Annual report - HSE

4.4.4 Cash flow statement
in €
Annual Report HSE 2012
4 Financial Report of the company HSE
114
Item no. Item 2012 2011
A. CASH FLOWS FROM OPERATING ACTIVITIES
a) Items of income statement 60,690,652 35,064,614
Operating revenue (except from revaluation) 1,945,621,389 1,360,553,426
and financial income from operating receivables
Operating revenue (except from revaluation and (1,880,711,950) (1,305,269,023)
amortisation/depreciation) and financial expenses for operating liabilities
Income taxes and other taxes not included (4,218,787) (20,219,789)
in operating expenses
b) Changes in net operating assets in statement (2,772,695) (5,266,260)
of financial position items
Opening less closing operating receivables (68,015,868) (31,850,038)
Opening less closing other assets 5,149,399 (944,856)
Opening less closing deferred tax assets 0 (476,948)
Opening less closing inventories 704 (853)
Closing less opening operating liabilities 65,116,108 29,640,313
Closing less opening other liabilities and provisions (5,023,038) (1,660,187)
Closing less opening deferred tax liabilities 0 26,309
c) Net cash from operating activities 57,917,957 29,798,354
B. CASH FLOWS FROM INVESTING ACTIVITIES
a) Cash receipts from investing activities 26,714,998 212,038,811
Cash receipts from interest 6,576,287 1,757,878
Cash receipts from dividends and shares in profits of associates 2,711,268 1,847,040
Cash receipts from intangible assets (including advances) 3,856,426 5,659,866
Cash receipts from property, plant and equipment (including advances) 74,967 19,027
Cash receipts from short-term loans 10,286,800 202,755,000
Cash receipts from other long-term investments 3,209,250 0
b) Cash disbursements for investing activities (214,355,682) (305,166,831)
Cash disbursements to acquire intangible assets (including advances) (8,073,222) (19,609,806)
Cash disbursements to acquire property, plant (1,315,660) (4,543,125)
and equipment (including advances)
Cash disbursements from short-term loans granted (201,786,800) (263,755,000)
Cash disbursements from investments in subsidiaries, (3,180,000) (17,258,900)
associates and jointly controlled companies
c) Net cash from investing activities (187,640,684) (93,128,020)
C. CASH FLOWS FROM FINANCING ACTIVITIES
a) Cash receipts from financing activities 190,764,740 187,350,000
Cash receipts from short-term loans received 190,764,740 187,350,000
b) Cash disbursements from financing activities (76,044,651) (145,258,629)
Interest paid on loans received (7,286,419) (3,096,673)
Cash disbursements from long-term loans received (9,108,232) (9,811,956)
Cash disbursements from short-term loans received (39,650,000) (132,350,000)
Cash disbursements from dividends and shares in profits (20,000,000) 0
c) Net cash from financing activities 114,720,089 42,091,371
D. CASH AND CASH EQUIVALENTS AT THE BEGINNING OF PERIOD 18,203,132 39,443,839
Effects of changes in exchange rates on cash and cash equivalents 0 (2,412)
Increase/(decrease) of cash and cash equivalents (15,002,638) (21,238,295)
E. CASH AND CASH EQUIVALENTS AT THE END OF PERIOD 3,200,494 18,203,132
* The accompanying notes are an integral part of the financial statements and should be read in conjunction with them.