Sennheiser 2010 Annual Report Download - page 42

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82NOT E S ON CON S OLID A TED FINA N CIAL STAT EMENT S 20 1 0 83
NOT ES O N CON S OLID ATED FINA N CIAL STA T EMEN T S 20 10
CASH FLOW STATEMENT FOR THE FINANCIAL YEAR 2010
(€ THOUSANDS) 2010 PREVIOUS YEAR
Results of the year, including the
shares of profits of minority shareholders
32,198 3,830
Depreciation on items of fixed assets 14,248 13,200
Increase in medium- and long-term provisions 2,571 2,146
Decrease in indemnity claims 124 45
Changes in the special items –7 –6
Rate fluctuations relating to fixed assets –1,533 106
Cash earnings according to DVFA/SG principles 47,601 19,321
Increase / decrease (–) in short-term provisions 12,269 –373
Loss from the disposals of items or fixed assets 186 30
Decrease / increase (–) in inventories, trade receivables and other
assets that are not allocated to the investment or financing activities
–44,436 5,004
Increase in trade payables and other liabilities that are not allocated
to the investment or financing activities
7,526 2,490
Cash flow from current business activities 23,146 26,472
(€ THOUSANDS) 2010 PREVIOUS YEAR
Payments received from disposals of items of fixed assets 349 560
Investments (–) in tangible assets –10,740 –15,475
Investments (–) in intangible assets –1,455 –1,813
Investments (–) in fixed financial assets –2 0
Payments (–) for the acquisition of
consolidated companies and other business units
0 –2,520
Cash flow from investment activities –11,848 –19,248
Other changes in shareholders’ funds
excluding net profit for the year
Cash flow from financing activities –2,592 –6,728
Changes in cash and cash equivalents 8,706 496
Changes in cash and cash equivalents resulting from
foreign exchange and valuation effects
631 –77
Cash and cash equivalents at the start of the period 19,073 18,654
Cash and cash equivalents at the end of the period 28,410 19,073
COMPOSITION OF FINANCIAL FUNDS Dec. 31, 2010 PREVIOUS YEAR
Cash and cash equivalents 33,717 28,500
Ongoing obligations (–) to credit institutions –197 –5
Obligations from the cash pool (–) –5,110 –9,422
28,410 19,073