|
Cash flow from operating activities
|
|
|
|
Net income
|
32'201
|
29'023
|
|
Income tax expenses
|
8'860
|
8'904
|
|
Financial income and expenses
|
2’238
|
1’867
|
|
Share of results of associates
|
1’208
|
1’888
|
|
Depreciation
|
17’667
|
17’411
|
|
Amortization
|
4’170
|
3’897
|
|
Change in inventories
|
–13’736
|
42’029
|
|
Change in trade receivables
|
–37’991
|
–10’412
|
|
Change in other current assets
|
317
|
–10’627
|
|
Change in trade payables
|
22’730
|
3’452
|
|
Change in customers’ advance payments
|
10’298
|
–46’169
|
|
Change in provisions
|
1’160
|
2’037
|
|
Change in other liabilities
|
4’767
|
19’119
|
|
Adjustment for non-cash items
|
2’093
|
1’082
|
|
Interest received
|
568
|
578
|
|
Interest paid
|
–1’883
|
–1’743
|
|
Income taxes paid
|
–12’872
|
–17’977
|
|
Total cash flow from operating activities
|
41'795
|
44’359
|
|
|
|
|
|
Cash flow from investing activities
|
|
|
|
Purchase of property, plant and equipment
|
–22’384
|
–8’730
|
|
Sale of property, plant and equipment
|
18’490
|
810
|
|
Purchase of intangible assets
|
–2’546
|
–5’101
|
|
Increase in Financial Assets
|
–1’485
|
–
|
|
Acquisition of group companies net of cash acquired
|
–
|
–4’197
|
|
Disposal of group companies
|
144
|
–
|
|
Total cash flow from investing activities
|
–7’781
|
–17’218
|
|
|
|
|
|
Cash flow from financing activities
|
|
|
|
Increase in financial liabilities
|
367
|
2’322
|
|
Decrease in financial liabilities
|
–5’096
|
–6’961
|
|
Dividends paid
|
–20’361
|
–23’859
|
|
Transactions with non-controlling interests
|
–
|
299
|
|
Total cash flow from financing activities
|
–25’090
|
–28’199
|
|
|
|
|
|
Currency translation differences on cash and cash equivalents
|
–991
|
1’243
|
|
|
|
|
|
Net change in cash and cash equivalents
|
7’933
|
185
|
|
|
|
|
|
Cash and cash equivalents at beginning of period
|
75’077
|
74’892
|
|
Cash and cash equivalents at end of period
|
83’010
|
75’077
|
|
Net change in cash and cash equivalents
|
7’933
|
185
|
