in €k |
||||||
|---|---|---|---|---|---|---|
|
|
Notes |
|
2025 |
|
2024 |
Operating activities |
|
|
|
|
|
|
Earnings before taxes |
|
|
|
324,197 |
|
345,053 |
Adjustment for non-cash expenses and income |
|
|
|
|
|
|
Financial earnings |
|
|
|
11,099 |
|
6,039 |
Depreciation and amortisation of intangible assets and property, plant and equipment |
|
|
|
159,268 |
|
140,320 |
Gain/loss on disposal of intangible assets and property, plant and equipment |
|
|
|
2,041 |
|
525 |
Other non-cash expenses and income |
|
|
|
3,221 |
|
−674 |
Changes in net assets |
|
|
|
|
|
|
Changes in inventories |
|
|
|
−225 |
|
103,188 |
Changes in trade receivables |
|
|
|
−148,873 |
|
43,668 |
Changes in trade payables |
|
|
|
165,342 |
|
187,054 |
Changes in accruals and deferrals |
|
|
|
38,784 |
|
−31,795 |
Changes in other net assets |
|
|
|
−151,982 |
|
−119,023 |
Income taxes paid |
|
|
|
−113,092 |
|
−116,204 |
Cash flow from operating activities |
|
|
289,780 |
|
558,151 |
|
|
|
|
|
|
|
|
Investing activities |
|
|
|
|
|
|
Cash paid for acquisitions less cash acquired |
|
|
|
−158,200 |
|
−107,983 |
Proceeds from divestments |
|
|
|
1,626 |
|
0 |
Cash paid for investments in intangible assets and property, plant and equipment |
|
|
|
−121,017 |
|
−88,666 |
Cash received from the sale of intangible assets and property, plant and equipment |
|
|
|
8,664 |
|
15,533 |
Cash paid for the acquisition of time deposits and securities |
|
|
|
−72,519 |
|
−73,000 |
Cash received from the sale of time deposits and securities, and from redemptions of non-current assets |
|
|
|
72,346 |
|
30,000 |
Settlement of net investment hedges |
|
|
|
3,238 |
|
382 |
Interest payments received |
|
|
|
14,765 |
|
17,466 |
Cash flow from investing activities |
|
|
−251,097 |
|
−206,268 |
|
|
|
|
|
|
|
|
Financing activities |
|
|
|
|
|
|
Cash paid for the payment of financial liabilities |
|
|
|
−130,503 |
|
−14,284 |
Cash received from the assumption of financial liabilities |
|
|
|
8,902 |
|
49,780 |
Dividend payment |
|
|
|
−88,200 |
|
−88,200 |
Interest paid |
|
|
|
−23,636 |
|
−20,732 |
Outflow for the repayment of finance leases |
|
|
|
−67,560 |
|
−72,533 |
Cash flow from financing activities |
|
|
−300,997 |
|
−145,969 |
|
|
|
|
|
|
|
|
Exchange-rate-related changes in cash and cash equivalents |
|
|
|
−2,030 |
|
1,445 |
Changes in cash and cash equivalents |
|
|
|
−264,344 |
|
207,359 |
Cash and cash equivalents at the beginning of the period |
|
|
|
643,115 |
|
435,756 |
Cash and cash equivalents at the end of the period |
|
|
|
378,771 |
|
643,115 |
