 569

Investments in other assets
-93,795 -92,010

Proceeds from sale of other investments
99,996 124,587

Acquired subsidiary shares less cash and cash equivalents at time of purchase
-2,760 -11,849

Disposed subsidiary shares less cash and cash equivalents at time of sale
58,600 -2,265

Purchases of shares in associates and joint ventures
393
Cash flow from investing activities
50,507 -6,742




Cash flows from financing activities (including discontinued operations)



Increase(-)/decrease(+) of long-term loan receivables
-646 -185

Rights offering
29,272

Transaction cost from rights offering
-1,984

Proceeds from short-term borrowings
199,729 490,682

Repayments of short-term borrowings
-303,631 -456,614

Proceeds from long-term borrowings
300,604 301,271

Repayments of long-term borrowings
-217,683 -291,437

Hybrid bond
69,283

Repayments of finance lease liabilities
-12,030 -14,678

Dividends paid
-143 -11,744
Cash flow from financing activities
62,771 17,296




Increase(+)/decrease(-) in cash and cash equivalents
58,513 18,829
Cash and cash equivalents at beginning of financial year
51,072 34,926
Translation difference of cash and cash equivalents
-505 -2,683
Cash and cash equivalents at the end of financial year 25 109,080 51,072

 
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