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 |