Statement of Cash Flows
of the WACKER Group

For the Period January 1 to December 31

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€ million

  

Notes

  

2013

  

2012*

 

  

 

  

 

  

 

*

Adjusted for the effects of the adoption of IAS 19 (revised); see Changes in Accounting and Valuation Methods in the Notes section.

Net income for the year

  

 

  

6.3

  

114.7

Depreciation and impairments/write-ups of noncurrent assets

  

 

  

564.4

  

528.8

Changes in provisions

  

 

  

47.3

  

98.7

Changes in deferred taxes

  

 

  

-41.0

  

-21.6

Other non-cash expenses and income

  

 

  

-43.9

  

-81.0

Result from disposal of noncurrent assets

  

 

  

3.2

  

-2.0

Result from equity accounting and joint venture dividends

  

 

  

39.4

  

85.2

Changes in inventories

  

 

  

95.8

  

-20.4

Changes in trade receivables

  

 

  

-22.5

  

-49.2

Changes in other assets

  

 

  

13.1

  

-6.6

Changes in other liabilities

  

 

  

2.8

  

-129.0

Changes in advance payments received

  

 

  

-200.9

  

-154.4

Cash flow from operating activities (gross cash flow)

  

21

  

464.0

  

363.2

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

  

 

  

-567.1

  

-942.9

Investment in financial assets

  

 

  

–

  

-0.3

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

  

 

  

–

  

-117.8

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

  

 

  

4.9

  

7.2

Proceeds from the disposal of investments

  

 

  

7.0

  

–

Cash flow from long-term investing activities before securities

  

 

  

-555.2

  

-1,053.8

Acquisition of securities

  

 

  

-147.1

  

-151.3

Disposal of securities

  

 

  

252.8

  

234.7

Cash flow from investing activities

  

21

  

-449.5

  

-970.4

Dividends paid

  

 

  

-29.8

  

-109.3

Dividends paid to non-controlling interests

  

 

  

-1.4

  

-1.4

Bank loans raised

  

 

  

84.3

  

505.9

Bank loans repaid

  

 

  

-124.7

  

-66.1

Other financial liabilities raised

  

 

  

306.3

  

3.7

Other financial liabilities repaid

  

 

  

-7.1

  

-6.2

Cash flow from financing activities

  

21

  

227.6

  

326.6

Changes due to exchange-rate fluctuations

  

 

  

-2.9

  

-0.7

Changes in cash and cash equivalents

  

11

  

239.2

  

-281.3

At the beginning of the year

  

 

  

192.6

  

473.9

At the end of the year

  

 

  

431.8

  

192.6

 

  

 

  

 

  

 

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

  

 

  

 

  

 

Taxes paid

  

 

  

-37.9

  

-85.2

Interest paid

  

 

  

-43.9

  

-37.0

Interest received

  

 

  

13.4

  

24.2

Dividends received

  

 

  

3.5

  

2.8