PDF, 3.2 MB - Pfleiderer AG
PDF, 3.2 MB - Pfleiderer AG
PDF, 3.2 MB - Pfleiderer AG
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<strong>Pfleiderer</strong> Consolidated Statement of Cash Flows for Fiscal Year 2004<br />
Jan. 1 – Jan. 1 –<br />
‘000 euros Dec. 31, 2004 Dec. 31, 2003<br />
Cash flow from operating activities<br />
Earnings of continued operations before minority interest<br />
Proceeds from issue of shares and repurchase<br />
22,023 8,627<br />
of own shares from consolidated companies –23,412 0<br />
Depreciation and amortization of fixed assets 37,854 37,312<br />
Proceeds from disposal of fixed assets –122 –680<br />
Change in accruals for pensions 2,188 1,021<br />
Change in current assets 22,727 28,244<br />
Change in fixed assets 3,976 15,874<br />
Change in short-term liabilities excluding financial debt 20,410 –1,292<br />
Change in long-term liabilities excluding financial debt<br />
Change in adjustment item for minority interests<br />
–11,150 –15,865<br />
(before current earnings and distribution) 11,886 –4,368<br />
Cash flow from operating activities 86,380 68,873<br />
Cash flow from investing activities<br />
Cash paid for investments in intangible assets –1,752 –2,274<br />
Cash paid for investments in property, plant and equipment –38,387 –31,744<br />
Cash paid for investments in financial assets<br />
Cash paid for acquisition of companies and<br />
–1,668 –619<br />
repurchase of own shares –20,113 0<br />
Cash received for disposal of intangible assets 1,730 1,036<br />
Cash received for disposal of property, plant and equipment 2,267 16,121<br />
Cash received for disposal of finance assets 276 136<br />
Cash received from issue of shares by consolidated companies 63,194 0<br />
Cash flow from investing activities 5,547 –17,344<br />
Cash flow from operating activities after investing activities 91,927 51,529<br />
Cash flow from financing activities<br />
Change in financial liabilities –117,315 –38,118<br />
Change in externally factored receivables –20,560 1,453<br />
Distribution to minority interests –2,555 –1,390<br />
Cash paid for the purchase of treasury stock 0 8<br />
Cash flow from financing activities –140,430 –38,047<br />
Change in cash and cash equivalents<br />
Change in cash and cash equivalents due to<br />
–48,503 13,482<br />
exchange rate fluctuations<br />
Change in cash and cash equivalents due to<br />
–451 8,221<br />
discontinued operations 64,188 –11,747<br />
Change in cash and cash equivalents due to purchase accounting 340 –185<br />
Cash and cash equivalents as of January 1 67,154 57,383<br />
Cash and cash equivalents as of December 31 82,728 67,154<br />
The accompanying notes are an integral part of these consolidated Financial Statements<br />
67<br />
FINANCIAL STATEMENTS PFLEIDERER GROUP
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