PDF - Part of the Annual Report - Ludwig Beck

48 | Management Report
Consolidated cash flow statement for the Ludwig Beck Group
2001 2001 2000
€ million € million
Net income 3.8 5.2
Depreciation 3.0 2.9
Increase/Decrease (+/-) in long-term accruals -0.4 0.1
Non-cash expenditure/income (+/-) -0.7 0.0
Cash flow 5.7 8.2
Decrease/Increase (+/-) in working capital -2.3 0.7
Net cash from operating activities 3.4 8.9
Proceeds from disposal of fixed assets 0.4 0.0
Disbursements for additions to fixed assets -2.5 -4.0
Disbursements for the acquisition of affiliated companies -10.4 -0.0
Net cash used in investing activities -12.5 -4.0
Contributions from minority interests 0.1 0.1
Dividend payment -2.8 -2.9
Purchase of own shares -0.8 -2.1
Increase/Decrease (+/-) in interest-bearing liabilities 12.9 -0.2
Net cash from/used in financing activities (+/-) 9.4 -5.1
Change in cash and cash equivalents 0.3 -0.2
Cash and cash equivalents at beginning of fiscal year 0.6 0.8
Cash and cash equivalents at end of fiscal year 0.9 0.6
In the consolidated cash flow statement for the Ludwig
Beck Group, net cash from operating activities fell to
€ 3.4 (2000: 8.9) million. This was caused in part by an
increase in working capital of € 2.3 (2000: reduction of
0.7) million, resulting from a reduction in short-term
accruals of € 2.0 million.
Net cash used in financing activities includes an amount
of € 10.4 million for the purchase of a majority shareholding
in Feldmeier GmbH & Co. Betriebs KG. The investing
activities were financed by the raising of further loans.