 |
||
| € 1,000 | 2006 | 2005 |
| Cash flow from operating activities | ||
| Net income before taxes | 59,051.7 | 47,647.9 |
| Revaluation gains/losses | -32,794.6 | -40,389.6 |
| Depreciation and amortisation | 996.7 | 827.0 |
| Income from the sale of properties, office furniture and equipment | -2,976.9 | 0.0 |
| Loss from asset disposal | 51.8 | 2.2 |
| Taxes paid | -2,193.9 | -1,720.7 |
| Interest income/expense | 9,622.7 | 7,687.9 |
| Foreign currency gains/losses | -4,890.8 | 4,881.3 |
| Operating cash flow | 26,866.7 | 18,936.0 |
| Receivables and other assets | 160.0 | -84.7 |
| Trade creditors | 4,915.4 | -1,686.4 |
| Provisions | 1,136.0 | 557.8 |
| Deferred tax assets/liabilities | -1,252.1 | 934.1 |
| Other short-term liabilities | -4,137.5 | -226.7 |
| Cash flow from change in net current assets | 821.8 | -505.9 |
| Cash flow from operating activities | 27,688.5 | 18,430.1 |
| Cash flow from investment activities | ||
| Acquisition of property assets | -20,724.2 | -55,838.1 |
| Acquisition of property companies, less cash and cash equivalents in the amount of € 596,000 (2005: € 7,152,000) | -43,487.6 | -88,774.3 |
| Acquisition of office equipment and intangible assets | -437.2 | -3,470.9 |
| Prepayments on investments in properties | -2,000.0 | 0.0 |
| Acquisition of financial assets | -8,090.1 | 0.0 |
| Acquisition of securities | -200,000.0 | 0.0 |
| Disposal of properties, property companies | 27,362.1 | 0.0 |
| and other assets | ||
| Interest received from financial investments | 1,491.8 | 1,608.3 |
| Financing of joint ventures | -121.8 | 422.2 |
| Cash flow from investment activities | -246,007.0 | -146,052.8 |
| Cash flow from financing activities | ||
| Cash inflow from financing | 45,604.1 | 50,456.3 |
| Cash inflow from IPO | 270,780.3 | 0.0 |
| Cash inflow from partners' contributions before IPO | 33,474.9 | 79,610.6 |
| Minority deposits | 0.0 | 3.5 |
| Distribution of last year's result | -16,479.9 | -3,000.9 |
| Financing through related companies | -37,934.4 | 31,966.1 |
| Repayment of financing | -51,028.4 | -12,366.7 |
| Interest paid | -13,423.1 | -9,559.0 |
| Cash flow from financing activities | 230,993.5 | 137,109.9 |
| Net change in cash and cash equivalents | 12,675.0 | 9,487.2 |
| Cash and cash equivalents as at 1 January | 20,550.5 | 10,887.1 |
| Changes in the value of foreign currency | 745.5 | 176.2 |
| Net change in cash and cash equivalents[1] | 12,675.0 | 9,487.2 |
| Cash and cash equivalents as at 31 December | 33,971.0 | 20,550.5 |
For the capital increase please refer to capital increase.
[1] For composition of cash and cash equivalents, see cash and cash equivalents in the appendix