Consolidated cash flow statement

 Explanations in the notes 




 1.1.20 –– 31.12.19
Net profit–70,274–271,378
Depreciation of fixed assets and amortisation of intangible assets6) 8)82,91151,599
Profit from sale of subsidiaries–1,170139,001
Currency effect on sale of subsidiaries252302
Net interest expense5,4946,951
Other non-cash adjustments2,3354,966
Change in provisions14)–8,10733,486
Accounting losses (profits) from sales of fixed assets5341
Income from associates and joint ventures–350–89
Cash flow from operating activities before changes in working capital11,097–34,821
As % of net sales revenue3.62%–7.62%
Change in accounts receivables3)–15,2052,333
Change in other receivables and accrued income3) 5)–8,33722,684
Change in inventories4)3,89919,401
Change in trade payables9)–5,503–17,577
Change in other liabilities and deferred income11) 12)2,723–7,450
Change in net current assets–22,42219,391
Cash flow from operating activities–11,325–15,430
As % of net sales revenue–3.70%–3.38%
Investments in fixed assets–2,785–8,449
Divestments of fixed assets25–91
Investments in intangible assets–793–186
Investments in/divestment of long-term financial assets02,909
Net cash flow from the purchase (-) / sale (+) of subsidiaries3) 27)32,21837,541
Interest and dividends received011
Cash flow from investing activities28,66531,736
Free cash flow34)17,33916,306
As % of net sales revenue5.66%3.57%
Change in short-term financial liabilities–7,0158,309
Change in long-term financial liabilities–7,169–18,709
Change in minority interests in capital and profit–38–17
Change in mandatory convertible bond 2–1,195644
Change in capital of subsidiaries 038
Sale (purchase) own shares net cash flow0235
Interest paid–9,501–17,319
Cash flow from financing activities–24,919–26,818
Currency translation–210–71
Net change in cash and cash equivalents–7,790–10,583
Cash and cash equivalents at 1 January20,20130,784
Cash and cash equivalents at 31 December12,41120,201
  1. Previous year's figures adjusted due to the change in the valuation principles for the hybrid bond (see also the notes to the annual financial statements of HOCHDORF Group  "Principles of consolidation" and note 15) / separate presentation of cash and cash equivalents and securities in 2019
  2. Cash drain due to the emissions fee to be paid