Annual Report 2017

Consolidated Cash Flow Statement

in thousands of EUR

Notes

2017

2016

Cash flows from operating activities

Cash generated from operations

34

460,531

533,577

Tax paid

- 119,324

- 103,016

Net cash from operating activities

341,207

430,561

Cash flows from investing activities

Acquisition of subsidiaries, net of cash acquired

6

- 131,883

- 12,729

Purchase of property, plant and equipment

13

- 155,225

- 139,978

Proceeds from sales of property, plant and equipment

5,274

4,765

Purchase of intangible assets

15

- 42,272

- 35,935

Proceeds from sales of intangible assets

1,724

1,801

Investments in Associates and Joint Ventures

18

-

- 336

Proceeds from sales of investments in buildings

275

490

Other non-current receivables

3,222

- 905

Dividends received

18

6,090

8,215

Interest received

4,184

5,417

Net cash used in investing activities

- 308,611

- 169,195

Cash flows from financing activities

Purchase of treasury shares

22

-

- 2,411

Proceeds from borrowings

26

381,347

505,344

Repayments of borrowings

26

- 330,306

- 578,690

Interest swap payments

26

- 2,056

- 2,993

Acquisition of non-controlling interest

25

- 542

-

Dividends paid to non-controlling interests

25

- 11,452

- 10,932

Dividends paid to shareholders

24

- 78,363

- 35,327

Interest paid

- 11,360

- 15,398

Net cash generated used in financing activities

- 52,732

- 140,407

Increase / (decrease) in cash and cash equivalents

- 20,136

120,959

Movement in cash and cash equivalents

Cash and cash equivalents at beginning of the year

37,705

- 81,806

Increase / (decrease) in cash and cash equivalents

- 20,136

120,959

Exchange gains/ (losses) on cash and cash equivalents

- 5,333

- 1,448

Cash and cash equivalents at end of year

21

12,236

37,705

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