(24) Cash Flow from Investing Activities

The net cash flow used in investing activities amounts to 18,074 thousand euros (prior year: 9,500 thousand euros) and mainly comprises outgoing payments for the acquisition of new group enterprises and for investments in intangible assets and property, plant and equipment. These payments are diminished by cash inflows from interest payments and from the sale of property, plant and equipment, consolidated companies, and other assets.

The outgoing payments for the acquisition of new group enterprises comprise payments for the original acquisition and subsequent purchase price adjustments. Cash and cash equivalents acquired with the new group enterprises are deducted from outstanding purchase price payments in this item. An analogous method is used for sales of group enterprises. The amount of acquired liquid assets, purchase prices and further explanatory notes on the acquisition are contained in Item VIII.

The incoming payment from the sale of consolidated companies is netted against the surrendered cash and cash equivalents of the companies sold. The amount of cash and cash equivalents, the purchase price, and other explanations are provided under Item II “Consolidated Companies”.