Non-cash expenses and income include EUR 395.8 million in depreciation/revaluation (also of financial assets). Taking the change in working capital into account, the cash flows from operating activities in the reporting period are EUR 372.2 million, compared with EUR 562.8 million in the first half of the previous year. This decrease of –33.9% arises from the significant increase in working capital (particularly inventories). A total of EUR –512.7 million in cash flows from investing activities (which include EUR –259.8 million in investments in other financial assets) and EUR –459.6 million in cash flows from financing activities (largely repayments of non-current financial liabilities and dividend payments) lead to a change in cash and cash equivalents (excluding net exchange differences) of EUR –600.1 million. The investments in other financial assets include repo transactions entailing CO2 repos (purchases of CO2 allowances subject to simultaneous repurchase agreements) in the amount of EUR 259.9 million.