112 ALTANA Group Consolidated Statement of Cash Flows
ALTANA Group Consolidated Statement of Cash Flows
Notes 2019 2020
in € thousand
Net income (EAT) 169,049 75,147
Depreciation and amortization of intangible assets and property,
plant and equipment 12, 13 149,241 154,593
Impairment of intangible assets and property, plant and equipment 12, 13 4,068 85,621
Change in fair value of financial assets and securities 8, 9 (2,851) (1,266)
Net result from the disposal of intangible assets and property,
plant and equipment 6, 7 433 (198)
Net result from the disposal of long-term investments and
marketable securities 8, 9 17 (443)
Change in inventories 16 29,572 11,853
Change in trade accounts receivable 17 6,265 (26,031)
Change in income taxes 10 (12,341) 8,276
Change in provisions 24, 25 12,058 12,455
Change in trade accounts payable (14,156) 7,817
Change in other assets and other liabilities 20, 26 9,561 6,549
Other 15 35,425 39,271
Cash flow from operating activities 386,341 373,644
Capital expenditure on intangible assets and property,
plant and equipment 12, 13 (157,180) (105,223)
Proceeds from the disposal of intangible assets and property,
plant and equipment 12, 13 798 4,380
Acquisitions, net of cash acquired 3 (8,587) (106,091)
Purchase of long-term investment and investments in at equity
companies 14, 15 (47,569) (6,314)
Proceeds from the disposal of long-term investments 14 26 33
Payments on long-term loans (16,000)
Purchase of marketable securities 18 (42,500) (37,078)
Proceeds from the disposal of marketable securities 8, 9 44,296 31,906
Expenditure on short-term financial assets (2,131) (1,575)
Cash flow from investing activities (228,847) (219,962)