Consolidated Cash Flow Statement

Financial statements

in thousands of EUR	Notes	2020	2019
Cash flows from operating activities
Cash generated from operations	28	794,543	1,000,863
Tax paid	10	- 40,290	- 123,482
Net cash from operating activities		754,253	877,381

Cash flows from investing activities
Purchase of property, plant and equipment	11	- 107,493	- 140,309
Purchase of intangible assets	14	- 44,701	- 57,419
Proceeds from sales of (in)tangible assets		4,401	9,655
Acquisition of subsidiaries, net of cash acquired		- 7,104	- 154,497
Settlement of contingent consideration	27	- 2,000	- 19,540
Change in other non-current receivables and lease prepayments		- 4,887	481
Net cash used in investing activities		- 161,784	- 361,629

Cash flows from financing activities
Proceeds from borrowings	22	601,843	203,196
Repayments of borrowings	22	- 804,321	- 141,171
Repayments of lease liabilities	12	- 359,217	- 400,492
Receipts from finance subleases	12	15,210	16,717
Interest paid		- 14,419	- 19,367
Interest swap payments	23	- 3,218	- 3,126
Interest received		1,531	3,179
Dividends paid to non-controlling interests	21	- 10,747	- 16,681
Dividends paid to shareholders	20	-	- 83,743
Purchase of treasury shares		-	- 3,814
Acquisition of non-controlling interest		-	- 419
Net cash used in financing activities		- 573,338	- 445,721
Net increase in cash and cash equivalents		19,131	70,031
Cash and cash equivalents at beginning of the year		134,241	71,619
Effect of exchange rate changes on cash and cash equivalents		- 636	- 7,409
Cash and cash equivalents at end of year	17	152,736	134,241

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