Cash flow

The cash flow from operating activities rose by 3.9% from EUR 1,150.4 million in 2016/17 to EUR 1,195.1 million in 2017/18 despite the significant increase in working capital by a total of EUR 426.9 million in the current business year. While this was rooted in the outstanding earnings performance, the outflow of funds for investments fell yet again, with the effect that the cash flow from investing activities (EUR –847.7 million) is lower than the previous year (EUR –1,049.8 million). The cash flow from Group financing activities is EUR –129.7 million (previous year: EUR –366.7 million). As of March 31, 2018, therefore, the closing balance of cash and cash equivalents is EUR 705.8 million.