Annual Report 2015

CONSOLIDATED STATEMENT OF CASH FLOWS





1 000 € Note 2015 2014
Cash flows from operating activities


Profit for the year
11 910 -11 095
Adjustments to the profit for the year 5 41 593 64 915
Change in net working capital 5 -15 093 27 231
Interest paid and other financial expenses
-17 463 -19 750
Interest received
3 372 4 051
Income tax paid
-236 -166
Net cash generated from operating activities
24 083 65 186




Cash flows from investing activities


Purchases of intangible assets and property, plant and equipment (PPE) 16,17 -19 346 -16 944
Proceeds from sales of intangible assets and PPE 16,17 637 1 165
Proceeds from sales of available-for-sale financial assets 16,17 85 5
Proceeds from sale of shares in subsidiaries 4 51 677 0
Equity refund received
3 900 0
Loan repayments 20 45 091 14 371
Loans granted 20 -60 425 -61 963
Proceeds (+) or repayments (-) of short term investments
-56 4 066
Dividends received
1 3
Net cash used in investing activities
21 564 -59 297




Cash flows from financing activities


Proceeds from issuance of ordinary shares 24 62 934 60 632
Acquisition of own shares 23 -50 789 0
Proceeds from borrowings 27,23 217 699 29 803
Repayments of borrowings 27,23 -69 735 -22 190
Repayment of finance leases 27,23 -12 046 -20 159
Proceeds (+) or repayments (-) of current liabilities 27,23 -183 408 31 611
Refund of reserve for invested non-restricted equity
0 -17 624
Dividends paid
-632 -632
Net cash used in financing activities
-35 977 61 441




Net (decrease)/increase in cash and cash equivalents
9 670 67 330




Cash and cash equivalents at beginning of year
77 340 10 010
Change in cash and cash equivalents
9 670 67 330
Cash and cash equivalents of subsidiaries sold
-9 855 0
Cash and cash equivalents at end of year, continuing operations
77 155 77 340




Cash and cash equivalents, discontinued operations
2 395 8 303




Cash and cash equivalents at end of year 21 79 550 85 643