Consolidated cash flow statement

 Explanations in the notes 



  1.1.21 –– 31.12.20
Net profit 2,552–70,274
Depreciation of fixed assets and amortisation of intangible assets6) 8)18,21382,911
Profit from sale of subsidiaries 0–1,170
Currency effect on sale of subsidiaries 0252
Net interest expense 5,8635,494
Other non-cash adjustments 1 3,9222,335
Change in provisions14)6,202–8,107
Accounting profits (losses) from sales of fixed assets17)–41,2995
Income from associates and joint ventures 557–350
Cash flow from operating activities before changes in working capital –3,99111,097
As % of net sales revenue –1.31%3.62%
Change in accounts receivables3)–12,906–15,205
Change in other receivables and accrued income3) 5)–2,335–8,337
Change in inventories4)–2,6173,899
Change in trade payables9)3,775–5,503
Change in other liabilities and deferred income11) 12)1362,723
Change in net current assets –13,946–22,422
Cash flow from operating activities –17,937–11,325
As % of net sales revenue –5.91%–3.70%
Investments in fixed assets –4,095–2,785
Divestments of fixed assets 53,30625
Investments in intangible assets –78–793
Investments in/divestment of long-term financial assets 810
Net cash flow from the purchase (-) / sale (+) of subsidiaries3)29,93932,218
Cash flow from investing activities 79,15228,665
Free cash flow 61,21517,339
As % of net sales revenue 20.17%5.66%
Change in short-term financial liabilities9)0–7,015
Change in long-term financial liabilities13)–43,000–7,169
Change in minority interests in capital and profit 61–38
Change in mandatory convertible bond 0–1,195
Interest paid –6,393–9,501
Cash flow from financing activities –49,332–24,919
Currency translation –9–210
Net change in cash and cash equivalents 11,874–7,790
Cash and cash equivalents at 1 January 12,41120,201
Cash and cash equivalents at 31 December 24,28512,411
  1. Other non-cash adjustments mainly include the utilisation of the employer contribution reserves for the pension fund (see section 7 in the Notes to the annual financial statements for 2021)