CONSOLIDATED CASH FLOW STATEMENT € | 2016 | 2015 |
---|---|---|
Operations | ||
Result | 8 377 984,92 | 20 103 144,10 |
Adjustments to operating result (1) | 20 486 785,03 | 11 501 776,14 |
Change in working capital (2) | 648 004,47 | -4 098 726,06 |
Dividends received | 181 072,00 | 235 559,00 |
Interest received | 462 378,12 | 497 738,19 |
Interest paid | -2 561 591,53 | -2 585 682,42 |
Other financial income and expenses | -2 804 082,91 | -2 505 601,77 |
Taxes | -313 249,06 | -51 724,15 |
CASH FLOW FROM OPERATIONS | 24 477 301,04 | 23 096 483,03 |
INVESTMENTS | ||
Acquisition of shares | -1 625 000,00 | -4 380 830,42 |
Investments in intangible and tangible assets | -61 851 205,35 | -111 978 628,12 |
Proceeds from sales of non-current assets | 8 887 343,64 | 4 306 944,15 |
Increase (-) or decrease (+) in loan receivables | 0,00 | -1 133 732,00 |
CASH FLOW FROM INVESTMENTS | -54 588 861,71 | -113 186 246,39 |
FINANCING | ||
Share issue | 40 784 846,82 | 17 026 923,42 |
Withdrawals of long-term loans | 35 446 929,88 | 106 931 798,36 |
Repayment of long-term loans | -15 469 130,44 | -29 075 754,19 |
CASH FLOW FROM FINANCING | 60 762 646,26 | 94 882 967,59 |
CHANGE IN CASH AND CASH EQUIVALENTS | 30 651 085,59 | 4 793 204,23 |
Liquid assets 1 January | 40 591 936,27 | 35 798 732,25 |
LIQUID ASSETS 31 DECEMBER | 71 243 021,65 | 40 591 936,27 |
ADJUSTMENTS TO OPERATING RESULT (1) | ||
Interest in partnership companies' result | 909 174,20 | -703 104,09 |
Depreciation and write-downs | 15 574 351,64 | 11 894 819,14 |
Gain (-) or loss (+) from divestment of non-current assets | 3 701 590,29 | 310 061,09 |
Non-cash items | 301 668,90 | 0,00 |
20 486 785,03 | 11 501 776,14 | |
CHANGE IN WORKING CAPITAL (2) | ||
Increase (-) or decrease (+) in non-interest-bearing receivables | -363 282,34 | -9 132 863,02 |
Increase (-) or decrease (+) in inventories | 622 890,04 | -1 366 623,33 |
Increase (-) or decrease (+) in non-interest-bearing liabilities | 388 396,77 | 6 400 760,29 |
648 004,47 | -4 098 726,06 |
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