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Cash Flow Statement

(all amounts in € thousands) 2023 2022 2021 2020 2019 2018
Cash flows from operating activities            
Profit after taxes 272,646 110,481 91,555 1,160 53,155 55,984
Adjustments before changes in working capital 297,8 242,079 183,186 302,968 232,067 215,594
Changes in working capital -53,883 -91,911 -43,978 5,474 -1,045 -1,100
Cash generated from operations 516,563 260,649 230,763 309,602 284,177 270,478
Income tax paid -66,996 -16,679 -12,172 -10,176 -9,817 -9,198
Net cash generated from operating activities (a) 449,567 243,970 218,591 299,426 274,360 261,280
Cash flows from investing activities            
Payments for intangible assets, property, plant & equipment -224,006 -241,893 -126,044 -84,296 -109,313 -118,512
Proceeds from sale of PPE, intangible assets and investment property 6,007 5,748 8,694 3,110 6,824 1,850
Proceeds from dividends 1,172 1,18 0,934 2,449 3,335 2,649
Net proceeds/(payments) from changes in investments to afliates and other investing activities -3,432 0,487 0,826 -0,126 1,401 -25,218
Net cash flows used in investing activities (b) -220,259 -235,452  -115,590 -78,863 -97,753 -139,231
Net cash flows after investing activities (a)+(b) 229,308 8,518  103,001 220,563 176,607 122,05
Cash flows from financing activities            
Acquisition of non-controlling interests - - -40,814 -21,795 -20,376 -0,063
Net payment due to change of parent company to TCI - - - - -52,219  
Payments due to share capital decreases   - -0,767 - -1,266 -42,138
Dividends paid -45,731 -38,618  -31,985 -17,615 -13,690 -8,152
Payments for shares bought back -14,918 -23,814 -3,230 -8,816 -6,855 -8,614
Other proceeds from financing activities 1,097 -0,572 1,181 0,779 3,276 2,838
Interest and other related charges paid -44,896 -35,646 -36,153 -49,917 -63,914 -61,620
Net (payments of)/proceeds from financial and lease liabilities 48,401 119,519 -121,148 2,499 -105,030 9,362
Bank term deposit -80,000 - - - - -
Net cash flows used in financing activities (c ) -136,047 20,869 -232,916 -94,865 -260,074 -108,387
Net (decrease)/increase in cash and cash equivalents (a)+(b)+(c) 93,261 30,767 -129,915 125,698 -83,467 13,662
Cash and cash equivalents at beginning of the year 105,703 79,882 206,438 90,388 171,000 154,247
Effects of exchange rate changes -4,439 -4,946 3,359 -9,648 2,855 3,091
Cash and cash equivalents at end of the year 194,525 105,703 79,882 206,438 90,388 171,000

 

*  Restated due to application of IFRIC Agenda Decision IAS 19