Chapters
Annual Report 2018

Consolidated Cash Flow Statement

in thousands of EUR

Notes

2018

2017

Cash flows from operating activities

Cash generated from operations

30

585,311

460,531

Tax paid

- 136,982

- 119,324

Net cash from operating activities

448,329

341,207

Cash flows from investing activities

Acquisition of subsidiaries, net of cash acquired

4

- 13,736

- 131,883

Settlement of contingent consideration

- 26,129

-

Purchase of property, plant and equipment

11

- 161,904

- 155,225

Proceeds from sales of property, plant and equipment

8,618

5,274

Purchase of intangible assets

13

- 48,290

- 42,272

Proceeds from sales of intangible assets

1,203

1,724

Investments in Associates and Joint Ventures

14

- 629

-

Proceeds from sales of investments in buildings

151

275

Other non-current receivables

- 578

3,222

Dividends received

14

-

6,090

Interest received

1,816

4,184

Net cash used in investing activities

- 239,478

- 308,611

Cash flows from financing activities

Proceeds from borrowings

23

205,939

381,347

Repayments of borrowings

23

- 233,301

- 330,306

Interest swap payments

23

- 2,752

- 2,056

Acquisition of non-controlling interest

21, 22

- 1,835

- 542

Dividends paid to non-controlling interests

22

- 16,021

- 11,452

Dividends paid to shareholders

21

- 81,147

- 78,363

Interest paid

- 10,004

- 11,360

Net cash generated used in financing activities

- 139,121

- 52,732

Increase / (decrease) in cash and cash equivalents

69,730

- 20,136

Movement in cash and cash equivalents

Cash and cash equivalents at beginning of the year

12,236

37,705

Increase / (decrease) in cash and cash equivalents

69,730

- 20,136

Exchange gains/ (losses) on cash and cash equivalents

- 10,347

- 5,333

Cash and cash equivalents at end of year

18

71,619

12,236

The accompanying notes are an integral part of these consolidated financial statements.