Year 2017

Cash Flow Statement of the Parent Company

 

EUR

2017

2016

Cash flow from operations

   

Profit/loss before appropriations

-46,555,639.67

-164,412,634.25

Adjustments:

   
 

Depreciation and amortization

1,122,294.14

1,085,094.86

 

Gains or losses on disposal of fixed assets

25,321.11

1,363,391.44

 

Financial income (-) and expense (+)

1,804,318.18

-9,317,845.84

 

Impairment losses on non-current investments

33,600,000.00

158,832,534.62

 

Other adjustments

-519,529.16

-574,500.77

Cash flow before change in working capital

-10,523,235.40

-13,023,959.94

       
 

Interest-free current receivables, increase (-), decrease (+)

-1,491,952.00

-6,258,705.31

 

Interest-free non-current receivables, increase (-), decrease (+)

-182,015.53

106,507.61

 

Inventories, increase (-), decrease (+)

-2,056.00

4,386.96

 

Interest-free current liabilities, increase (+), decrease (-)

-600,298.00

1,252,486.20

 

Interest-free non-current liabilities, increase (+), decrease (-)

-596,503.15

2,029,882.61

Change in working capital

-2,872,824.68

-2,865,441.93

       

Cash flow from operating activities before financial items and taxes

-13,396,060.08

-15,889,401.87

       
 

Interests paid

-5,214,118.30

-12,529,507.63

 

Interests received

5,917,872.85

9,566,978.65

 

Other financial items

-585,394.84

630,990.33

 

Income tax paid

-4,877,859.00

-15,621,385.37

Cash flow from financial items and taxes

-4,759,499.29

-17,952,924.02

       

Cash flow from operating activities (A)

-18,155,559.37

-33,842,325.89

       

Investments in tangible and intangible assets

-547,571.41

-1,163,624.27

Proceeds from sale of tangible and intangible assets

0.00

0.00

Other investments

-8,778,320.46

-2,500.00

Proceeds from sale of other investments

10,280.00

4,958,977.54

Loans granted

-18,665,836.60

-48,982,813.77

Repayments of loan receivables

17,719,914.79

22,501,839.66

Dividends received

156,161.00

192,416.00

Cash flow from investing activities (B)

-10,105,372.68

-22,495,704.84

       

Increases in current loans

64,671,662.02

0.00

Repayment of current loans

-99,881,255.73

-64,641,007.62

Increases in non-current loans

59,863,435.98

0.00

Repayment of non-current loans

0.00

-149,698,500.00

Dividends paid

-60,000,000.00

-18,000,000.00

Group contributions received and paid

28,500,000.00

111,700,000.00

Cash flow from financing activities (C)

-6,846,157.73

-120,639,507.62

       

Change in cash and cash equivalents (A+B+C)

-35,107,089.78

-176,977,538.35

Change in group cash pool

8,625,577.19

56,604,306.64

Cash and cash equivalents received in merger

0.00

0.00

Change in cash and cash equivalents

-26,481,512.59

-120,373,231.71

       

Cash and cash equivalents at the beginning of the financial period

144,240,874.52

264,614,106.23

Cash and cash equivalents at the end of the financial period

117,759,361.93

144,240,874.52