REPOWER

Consolidated financial statements of the Repower Group

Consolidated cash flow statement

Consolidated cash flow statement
    2015 2014
      Restated*
  Note    
Income before taxes   -152,193 -21,809
Change in      
Result from sales/liquidations of subsidiaries / disposal groups 9/25 -2,910 7,590
Own costs capitalised 7/8 -7,100 -7,291
Depreciation/amortisation and impairment 3/7/8 114,835 50,645
Appreciations 7 -5,568 -
Net financial result 4 70,664 41,237
Share of results of associates 9 12,990 6,467
Change in pension provisions (without interests) 18 748 -3,354
Change in other long term provisions (without interests)   2,935 6,218
Other income and expenses not affecting cash   2,616 -270
Change in net-current assets (excl. securities and other financial instruments)   5,890 35,528
Other financial cash outflow and inflow   -23,032 -7,348
Income taxes paid   -2,934 -9,513
Cash flow from operating activities   16,941 98,100
       
Additions of tangible and intangible assets 7/8 -19,897 -22,626
Sales of tangible and intangible assets   1,971 2,182
Disposal of subsidiaries / disposal groups 25/26 60,685 -
Additions of investments in associates 9 - -3,423
Granting of active loans   -14,000 -4,500
Repayments of non current financial assets   635 5,083
Additions of current and non-current financial assets   -14,957 -156,948
Disposals of current and non-current financial assets   140,300 147
Dividends received   331 810
Interest received   3,157 2,620
Cash flow from investing activities   158,225 -176,655
       
Increase in financial liabilities   59,285 97,155
Repayment of financial liabilities   -60,903 -13,665
Dividend payments   -931 -7,618
Sale of treasury shares   - 1,414
Purchase of non-controlling interests 9 - -190
Capital increase done by non-controlling interests   - 318
Interest paid   -16,623 -16,741
Cash flow from financing activities   -19,172 60,673
       
Translation differences   -8,562 -4,481
Change in cash and cash equivalents   147,432 -22,363
Cash and cash equivalents at 1 January 15 250,701 273,064
Cash and cash equivalents at 31 December 15 398,133 250,701

The notes are an integral part of these consolidated financial statements.

* See page 50