Statement of Cash Flows

56 KB

EXCEL

€ thousands	2017	2016
Earnings after income taxes	52,104	47,777
Depreciation and amortisation expense / Write-ups	71,445	72,592
Increase in non-current provisions	9,947	14,952
Gain / loss on disposal of fixed assets	– 9,150	– 208
Other non-cash income / expenses	29	4,714
Cash flow	124,375	139,827

Increase in inventories	– 15,725	– 11,834
Increase / Decrease in trade receivables and other assets	– 21,001	51,091
Increase / Decrease in current provisions	8,231	– 8,475
Increase / Decrease in advances received from customers	15,536	– 12,161
Increase / Decrease in liabilities (excluding financial liabilities)	10,535	– 22,690
Other non-cash expenses (operating)	– 1,260	– 1,260
	– 3,684	– 5,329
Cash flows from operating activities	120,691	134,498

Proceeds from disposal of intangible assets	4	90
Payments to acquire intangible assets	– 11,941	– 11,775
Proceeds from disposal of property, plant and equipment	20,224	2,956
Payments to acquire property, plant and equipment	– 88,526	– 71,606
Proceeds from disposal of non-current financial assets	218	91
Payments to acquire non-current financial assets	– 819	– 925
Proceeds from / payments for investments in Group companies that are not fully consolidated	295	– 12,044
Proceeds from commercial papers	74,820	-
Payments for commercial papers	– 29,979	– 74,944
Proceeds from term deposits (maturity of more than 3 and up to 12 months)	55,825	110,027
Payments for term deposits (maturity of more than 3 and up to 12 months)	– 28,447	– 55,824
Other non-cash expenses / income	165	-
Cash flows from investing activities	– 8,161	– 113,954

Dividends paid for prior year – Shareholders of KSB SE & Co. KGaA (Notes No. 8)	– 9,857	– 9,857
Dividends paid for prior year – Non-controlling interests (Notes No. 8)	– 2,491	– 2,798
Payments for loan against borrower’s note	– 74,500	-
Payments for / Proceeds from financial liabilities	– 19,150	3,044
Cash flows from financing activities	– 105,998	– 9,611

Changes in cash and cash equivalents	6,532	10,933
Effects of exchange rate changes on cash and cash equivalents	– 6,828	4,325
Effects of changes in consolidated Group	948	489
Cash and cash equivalents at beginning of period	288,883	273,136
Cash and cash equivalents at end of period	289,535	288,883
Cash flows from operating activities include cash flows from interest received amounting to € 6,139 thousand (previous year: € 6,357 thousand) and cash flows from income taxes totalling € – 40,193 thousand (previous year: € – 31,807 thousand). Cash flows from investing activities for the 2017 financial year include cash flows from dividends received of € 1,654 thousand (previous year: € 2,716 thousand). Cash flows from financing activities include cash flows from interest expense of € – 8,649 thousand (previous year: € – 7,619 thousand). See also Section VII. Statement of Cash Flows in the Notes to the Consolidated Financial Statements.