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Consolidated Financial Statements Parent Company's Financial statements Parent's cash flow statement
Parent's cash flow statement
| € | 1 Jan.-31 Dec. 2011 | 1 Jan.-31 Dec. 2010 |
| Cash flow from operating activities | ||
| Profit before extraordinary items | 32,867,268.65 | 191,170,255.03 |
| Adjustments: | ||
| Depreciation according to plan | 15,912,629.43 | 17,434,923.06 |
| Financial income and expenses | -13,569,860.15 | -13,813,089.93 |
| Other adjustments | -1,726,000.62 | -69,584,215.55 |
| 33,484,037.31 | 125,207,872.61 | |
| Change in working capital | ||
| Interest-free short-term trade receivables, increase/decrease (-/+) | 3,320,954.86 | -1,088,925.27 |
| Interest-free short-term debt, increase/decrease (+/-) | -571,717.25 | 11,765,141.48 |
| 2,749,237.61 | 10,676,216.21 | |
| Interests paid | -18,981,566.75 | -16,082,754.25 |
| Interests received | 35,143,055.26 | 25,698,497.53 |
| Dividends received | 105,961.20 | 21,851.99 |
| Taxes paid | -40,676,089.59 | -103,242,413.51 |
| -24,408,639.88 | -93,604,818.24 | |
| Cash flow from operating activities | 11,824,635.04 | 42,279,270.58 |
| Cash flow from investing activities | ||
| Purchases of other investments | -427,410.59 | -4,494,826.00 |
| Investments in tangible and intangible assets | -22,247,633.99 | -7,342,155.49 |
| Increase in long-term receivables | -52,827,011.44 | 0.00 |
| Decrease in long-term receivables | 0.00 | 107,916,292.15 |
| Subsidiary acquired | -5,651,403.87 | -27,381,743.56 |
| Subsidiary disposed | 3,800.00 | 1,934,425.00 |
| Associated company acquired | 0.00 | -32,669,166.40 |
| Associated company disposed | 0.00 | 6,727.52 |
| Proceeds from other investments | 0.00 | 411,370.00 |
| Proceeds from sale of tangible and intangible assets | 1,696,049.13 | 103,295,518.59 |
| Cash flow from investing activities | -79,453,610.76 | 141,676,441.81 |
| Cash flow from financing activities | ||
| Increase/decrease (+/-) in current creditors | -42,791,255.48 | 114,638,294.24 |
| Increase/decrease (+/-) in non-current creditors | -6,896,644.64 | -5,492,357.02 |
| Increase/decrease (-/+) in short-term interest-bearing receivables | -323,916,887.35 | -120,104,979.56 |
| Short-term money market investments | 199,649,938.45 | -112,971,602.17 |
| Dividends paid | -128,233,679.60 | -88,547,166.90 |
| Group contributions received and paid | 103,123,780.45 | 51,637,711.18 |
| Increase in reserve for invested non-restrictive equity | 87,637.50 | 4,208,314.54 |
| Increase in reserve for own shares | -22,863,905.23 | 0.00 |
| Others | 302,338.55 | -14,132,237.45 |
| Cash flow from financing activities | -221,538,677.35 | -170,764,023.14 |
| Change in liquid assets | -289,167,653.07 | 13,191,689.25 |
| Liquid assets at 1 January | 438,579,485.23 | 425,387,795.98 |
| Liquid assets at 31 December | 149,411,832.16 | 438,579,485.23 |