Cash flow before capital changes in the amount of EUR 550.4 million remained approximately constant compared to the first half of the business year 2012/13 (EUR 581.4 million). Taking the change in working capital into consideration, cash flows from operating activities amounted to EUR 438.6 million in comparison to EUR 604.2 million in the first half of the preceding year; this represents a significant decrease. After the deduction of EUR 352.2 million in cash flows from investing activities and taking into account cash flows from financing activities amounting to EUR –590.6 million (mainly the repayment of borrowed funds and dividends), the resulting change in cash and cash equivalents (without net exchange differences) amounts to EUR –504.2 million.