|
|
|
| Cash flow from operating activities |
|
|
| Net income |
47’201 |
39’871 |
| Income tax expenses |
11’999 |
7’689 |
| Financial income and expenses |
1’616 |
4’741 |
| Share of results of associates |
– |
2’494 |
| Depreciation |
17’476 |
17’416 |
| Amortization |
3’632 |
3’133 |
| Change in inventories |
52’976 |
-36’129 |
| Change in trade receivables |
3’906 |
5’331 |
| Change in other current assets |
10’902 |
-6’544 |
| Change in trade payables |
-1’448 |
1’180 |
| Change in customers’ advance payments |
-17’977 |
23’494 |
| Change in provisions |
4’045 |
-70 |
| Change in other liabilities |
3’812 |
1’947 |
| Adjustment for non-cash items |
6’435 |
2’455 |
| Interest received |
449 |
227 |
| Interest paid |
-2’365 |
-2’865 |
| Income taxes paid |
-10’464 |
-13’627 |
| Total cash flow from operating activities |
132’195 |
50’743 |
|
|
|
| Cash flow from investing activities |
|
|
| Purchase of property, plant and equipment |
-17’425 |
-29’484 |
| Sale of property, plant and equipment |
1’226 |
2’555 |
| Purchase of intangible assets |
-2’938 |
-4’851 |
| Increase in financial assets |
– |
-2’100 |
| Acquisition of group companies net of cash acquired |
-21’227 |
-15’783 |
| Total cash flow from investing activities |
-40’364 |
-49’663 |
|
|
|
| Cash flow from financing activities |
|
|
| Increase in financial liabilities |
100’154 |
43’010 |
| Decrease in financial liabilities |
-126’109 |
-5’710 |
| Purchase of treasury shares |
-3’153 |
-3’735 |
| Acquisiton of non-controlling interests |
-50’400 |
– |
| Dividends paid |
-29’954 |
-22’289 |
| Total cash flow from financing activities |
-109’462 |
11’276 |
|
|
|
| Currency translation differences on cash and cash equivalents |
2’682 |
-5’047 |
|
|
|
| Net change in cash and cash equivalents |
-14’949 |
7’309 |
|
|
|
| Cash and cash equivalents at beginning of period |
90’319 |
83’010 |
| Cash and cash equivalents at end of period |
75’370 |
90’319 |
| Net change in cash and cash equivalents |
-14’949 |
7’309 |