Consolidated cash flow statement
| € thousand | 31/12/2021 | Related parties |
31/12/2020 | Related parties |
Change |
|---|---|---|---|---|---|
| Cash flow from operating activities | |||||
| Profit before tax | 503,002 | 461,205 | 41,796 | ||
| Depreciation/amortisation and impairment charges | 546,626 | 498,257 | 48,369 | ||
| Revaluations/Impairment charges |
57,360 | 34,879 | 22,481 | ||
| Increase/(decrease) in provisions for liabilities |
(3,706) | 3,362 | (7,067) | ||
| Net change in the provision for employee benefits | (7,004) | 18,737 | (25,740) | ||
| Net financial interest | 85,897 | 88,018 | (2,121) | ||
| Income taxes paid | (180,117) | (119,424) | (60,693) | ||
| Cash flow generated b operating activities before changes in working capital | 1,002,058 | 0 | 985,034 | 0 | 17,024 |
| Increase/Decrease in receivables included in current assets | (184,891) | (20,479) | 21,976 | 27,718 | (206,866) |
| Increase/Decrease in payables included in the working capital | 90,810 | 25,265 | 30,699 | (34,089) | 60,111 |
| Increase/Decrease in inventories | 7,209 | (28,367) | 35,576 | ||
| Change in working capital | (86,872) | 4,785 | 24,308 | (6,371) | (111,179) |
| Change in other assets/liabilities during the period | (158,925) | (182,600) | 23,675 | ||
| Cash flow from operations o disposal groups/assets held for sale | 3,259 | 0 | 3,259 | ||
| TOTAL CASH FLOW FROM OPERATING ACTIVITIES | 759,521 | 4,785 | 826,742 | (6,371) | (67,221) |
| Cash flow from investment activities | |||||
| Purchase/sale of tangible fixe assets | (626,507) | (572,313) | (54,195) | ||
| Purchase/sale of intangible fixe assets | (354,759) | (334,656) | (20,103) | ||
| Equity investments | (90,048) | (103,792) | 13,743 | ||
| Collections/payments derivin from other financial investments | 1,340 | (41,953) | (68,463) | (16,142) | 69,802 |
| Dividends received | 7,423 | 7,423 | 29,848 | 29,848 | (22,425) |
| Interest income received | 14,511 | 14,990 | (479) | ||
| Cash flow from investment of disposal groups/assets held for sale | (3,189) | 0 | (3,189) | ||
| Total cash flow from investmen activities | (1,051,231) | (34,531) | (1,034,385) | 13,706 | (16,846) |
| Cash flow from financing activities | |||||
| Repayment of mortgages and long-term loans | (233,995) | (487,747) | 253,752 | ||
| Provision of mortgages/other debts and medium to long term | 902,500 | 604,900 | 297,600 | ||
| Decrease/Increase in other financial debts | (146,968) | 13,577 | 58,832 | 54,098 | (205,800) |
| Interest expense paid | (100,752) | (102,158) | 1,406 | ||
| Dividends paid | (96,743) | (96,743) | (93,212) | (93,212) | (3,531) |
| Cash flow from loans of disposa groups/assets held for sale | 0 | 0 | 0 | ||
| TOTAL CASH FLOW FROM FINANCING ACTIVITIES | 324,042 | (83,166) | (19,384) | (39,114) | 343,426 |
| Cash flow for the period | 32,332 | (112,911) | (227,028) | (31,779) | 259,360 |
| Net opening balance of cash and cash equivalents | 642,209 | 835,693 | (193,484) | ||
| Cash availability from acquisition | 18,652 | 33,544 | (14,891) | ||
| Net closing balance of cash and cash equivalents | 693,193 | 642,209 | 50,984 | ||
| Cash and cash equivalents at th end of the year disposal groups/ assets held for sale | 12,374 | 0 | 12,374 | ||
| Cash and cash equivalent at the end of the year continuing operations | 680,820 | 642,209 | 38,611 |