Statement of Cash Flows
of the WACKER Group

For the Period January 1 to December 31

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€ million

 

Notes

 

2014

 

2013

 

 

 

 

 

 

 

Net income for the year

 

 

 

195.4

 

6.3

Depreciation and impairments / write-ups of noncurrent assets

 

 

 

599.0

 

564.4

Changes in provisions

 

 

 

87.0

 

47.3

Changes in deferred taxes

 

 

 

-40.7

 

-41.0

Other non-cash expenses and income

 

 

 

-48.7

 

-43.9

Result from disposal of noncurrent assets

 

 

 

9.5

 

3.2

Result from equity accounting and joint venture dividends

 

 

 

1.1

 

39.4

Changes in inventories

 

 

 

-64.3

 

95.8

Changes in trade receivables

 

 

 

-42.1

 

-22.5

Changes in other assets

 

 

 

28.2

 

13.1

Changes in other liabilities

 

 

 

-11.4

 

2.8

Changes in advance payments received

 

 

 

-227.8

 

-200.9

Cash flow from operating activities (gross cash flow)

 

21

 

485.2

 

464.0

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

 

 

 

-525.1

 

-567.1

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

 

 

 

1.9

 

4.9

Proceeds from the disposal of investments

 

 

 

0.1

 

7.0

Cash receipts and payments for acquisitions

 

 

 

25.8

 

Cash flow from long-term investing activities before securities

 

 

 

-497.3

 

-555.2

Payments for the acquisition of securities and fixed-term deposits

 

 

 

-128.6

 

-147.1

Cash receipts from the disposal of securities and fixed-term deposits

 

 

 

120.3

 

252.8

Cash flow from investing activities

 

21

 

-505.6

 

-449.5

Dividends paid

 

 

 

-24.8

 

-29.8

Dividends paid to non-controlling interests

 

 

 

-0.9

 

-1.4

Bank loans raised

 

 

 

198.3

 

84.3

Bank loans repaid

 

 

 

-250.7

 

-124.7

Other financial liabilities raised

 

 

 

 

306.3

Other financial liabilities repaid

 

 

 

-10.5

 

-7.1

Cash flow from financing activities

 

21

 

-88.6

 

227.6

Changes due to exchange-rate fluctuations

 

 

 

3.1

 

-2.9

Changes in cash and cash equivalents

 

11

 

-105.9

 

239.2

At the beginning of the year

 

 

 

431.8

 

192.6

At the end of the year

 

 

 

325.9

 

431.8

 

 

 

 

 

 

 

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

 

 

 

 

 

 

Taxes paid

 

 

 

-188.9

 

-37.9

Interest paid

 

 

 

-52.1

 

-43.9

Interest received

 

 

 

22.1

 

13.4

Dividends received

 

 

 

4.0

 

3.5