100
Consolidated statement of cash flows 12 M 2013
12 M 2012
Cash and cash equivalents at beginning of year
6,137
14,208
Net profit for period
8,104
4,196
12,856
12,919
(71)
(54)
• Write-downs of non-current assets
655
1,028
• Losses from equity investments
498
465
in thousands of euro
Adjustments for: • Depreciation and amortisation • Realised gains/losses
637
943
• Income tax
• Net financial income and expenses
1,707
2,023
Change in post-employment benefit reserve
(145)
(243)
Change in general provisions
40
(99)
Change in trade receivables
1,526
4,806
Change in inventories
(4,190)
2,847
419
(9,264)
(2,245)
(1,611)
916
(692)
(2,096)
(2,877)
(706)
(1,054)
Change in trade payables Change in working capital Change in other receivables and payables, deferred tax liabilities Payment of taxes Payment of financial expenses Collection of financial income
138
219
Cash flow from operations
20,288
15,163
Investments in non-current assets • intangible
(535)
(778)
• tangible
(9,491)
(13,219)
• financial
(456)
(600)
Disposal of non-current assets
242
281
Net investments
(10,240)
(14,316)
Repayment of loans
(15,668)
(11,627)
7,572
12,556
Raising of loans Short-term financial assets
(22)
0
(Purchase)/sale own shares
3,084
(2,011)
Payment of dividends
(3,911)
(6,900)
Cash flow from financing activities
(8,945)
(7,982)
Foreign exchange differences
(2,129)
(936)
Net financial flows for the year
(1,026)
(8,071)
Cash and cash equivalents at end of year (Note 10)
5,111
6,137
Current net financial debt
17,941
24,674
Non-current financial debt
3,896
5,259
Net financial debt (Note 22)
16,726
23,796