Statement of Cash Flows
of the WACKER Group

For the Period January 1 to December 31

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€ million

 

Notes

 

2015

 

2014

 

 

 

 

 

 

 

Net income for the year

 

 

 

241.8

 

195.4

Depreciation and impairments /write-ups of fixed assets

 

 

 

575.4

 

599.0

Result from disposal of fixed assets

 

 

 

-0.2

 

9.5

Other non-cash expenses and income

 

 

 

-39.1

 

-55.4

Result from equity accounting and joint venture dividends

 

 

 

-3.3

 

-2.9

Net interest result

 

 

 

24.5

 

37.8

Interest paid

 

 

 

-30.4

 

-45.5

Interest received

 

 

 

15.1

 

22.1

Income tax expense

 

 

 

164.9

 

169.8

Taxes paid

 

 

 

-218.7

 

-188.9

Dividends received

 

 

 

4.3

 

4.0

Changes in inventories

 

 

 

-40.3

 

-64.3

Changes in trade receivables

 

 

 

16.9

 

-42.1

Changes in non-financial assets

 

 

 

8.1

 

6.2

Changes in financial assets

 

 

 

49.7

 

7.5

Changes in provisions

 

 

 

84.7

 

70.8

Changes in non-financial liabilities

 

 

 

10.3

 

17.9

Changes in financial liabilities

 

 

 

-8.2

 

-27.9

Changes in advance payments received

 

 

 

-238.3

 

-227.8

Cash flow from operating activities (gross cash flow)

 

21

 

617.2

 

485.2

 

 

 

 

 

 

 

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

 

 

 

-820.7

 

-525.1

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

 

 

 

5.1

 

1.9

Proceeds from the disposal of investments

 

 

 

–

 

0.1

Cash receipts and payments for acquisitions

 

 

 

–

 

25.8

Cash flow from long-term investing activities before securities

 

 

 

-815.6

 

-497.3

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

 

 

 

342.3

 

120.3

Payments for the acquisition of securities and fixed-term deposits

 

 

 

-218.1

 

-128.6

Cash flow from investing activities

 

21

 

-691.4

 

-505.6

 

 

 

 

 

 

 

Dividends paid

 

 

 

-74.5

 

-24.8

Dividends paid to non-controlling interests

 

 

 

-1.4

 

-0.9

Cash receipts from the change in ownership interests in Siltronic AG

 

 

 

361.9

 

–

Bank loans raised

 

 

 

99.8

 

198.3

Bank loans repaid

 

 

 

-319.5

 

-250.7

Other financial liabilities repaid

 

 

 

-8.4

 

-10.5

Cash flow from financing activities

 

21

 

57.9

 

-88.6

Changes due to exchange-rate fluctuations

 

 

 

0.9

 

3.1

Changes in cash and cash equivalents

 

11

 

-15.4

 

-105.9

At the beginning of the year

 

 

 

325.9

 

431.8

At the end of the year

 

 

 

310.5

 

325.9