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