Financial Statements and Notes > Consolidated statement of cash flows
page 129 of 198
Consolidated Statement of Cash Flows
| (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 |
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