104 ALTANA Group Consolidated Statement of Cash Flows
ALTANA Group Consolidated Statement of Cash Flows
Notes 2018 2019
in € thousand
Net income (EAT) 186,989 169,049
Depreciation and amortization of intangible assets and property,
plant and equipment 13, 14 134,842 149,241
Impairment of intangible assets and property, plant and equipment 13, 14 4,068
Change in fair value of financial assets and securities 10 (27) (2,851)
Net result from the disposal of intangible assets and property,
plant and equipment 7, 8 (1,414) 433
Net result from the disposal of long-term investments and
marketable securities 9 (55) 17
Change in inventories 17 (40,369) 29,572
Change in trade accounts receivable 18 (11,379) 6,265
Change in income taxes 11 1,723 (12,341)
Change in provisions 25, 26 (14,411) 12,058
Change in trade accounts payable 2,367 (14,156)
Change in other assets and other liabilities 21, 27 11,804 9,561
Other 16 26,165 35,425
Cash flow from operating activities 296,235 386,341
Capital expenditure on intangible assets and property,
plant and equipment 13, 14 (186,988) (157,180)
Proceeds from the disposal of intangible assets and property,
plant and equipment 13, 14 5,843 798
Acquisitions, net of cash acquired 3 (3,126) (8,587)
Purchase of long-term investment and investments in at equity
companies 15, 16 (54,901) (47,569)
Proceeds from the disposal of long-term investments 15 54 26
Payments on long-term loans (23,010) (16,000)
Proceeds from long-term loans 71,014
Purchase of marketable securities 19 (31,339) (42,500)
Proceeds from the disposal of marketable securities 9, 10 27,462 44,296
Change in short-term financial assets (700) (2,131)
Cash flow from investing activities (195,691) (228,847)