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Consolidated cash flow statement 2021

(in thousands of euro)

    

2021

   

2020

Cash flow from operating activities:

        

Operating result

   

34,308

   

23,563

Adjustments for:

        

- Depreciation and other value adjustments

   

20,817

   

18,778

- Changes in provisions

   

3,260

   

13,341

- Changes in working capital:

        

. Changes in short-term receivables

 

-7,295

   

12,504

  

. Changes in inventory

 

1,475

   

-30

  

. Changes short-term liabilities excluding credit institutions

 

18,070

   

274

  
    

12,250

   

12,748

Cash flow from company operations

   

70,635

   

68,430

Received interest

 

322

   

648

  

Received dividends

 

3,095

   

4,084

  

Tax paid on profits

 

-8,118

   

-1,999

  
    

-4,701

   

2,733

Cash flow from operating activities

   

65,934

   

71,163

         

Cash flow from investment activities

        

Investments in (in)tangible fixed assets

 

-22,197

   

-20,034

  

Disinvestments in (in)tangible fixed assets

 

1,007

   

4,351

  

Investments/disinvestments in consolidated companies

 

505

   

-2,200

  

Investments/disinvestments in non-consolidated companies

 

5,197

   

14

  

Long-term loans granted

 

-553

   

-165

  

Repayments received for long-term receivables

 

313

   

83

  

Cash flow from investment activities

   

-15,728

   

-17,951

    

50,206

   

53,212

Cash flow from financing activities

        

Income from long-term debts

 

0

   

533

  

Repayments on long-term debts

 

-1,537

   

-754

  

Dividends paid

 

-8,374

   

-6,202

  

Paid interest

 

-1,456

   

-1,353

  

Credit institutions movements

 

-463

   

2,218

  

Cash flow from financing activities

   

-11,830

   

-5,558

         

Net cash flow

   

38,376

   

47,654

Exchange rate and conversion differences

   

1,084

   

110

Funds movements

   

39,460

   

47,764

Balance of funds at beginning of year under review

   

135,357

   

87,593

Balance of funds at end of year under review

   

174,817

   

135,357

The funds balance amount attributable to third-party interests at the end of the reporting year was
 €0.6 million (2020: €1.3 million).