Statement of Cash Flows
of the WACKER Group

For the Period January 1 to December 31

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Statement of Cash Flows

 

 

 

 

 

 

 

€ million

 

Notes

 

2012

 

2011

 

 

 

 

 

 

 

Net income for the year

 

 

 

106.8

 

356.1

Depreciation and impairments/appreciation of noncurrent assets

 

 

 

528.8

 

501.0

Changes in provisions

 

 

 

107.6

 

39.2

Changes in deferred taxes

 

 

 

-24.4

 

8.1

Other non-cash expenses and income

 

 

 

-81.0

 

-45.5

Result from disposal of noncurrent assets

 

 

 

-2.0

 

0.4

Result from equity accounting and joint venture dividends

 

 

 

85.2

 

9.8

Changes in inventories

 

 

 

-20.4

 

-192.1

Changes in trade receivables

 

 

 

-49.2

 

43.0

Changes in other assets

 

 

 

-4.8

 

-45.6

Changes in other liabilities

 

 

 

-129.0

 

22.2

Changes in advance payments received

 

 

 

-154.4

 

170.4

Cash flow from operating activities (gross cash flow)

 

21

 

363.2

 

867.0

Investment in intangible assets, property, plant and equipment, and investment property

 

 

 

-942.9

 

-781.1

Investment in financial assets

 

 

 

-0.3

 

-18.4

Payments for loans to joint ventures and associates accounted for using the equity method

 

 

 

-117.8

 

-34.9

Proceeds from the disposal of intangible assets, property, plant and equipment

 

 

 

7.2

 

1.3

Proceeds from the disposal of investments

 

 

 

 

1.6

Cash flow from noncurrent investment activities before securities

 

 

 

-1,053.8

 

-831.5

Acquisition of securities

 

 

 

-151.3

 

-187.5

Disposal of securities

 

 

 

234.7

 

40.0

Cash flow from investment activities

 

21

 

-970.4

 

-979.0

Dividends paid

 

 

 

-109.3

 

-159.0

Dividends paid to non-controlling interests

 

 

 

-1.4

 

-1.1

Bank loans raised

 

 

 

505.9

 

262.6

Bank loans repaid

 

 

 

-66.1

 

-54.7

Other financial liabilities incurred

 

 

 

3.7

 

-0.8

Other financial liabilities repaid

 

 

 

-6.2

 

-9.6

Cash flow from financing activities

 

21

 

326.6

 

37.4

Changes due to exchange-rate fluctuations

 

 

 

-0.7

 

3.3

Changes in cash and cash equivalents

 

11

 

-281.3

 

-71.3

At the beginning of the year

 

 

 

473.9

 

545.2

At the end of the year

 

 

 

192.6

 

473.9

 

 

 

 

 

 

 

Additional information on payment transactions included in the cash flow from operating activities

 

 

 

 

 

 

Taxes paid

 

 

 

-85.2

 

-262.0

Interest paid

 

 

 

-37

 

-24.4

Interest received

 

 

 

24.2

 

13.2

Dividends received

 

 

 

2.8

 

2.1