CONSOLIDATED STATEMENT OF CASH FLOWS

'000 EUR
NOTE
1 JAN - 31 DEC 2016
1 JAN - 31 DEC 2015
Net profit for the reporting year
  
14,748
26,810
Adjustments for:   115,789 34,293
Depreciation and amortisation 11 71,360 15,395
Foreign exchange gains 10 -1,664 -1,335
Interest for the period   26,028 2,457
Loss on investing activities 8 181 13
Income tax reconigsed in profit or loss of the period 12 -1,682 6,300
Amortisation of government grants 18 -1,402 -1,074
Result on forward contracts   -47 1,283
Other adjustments   -694 246
Changes in:
   
  
  
- trade and other receivables   3,566 -2,322
- inventories   3,537 5,931
- trade and other payables   10,915 7,554
- employee benefit obligations   -1,208 -165
- provisions   6,899 10
Cash flows from operating activities
  
130,537
61,103
Interest received   - 53
Income tax paid   -7,733 -4,428
NET CASH PROVIDED BY OPERATING ACTIVITIES
 
122,804
56,728
 
CASH FLOWS FROM INVESTING ACTIVITIES   
Disposal of property, plant and equipment   132 71
Acquisition of intangible assets and property, plant and equipment   -53,580 -26,879
Income from disposal of discontinued operations   - 3,505
Repayment of loan by other entities   729 956
Acquisition of subsidiaries, net of cash acquired 31 -9,637 -105
Interest received   83 83
Expenditures related to settlement of derivatives   - -1,522
NET CASH USED IN INVESTING ACTIVITIES
 
-62,273
-23,891
CASH FLOWS FROM FINANCING ACTIVITIES
 
 
 
Repayment of borrowings and other debt instruments   -22,272 -10,932
Transaction costs related to increase of share capital   - -3,181
Share issue   80,864 -
Dividend payments   -14,585 -
Interest paid   -27,635 -2,028
Other financing activities   92 -
NET CASH PROVIDED BY/USED IN FINANCING ACTIVITIES
 
16,464
-16,141
Increase in cash   76,995 -16,696
Cash at beginning of the period   20,720 4,332
Currency translation adjustment   11 -308
CASH AT THE END OF THE PERIOD
 
97,726
20,720
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