Statement of cash flows (FAS)

STATEMENT OF CASH FLOWS (FAS)
EUR 1 Jan–31 Dec 2016 1 Jan–31 Dec 2015
Cash flow from operations    
Profit before extraordinary items 6 765 595.28 12 188 087.91
Adjustments    
Depreciation and reduction of values 2 972 953.39 3 241 455.19
Financial income and expenses -18 976 716.52 -25 757 244.43
Other non-cash items -2 022 576.24 -5 219 430.13
Cash generated from operations before net working capital -11 260 744.09 -15 547 131.46
     
Change in working capital    
Change in current receivables -2 942 934.39 6 872 935.59
Change in current non-interest-bearing liabilities -7 864 888.57 -5 381 994.04
Cash generated from operations -22 068 567.05 -14 056 189.91
     
Interest expenses paid and other financial expenses -14 277 137.62 -18 847 442.74
Interest income received 11 382 172.35 11 867 216.32
Dividend received and equity refund 23 124 808.69 34 609 143.37
Income taxes paid -11 311 094.93 -2 610 485.95
Net cash flow from operations -13 149 818.56 10 962 241.09
     
Cash flow from investing activities    
Purchase of tangible and intangible assets -11 488 871.43 -3 045 911.72
Proceeds from sale of tangible and intangible assets - 22 400.00
Acquisition of Group companies and business operations -5 621 835.91 -68 306 435.29
Proceeds from sale of Group companies 58 902.81 -
Loans granted -5 284 600.11 -18 775 327.67
Proceeds from repayments of loans 8 463 082.59 14 815 353.73
Total net cash used in investing activities -13 873 322.05 -75 289 920.95
     
Cash flow from financing activities    
Dividends paid -99 361 904.85 -95 227 146.30
Proceeds from issuance of share capital 782 860.22 3 601 281.44
Proceeds from short-term borrowings 661 492 416.88 58 567 071.39
Repayments in short-term borrowings -647 547 178.36 -6 339 170.00
Change in intercompany cash pool, net 4 934 106.39 47 232 989.83
Group contributions received 38 150 000.00 34 100 000.00
Total net cash used in financing activities -41 549 699.72 41 935 026.36
     
Change in cash and cash equivalents -68 572 840.33 -22 392 653.50
     
Cash and cash equivalents at beginning of period 96 672 378.50 119 065 032.00
Cash and cash equivalents at end of period 28 099 538.17 96 672 378.50
  -68 572 840.33 -22 392 653.50