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€ k | Note | 2017 | 2016 |
Consolidated earnings after tax | 47,831 | 43,242 | |
Adjustments to take account of non-cash transactions | |||
Depreciation of property, plant and equipment and amortisation of intangible assets | 34,468 | 33,813 | |
Amortisation of financial assets | 143 | 69 | |
Pension expense | -17,202 | -10,053 | |
Cash flow | 65,240 | 67,071 | |
Appropriation of profits of at equity consolidated investments | -529 | 721 | |
Interest income/expense | -4 | 220 | |
Changes in deferred tax assets and liabilities recognised as income or expense | 2,108 | 3,209 | |
Loss/Gain on disposal of intangible assets and property, plant and equipment | -1,290 | -1,679 | |
Changes in inventories, receivables and other assets | -13,694 | 13,074 | |
Changes in payables, other provisions and other liabilities | 29,823 | 1,325 | |
Income taxes paid | -25,152 | -16,406 | |
Cash flow from operating activities | 6. | 56,502 | 67,535 |
Receipts from disposals of intangible assets | 0 | 24 | |
Receipts from disposals of property, plant and equipment | 5,519 | 3,654 | |
Receipts from disposals of other financial assets | 35,844 | 44,037 | |
Payments for investments in intangible assets | -1,825 | -1,712 | |
Payments for investments in property, plant and equipment | -41,187 | -38,919 | |
Payments for investments in other financial assets | -54,426 | -58,090 | |
Acquisitions of consolidated companies | 0 | -7,730 | |
Cash flow from investing activities | 6. | -56,075 | -58,736 |
Receipts from financial resources | 0 | 1,263 | |
Interest received | 1,902 | 1,115 | |
Dividends to owners and non-controlling shareholders | -1,887 | -984 | |
Payments for the amortisation of loans | -1,107 | -276 | |
Interest paid | -3,801 | -2,613 | |
Cash flow from financing activities | 6. | -4,893 | -1,495 |
Net change in cash and cash equivalents through payments made and received | -4,466 | 7,304 | |
Net change in cash and cash equivalents through changes in exchange rates and in the basis of consolidation | -2,522 | 115 | |
Cash and cash equivalents at the beginning of the period | 91,696 | 84,277 | |
Cash and cash equivalents at the end of the period | 84,708 | 91,696 | |
Supplementary information: | |||
Receipts from dividends included in cash flow from operating activities | 326 | 788 |