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Financial statements

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Consolidated statement of cash flows

All amounts in € thousands

 

Note

2022

2021

Operating activities

   

Net result

 

104,095

40,293

Adjustments for:

   

Valuation movements

 

(60,658)

(3,481)

Result on disposal of investment property

 

(1,470)

(707)

Net finance result

 

307

433

Movements in working capital

 

(722)

3,217

Cash flow generated from operating activities

 

41,552

39,755

Interest paid

 

(144)

(273)

Interest received

 

-

-

Cash flow from operating activities

 

41,408

39,482

    

Investment activities

   

Proceeds from sales of investment property

 

39,634

33,133

Payments of investment property

 

(26,114)

(49,279)

Payments of investment property under construction

 

-

-

Cash flow from investment activities

 

13,520

(16,146)

    

Finance activities

   

Proceeds from the issue of share capital

 

15,000

27,000

Dividends paid

 

(39,620)

(37,441)

Cash flow from finance activities

 

(24,620)

(10,441)

    

Net increase/(decrease) in cash and cash equivalents

 

30,308

12,895

Cash and cash equivalents at beginning of year

 

21,759

8,864

Cash and cash equivalents at end of year

14

52,067

21,759