|
|
2025 |
2024 |
|
Profit incl. minority interests |
247,523 |
238,123 |
|
Net interest expense |
26,835 |
16,665 |
|
Income taxes |
48,597 |
42,566 |
|
Result from sale of non-current assets |
-431 |
-585 |
|
Depreciation and amortisation |
156,567 |
125,730 |
|
Impairment charges |
1,062 |
2,205 |
|
Change in provisions |
-1,560 |
3,141 |
|
Income from associates and joint ventures |
183 |
580 |
|
Other non-cash adjustments |
17,928 |
-3,443 |
|
Cash flow before changes in net working capital, interest and taxes |
496,704 |
424,982 |
|
|
|
|
|
Change in inventories |
-51,143 |
6,432 |
|
Change in trade receivables |
-12,366 |
-24,049 |
|
Change in other receivables, prepayments and accrued income |
-10,386 |
1,503 |
|
Change in trade payables |
23,389 |
40,039 |
|
Change in other payables, accrued liabilities and deferred income |
19,914 |
13,755 |
|
Interest paid |
-28,820 |
-20,617 |
|
Taxes paid |
-40,283 |
-35,168 |
|
Cash flow from operating activities |
397,009 |
406,877 |
|
|
|
|
|
Investments in property, plant and equipment |
-155,922 |
-114,393 |
|
Asset-related government grants |
815 |
1,573 |
|
Proceeds from disposal of property, plant and equipment |
5,397 |
1,505 |
|
Investments in intangible assets |
-6,601 |
-9,488 |
|
Capital increase of associates and joint ventures |
-562 |
-595 |
|
Acquisition of consolidated investments/businesses |
-18,094 |
-841,944 |
|
Acquisition of minority interests |
-31,554 |
-2,933 |
|
Change in loans receivable |
490 |
-2,422 |
|
Dividend received |
442 |
404 |
|
Interest received |
2,719 |
5,359 |
|
Cash flow from investing activities |
-202,870 |
-962,934 |
|
|
|
|
|
Change in other current financial liabilities |
-6,173 |
-30,638 |
|
Change in other non-current financial liabilities |
-15,021 |
622 |
|
Proceeds from bond issuance |
– |
624,205 |
|
Dividend payments to shareholders Emmi AG |
-88,272 |
-82,922 |
|
Dividend payments to minority interests |
-2,530 |
-3,314 |
|
Cash flow from financing activities |
-111,996 |
507,953 |
|
|
|
|
|
Currency translation differences |
-9,269 |
2,650 |
|
Net change in cash and cash equivalents |
72,874 |
-45,454 |
|
|
|
|
|
Cash and cash equivalents at beginning of period |
303,661 |
349,115 |
|
Cash and cash equivalents at end of period |
376,535 |
303,661 |