Consolidated Statement
of Cash Flows

||
  Download XLS (29 kB)

in TEUR

Notes

2014

2013

See Notes to the Consolidated Financial Statements. The 2013 comparison period was adjusted according to IAS 8 (see Note (1)).

The use of automated calculation systems may give rise to rounding differences.

Net result

 

−185,398

52,130

Adjustments to reconcile net result to cash flow

 

 

 

Depreciation, amortisation,
impairment and reversal of impairment

(18) (19)
(17)

1,199,526

924,006

Employee benefit obligation – non-cash

(27)

20,806

11,861

Bad debt expenses

(6)

48,645

43,989

Change in deferred taxes

(30)

−41,614

22,568

Result from investments in affiliates

(15)

1,056

−1,419

Share-based compensation

(31)

662

−378

Change in asset retirement obligation – non-cash

(22)

6,209

7,839

Provision for restructuring – non-cash

(22)

99,017

54,836

Result on sale of investments

(7)

−53

218

Result on disposal/retirement of equipment

(6)

1,041

8,538

Gain on monetary items – non cash

(7)

841

−1,062

Other

(32)

39,649

14,090

Gross cash flow

 

1,190,390

1,137,217

 

 

 

 

Accounts receivable – trade

(9)

−11,584

36,311

Receivables due from related parties

(10)

−1,274

−72

Inventories

(11)

−11,318

25,878

Prepaid expenses and other assets

(12) (14)

−105,962

1,189

Accounts payable – trade

(23)

−49,555

−28,708

Employee benefit obligation

(27)

−7,840

−7,902

Provisions and accrued liabilities

(22)

−107,214

−92,513

Other liabilities and deferred income

(23) (24)

4,151

−18,013

Payables due to related parties

(10)

1,608

−1,822

Changes in assets and liabilities

 

−288,989

−85,652

Cash flow from operating activities

 

901,401

1,051,564

 

 

 

 

Capital expenditures

(18) (19)

−757,419

−1,779,085

Acquisitions of subsidiaries, net of cash acquired

(2) (15)

−25,173

−330,932

Sale of subsidiaries, net of cash disposed

(2) (15)

−4,458

−25

Sale of property, plant, equipment, intangible assets

(18) (19)

12,136

10,772

Purchase of investments

(8) (16)

−16,132

−564,155

Sale of investments

(8) (16)

9,463

642,057

Cash flow from investing activities

 

−781,582

−2,021,368

 

 

 

 

Proceeds from issuance of long-term debt

(25)

 

1,040,274

Principal payments on long-term debt

(25)

−246,170

−932,223

Change in short-term borrowings

(21)

4,008

−10,126

Issuance of hybrid bond

(29)

 

588,248

Capital increase

(29)

996,570

0

Dividends paid

(29)

−55,963

−22,152

Settlement of derivative financial instruments

(33)

0

−65,142

Deferred consideration paid for business combinations

(2)

−1,904

−29,323

Cash flow from financing activities

 

696,542

569,555

 

 

 

 

Effect of exchange rate changes

 

−114

1,803

Monetary loss on cash and cash equivalents

 

485

−983

Change in cash and cash equivalents

 

816,731

−399,429

 

 

 

 

Cash and cash equivalents at beginning of the year

 

201,334

600,763

Cash and cash equivalents at end of the year

 

1,018,065

201,334

||