| (Amounts in € thousand) |
1/1-31/12/2013 |
1/1-31/12/2012 |
1/1-31/12/2013 |
1/1-31/12/2012 |
| Cash flows from operating activities |
|
|
|
|
| Loss before taxes |
-9.640 |
-1.302 |
-46.771 |
-16.768 |
| Adjustments for: |
|
|
|
|
| Depreciation |
115.360 |
124.683 |
13.044 |
13.654 |
| Impairment of tangible and intangible assets |
1.421 |
6.047 |
18 |
314 |
| Provisions |
-3.855 |
-1.377 |
864 |
-3.379 |
| Exchange differences |
21.476 |
621 |
158 |
-698 |
| Interest expense |
61.306 |
59.437 |
41.520 |
37.935 |
| Other non cash items |
5.381 |
2.556 |
4.122 |
4.145 |
| Operating profit before changes in working capital |
191.449 |
190.665 |
12.955 |
35.203 |
| (Increase)/decrease in inventories |
-193 |
3.467 |
-321 |
-256 |
| Decrease in trade and other receivables |
1.396 |
16.370 |
8.348 |
2.178 |
| (Increase)/decrease in operating long-term receivables/payables |
-2.507 |
-3.960 |
6 |
-931 |
| Increase/(decrease) in trade & other payables (excluding banks) |
2.939 |
-20.138 |
9.144 |
2.506 |
| Cash generated from operations |
193.084 |
186.404 |
30.132 |
38.700 |
| Income tax paid |
-22.242 |
-21.374 |
-1.150 |
-2.711 |
| Net cash flows from operating activities (a) |
170.842 |
165.030 |
28.982 |
35.989 |
| Cash flows from investing activities |
|
|
|
|
| Purchase of tangible assets |
-48.714 |
-44.761 |
-9.931 |
-5.669 |
| Purchase of intangible assets |
-1.668 |
-6.208 |
-551 |
-1.717 |
| Proceeds from the sale of property, plant and equipment |
4.741 |
28.637 |
692 |
6.439 |
| Proceeds from dividends |
- |
39 |
- |
- |
| Acquisition or share capital increase of subsidiaries, net of cash |
-8.003 |
-19.104 |
-30.464 |
-30.511 |
| (Disposal)/purchase of available-for-sale financial assets |
-43 |
37 |
-3 |
- |
| Interest received |
3.612 |
4.235 |
699 |
950 |
| Net cash flows used in investing activities (b) |
-50.075 |
-37.125 |
-39.558 |
-30.508 |
| Net cash flows after investing activities (a)+(b) |
120.767 |
127.905 |
-10.576 |
5.481 |
| Cash flows from financing activities |
|
|
|
|
| Proceeds from partial disposal of subsidiary's ownership
|
- |
50.000 |
- |
- |
| Proceeds from non-controlling interest's participation in subsidiaries' share capital increase |
- |
8.800 |
- |
- |
| Proceeds from sale of treasury shares |
201 |
- |
201 |
- |
| Proceeds from government grants |
- |
8 |
- |
8 |
| Interest paid |
-60.840 |
-73.351 |
-42.633 |
-38.180 |
| Dividends written-off and paid to the Greek state |
-70 |
-31 |
-70 |
-31 |
| Dividends paid to non-controlling interests |
-2.265 |
-19.115 |
- |
- |
| Proceeds from borrowings |
911.003 |
788.746 |
249.830 |
214.449 |
| Payments of borrowings |
-1.064.546 |
-936.978 |
-223.532 |
-175.635 |
| Net cash flows (used in)/from financing activities (c) |
-216.517 |
-181.921 |
-16.204 |
611 |
| Net (decrease)/increase in cash and cash equivalents (a)+(b)+(c) |
-95.750 |
-54.016 |
-26.780 |
6.092 |
| Cash and cash equivalents at beginning of the year |
284.272 |
333.935 |
35.601 |
29.478 |
| Effects of exchange rate changes |
-4.021 |
4.353 |
-41 |
31 |
| Cash and cash equivalents at end of the year |
184.501 |
284.272 |
8.780 |
35.601 |