Consolidated statement of cash flows

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2008
IFRS, unaudited

in € thousands June 30, 2008 June 30, 2007 Q2|2008 Q2|2007





Net income for the year 49,647 42,330 27,109 24,557
Income taxes 23,309 22,604 11,504 12,693
Net financial income 2,887 -4,424 1,418 -1,276
Amortization/depreciation
of non-current assets
12,491 5,280 6,717 3,472
Other non-cash income/expense 2,496 1,354 1,368 37
Operating cash flow before
changes in working capital
90,830 67,144 48,116 39,483
Changes in inventories,
receivables and other current assets
-18,031 -23,636 -12,916 -8,526
Changes in payables
and other liabilities
18,594 3,576 539 -8,698
Income taxes paid -29,643 -18,150 -11,805 -13,727
Interest paid -3,618 -828 -885 -571
Interest received 2,117 6,232 953 3,044
Net cash from operating activities 60,249 34,338 24,002 11,005
Proceeds from sale of
tangible/intangible assets
187 525 10 280
Purchase of
tangible/intangible assets
-3,812 -2,269 -1,424 -947
Proceeds from the sale
of financial assets
1,109 2,572 1,101 2,378
Purchase of financial assets -718 -1,107 -685 -858
Payment for acquisitions, net -38,819 -358,781 -463 -358,781
Net cash used in investing activities -42,053 -359,060 -1,461 -357,928
Proceeds from issue of share capital 1,116 6,140 459 718
Dividends paid -28,539 -25,302 -28,539 -25,302
Proceeds from financial liabilities 0 325,829 0 325,829
Repayments of financial liabilities -10,237 -51,987 -81 -51,897
Payments for hedging instruments -675 0 0 0
Net cash provided by/ used in
financing activities
-38,335 254,680 -28,161 249,348
Change in cash and cash equivalents
from cash relevant transactions
-20,139 -70,042 -5,620 -97,575
Adjustment from currency translation -1,745 -226 266 906
Net change in cash and
cash equivalents
-21,884 -70,268 -5,354 -96,669
Cash and cash equivalents
at the beginning of the period
81,294 184,774 64,764 211,175
Cash and cash equivalents
at the end of the period
59,410 114,506 59,410 114,506