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Financial statements

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Consolidated statement of cash flows

All amounts in € thousands

 

Note

2021

2020

Operating activities

   

Net result

 

40,293

3,826

Adjustments for:

   

Valuation movements

 

(3,481)

31,045

Result on disposal of investment property

 

(707)

1,461

Net finance result

 

433

457

Movements in working capital

 

3,217

(1,396)

Cash flow generated from operating activities

 

39,755

35,393

Interest paid

 

(273)

(303)

Interest received

 

-

-

Cash flow from operating activities

 

39,482

35,090

    

Investment activities

   

Proceeds from sales of investment property

 

33,133

2,428

Payments of investment property

 

(49,279)

(20,639)

Payments of investment property under construction

 

-

-

Cash flow from investment activities

 

(16,146)

(18,211)

    

Finance activities

   

Proceeds from the issue of share capital

 

27,000

-

Dividends paid

 

(37,441)

(37,520)

Cash flow from finance activities

 

(10,441)

(37,520)

    

Net increase/(decrease) in cash and cash equivalents

 

12,895

(20,641)

Cash and cash equivalents at beginning of year

 

8,864

29,505

Cash and cash equivalents at end of year

15

21,759

8,864