Download center

Cash Flow Statement


EUR 2013 2012
Cash flow from operations

Result before extraordinary items -91,246,933.12 -94,396,245.69
Adjustments:


Depreciation and amortization 5,294,953.10 5,112,925.26

Gains or losses on disposal of fixed assets 13,373,908.83 -274,118.67

Financial income (-) and expense (+) 3,517,532.16 -3,564,905.43

Impairment losses on non-current investments 41,791,746.49 47,224,576.84

Gain on merger 0.00 -616,942.59

Loss on merger 0.00 19,670,423.11

Other adjustments 330,060.00 -209,486.43
Cash flow before change in working capital -26,938,732.54 -27,053,773.60





Interest-free current receivables, increase (-), decrease (+) -21,872,655.87 -2,925,728.33

Interest-free non-current receivables, increase (-), decrease (+) -400,151.97 -99,858.74

Inventories, increase (-), decrease (+) -123,083.81 119,285.54

Interest-free current liabilities, increase (+), decrease (-) 6,598,862.44 3,193,285.58

Interest-free non-current liabilities, increase (+), decrease (-) 217,756.50 0.00
Change in working capital -15,579,272.71 286,984.05




Cash flow from operating activities before financial items and taxes -42,518,005.25 -26,766,789.55





Interests paid -19,038,217.76 -16,992,245.75

Interests received 16,429,616.01 12,186,096.58

Other financial items 1,562,919.69 -124,968.89

Income tax paid -409,119.61 -13,903,955.61
Cash flow from financial items and taxes -1,454,801.67 -18,835,073.67




Cash flow from operating activities (A) -43,972,806.92 -45,601,863.22




Investments in tangible and intangible assets -5,205,415.74 -10,371,885.03
Proceeds from sale of tangible and intangible assets 3,346,073.96 24,940.00
Other investments -3,200,000.00 -39,814,110.73
Proceeds from sale of other investments 38,722,228.83 406,281.20
Loans granted -43,640,354.40 -87,358,340.27
Repayments of loan receivables 10,367,257.28 83,703,923.50
Dividends received 5,154,522.75 3,028,139.46
Other cash flow from investing activities 0.00 -815,196.05
Cash flow from investing activities (B) 5,544,312.68 -51,196,247.92




Repayment of current loans 598,865.09 326,592.48
Drawings of non-current loans 0.00 199,359.20
Repayment of non-current loans -25,000,000.00 -25,000,000.00
Dividends paid -6,800,000.00 -
Group contributions received and paid 97,000,000.00 58,600,000.00
Cash flow from financing activities (C) 65,798,865.09 34,125,951.68




Change in cash and cash equivalents before business transfers (A+B+C) 27,370,370.85 -62,672,159.46
Change in group cash pool -8,487,419.83 30,540,263.13
Cash and cash equivalents received in merger 0.00 767,867.51
Change in cash and cash equivalents 18,882,951.02 -31,364,028.82




Cash and cash equivalents at the beginning of the financial period 101,684,021.52 133,048,050.34
Cash and cash equivalents at the end of the financial period 120,566,972.54 101,684,021.52