Consolidated Statement of Cash Flows

  31.12.2012 31.12.2011 Increase/ (Decrease)
Cash flow from operating activities      
Profit before tax from continuing operations 161,912 198,830 (36,918)
Profit before tax from discontinued operations 12,165 (39,738) 51,094
Amortisation/depreciation 259,032 250,453 8,580
Revaluations/impairment charges 82,675 (2,044) 84,719
Movement in provisions for liabilities 21,545 50,179 (28,634)
Net movement in staff termination benefits (4,231) (12,554) 8,322
Realised gains 1,953 0 1,953
Net financial interest expense 120,554 120,574 (20)
Income taxes paid (107,528) (139,540) 32,012
Cash generated by operations before movements in working capital 548,078 426,160 121,917
Increase in current receivables (49,186) (289,129) 239,943
Increase/decrease in current liabilities (72,595) 314,398 (386,993)
Increase/(decrease) in inventories 23,895 6,322 17,573
Movement in working capital (97,886) 31,591 (129,477)
Changes in other assets/liabilities during the period 19,370 (124,780) 144,149
TOTAL CASH FLOW FROM OPERATING ACTIVITIES 469,562 332,972 136,590
Cash flow from investing activities      
Purchase/sale of property, plant and equipment (303,859) (86,311) (217,548)
Purchase/sale of intangible assets (248,362) (380,155) 131,793
Investments 4,098 (13,210) 17,308
Proceeds/payments deriving from other investments (1,825) 230,233 (232,058)
Dividends received 823 2,048 (1,225)
Interest income received 30,780 22,609 8,171
TOTAL (518,344) (224,787) (293,558)
Cash flow from financing activities      
Repayment of mortgages and long-term borrowings (213,708) (41,552) (172,155)
Provision of mortgages/other medium/long-term borrowings 100,000 0 100,000
Decrease/increase in other short-term borrowings 436,226 237,019 199,207
Interest expenses paid (123,247) (119,622) (3,626)
Dividends paid (47,813) (159,530) 111,717
TOTAL CASH FLOW 151,458 (83,685) 235,143
Cash flows for the year 102,676 24,500 78,175
Cash and cash equivalents at beginning of period 321,022 296,522 24,500
Cash and cash equivalents at end of period 423,698 321,023 102,675
Amounts in € thousand