Annual Report 2007
Consolidated statement of cash flows
January 1, 2007 to December 31, 2007
| € thousands | Note | 2007 | 2006 |
| [33] | |||
| Net income for the year | 88,407 | 73,176 | |
| Income taxes | 45,722 | 43,275 | |
| Net financial income | -294 | -7,339 | |
| Amortization/depreciation of non-current assets | 15,140 | 8,215 | |
| Other non-cash income/expense | 5,429 | -8,889 | |
| Operating cash flow before changes in working capital | 154,404 | 108,438 | |
| Changes in inventories, receivables and other current assets | -7,119 | -40,731 | |
| Changes in payables and other liabilities | -25,370 | 14,812 | |
| Income taxes paid | -28,299 | -28,474 | |
| Interest paid | -9,335 | -4,379 | |
| Interest received | 9,728 | 11,724 | |
| Net cash from operating activities | 94,009 | 61,390 | |
| Proceeds from sale of tangible/intangible assets |
1,135 | 967 | |
| Purchase of tangible/intangible asset | -10,964 | -6,090 | |
| Proceeds from the sale of financial assets | 2,945 | 198 | |
| Purchase of financial assets | -4,916 | -265 | |
| Payments for acquisitions, net | -362,321 | -597 | |
| Net cash used in investing activities | -374,121 | - 5,787 | |
| Proceeds from issue of share capital | 7,225 | 2,157 | |
| Dividends paid | -25,302 | -22,429 | |
| Proceeds from financial liabilities | 328,403 | 0 | |
| Repayments of financial liabilities | -119,295 | -3,457 | |
| Payments for hedging instruments | -11,260 | 0 | |
| Net cash provided by/used in financing activities | 179,771 | -23,729 | |
| Change in cash and cash equivalents from cash relevant transactions | -100,341 | 31,874 | |
| Adjustment from currency translation | -3,139 | -8,678 | |
| Net change in cash and cash equivalents | -103,480 | 23,196 | |
| Cash and cash equivalents at beginning of period | 184,774 | 161,578 | |
| Cash and cash equivalents at end of period | 81,294 | 184,774 |
