| (EUR thousand) | Note (36) | 2008 | 2007 |
|---|---|---|---|
| Profit after taxes | 342,213 | 341,020 | |
| Depreciation, amortization, impairments and impairment reversals | 522,698 | 313,020 | |
| Changes in provisions | 63,396 | 69,172 | |
| Changes in deferred taxes | 30,590 | 2,891 | |
| Gains/(losses) from disposals of non-current assets and marketable securities | (43,230) | (96,365) | |
| Other non-cash income and expenses (primarily equity accounting) and deconsolidations | (191,325) | (65,076) | |
| Changes in working capital (net current assets) | (483,902) | (46,693) | |
| Changes in other balance sheet items | 25,689 | 91,331 | |
| Net cash provided by operating activities | 266,129 | 609,300 | |
| Intangible assets, property, plant and equipment, and investment properties | |||
| Purchases | (645,492) | (703,174) | |
| Proceeds from asset disposals | 128,682 | 264,217 | |
| Acquisitions and participating interests | |||
| Purchases | (510,504) | (1,071,029) | |
| Proceeds from asset disposals/divestments | 293,691 | 64,673 | |
| Changes in cash and cash equivalents due to consolidation changes | (19,660) | 77,999 | |
| Changes in securities holdings and financial receivables | (148,057) | (187,283) | |
| Net cash used in investing activities | (901,340) | (1,554,597) | |
| Payments for repurchase of treasury stock | (93,512) | - | |
| Payments received from sale of treasury stock | 1,111 | 336,002 | |
| Payments into equity by minority shareholders | 222,121 | - | |
| Dividends to HOCHTIEF?s and minority shareholders | (234,615) | (195,603) | |
| Proceeds from new borrowing | 2,240,343 | 1,193,490 | |
| Service of debt | (1,089,334) | (298,722) | |
| Net cash provided by financing activities | 1,046,114 | 1,035,167 | |
| Net cash increase in cash and cash equivalents | 410,903 | 89,870 | |
| Effect of exchange rate changes | (25,717) | (81,855) | |
| Transfer to HOCHTIEF pension fund | - | (2,500) | |
| Overall change in cash and cash equivalents | 385,186 | 5,515 | |
| Cash and cash equivalents at the start of the year | 1,402,527 | 1,397,012 | |
| Cash and cash equivalents at year-end | 1,787,713 | 1,402,527 |