v3.25.2
SEMI-ANNUAL CONDENSED CONSOLIDATED CASH FLOW STATEMENT - EUR (€)
€ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Profit € 47,902 € 31,332
Income taxes 20,116 17,218
Depreciation, amortization and impairment of assets 128,422 113,527
Financial income (21,207) (12,106)
Financial expenses 25,408 29,267
Foreign exchange (gains)/losses (10,214) 7,684
Provisions for obsolete inventory 14,974 7,775
(Releases)/Accruals for other provisions (5,963) 1,450
Result from investments accounted for using the equity method (659) (314)
Other non-cash expenses, net 18,575 36,124
Change in inventories (26,689) (21,568)
Change in trade receivables 26,533 21,286
Change in trade payables including customer advances (17,479) (28,354)
Change in other operating assets and liabilities (52,628) (42,268)
Interest paid (20,653) (19,587)
Income taxes paid (20,724) (21,018)
Net cash flows from operating activities 105,714 120,448
Investing activities    
Payments for property, plant and equipment (42,051) (47,926)
Payments for intangible assets (11,907) (12,151)
Payments related to right-of-use assets (1,800) 0
Proceeds from disposals of non-current financial assets 287 0
Payments for purchases of non-current financial assets (540) (1,319)
Proceeds from disposals of current financial assets and derivative instruments 10,572 15,707
Payments for acquisitions of current financial assets and derivative instruments (4,250) (21,444)
Business combinations, net of cash acquired 0 (14,608)
Acquisition of investments accounted for using the equity method (355) 0
Net cash flows used in investing activities (50,044) (81,741)
Financing activities    
Proceeds from borrowings 139,926 154,713
Repayments of borrowings (166,500) (174,223)
Repayments of other non-current financial liabilities (110) 0
Payments of lease liabilities (73,065) (66,950)
Payments for acquisition of non-controlling interests 0 (23,502)
Deferred payments for business combinations (4,673) 0
Dividends paid to non-controlling interests (1,703) (1,444)
Contribution from non-controlling interests 583 0
Net cash flows used in financing activities (105,542) (111,406)
Effects of exchange rate changes on cash and cash equivalents (9,362) 1,736
Net decrease in cash and cash equivalents (59,234) (70,963)
Cash and cash equivalents at the beginning of the period 219,130 296,279
Cash and cash equivalents at the end of the period € 159,896 € 225,316