CONSOLIDATED CASH FLOW
STATEMENTS
66
CONSOLIDATED CASH FLOW
STATEMENTS
CONSOLIDATED CASH FLOW STATEMENT FOR 2012 AND 2011
(
€ Thousand)
Note
Financial year 2012 Financial year 2011
1.
OPERATING ACTIVITIES
Consolidated profit (loss) before tax
(391,596)
4,301
Adjustments to profit (loss):
Depreciation of tangible and intangible assets (+)
7, 8
and 9
111,351
119,887
Losses from asset impairment (net) (+/-)
6, 7, 8
and 12
204,516
7,369
Provision allowances (net) (+/-)
21
58,787
(3,564)
Profits (Losses) from the sale of tangible and intangible assets (+/-)
2,357
(33,905)
Profits (Losses) from investments valued through the equity method (+/-)
10
4,232
3,985
Financial income (-)
27.2
(3,779)
(5,720)
Financial expenses and changes in fair value of financial instruments (+)
27.6
86,567
75,471
Net exchange rate differences (Income/(Expenses))
7,470
(12)
Other non-monetary items (+/-)
22,936
(31,735)
Adjusted result
102,841
136,077
Net change in assets / liabilities:
(
Increase)/Reduction in inventories
10,409
2,605
(
Increase)/Reduction in trade and other receivables
7,128
8,031
(
Increase)/Reduction in other current assets
(14,769)
2,227
Increase/(Reduction) in trade creditors
17,836
(16,749)
Increase/(Reduction) in other current liabilities
(17,691)
13,007
Increase/(Reduction) in provisions for liabilities and charges
(121)
(3,839)
Tax on profits paid
(9,376)
(8,745)
Total net cash flow from operating activities (I)
96,257
132,614
2.
INVESTMENT ACTIVITIES
Financial income
26.2
3,779
5,692
Investments (-):
Group companies, joint ventures and associated companies
(614)
(6,032)
Tangible and intangible assets and real-estate investments
(53,039)
(67,556)
Non-current financial investments
-
(73)
(53,653)
(73,661)
Disposals (+):
Group companies, joint ventures and associated companies
-
89,929
Tangible and intangible assets and real-estate investments
2,105
80,425
Non-current financial investments
3,839
728
Other Assets
632
252
6,576
171,334
Total net cash flow from investment activities (II)
(43,298)
103,365
3.
FINANCING ACTIVITIES
Interest paid for debts (-)
(68,165)
(68,469)
Changes in (+/-):
Equity instruments
-
Reserves
(3,714)
-
Minority interests
43
(2,975)
Liability instruments:
Debts with credit institutions (+)
15,000
35,355
Debts with credit institutions ()
(43,423)
(270,412)
Other non-current liabilities (+/)
(5,637)
(5,722)
Total net cash flow from investment activities (III)
(102,182)
(315,937)
4.
GROSS INCREASE/ REDUCTION OF CASH OR EQUIVALENT ASSETS (I+II+III)
(49,223)
(79,958)
5.
Effect of changes in exchange rates on cash and equivalent assets (IV)
475
2,016
6.
Effect of changes in scope of consolidation (V)
-
-
7.
NET INCREASE/ REDUCTION OF CASH OR EQUIVALENT ASSETS (I+II+III-IV+VI)
(49,698)
(81,974)
8.
Cash or equivalent assets at beginning of the year
91,143
173,117
9.
Cash or equivalent assets at the end of the year (7+8)
41,445
91,143
Notes 1 to 33 set forth in the Consolidated Annual Report and Annexes I to III form an integral part of the Consolidated Cash Flow Statement for 2012.
The Consolidated Cash Flow Statement for 2012 is presented solely for the purposes of comparison.
