Consolidated statement of cash flows

This report is a translation of the original report in German, which is solely valid.

The report for the first quarter of 2025/26 was prepared in accordance with the International Financial Reporting Standards (IFRS). This report has not been audited or reviewed, nor does it constitute a complete consolidated interim report pursuant to IAS 34.

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**Consolidated statement of cash flows**
	04/01–06/30/2024 adjusted¹	04/01–06/30/2025

Operating activities
Profit before tax	188.5	138.7
Net interest income	36.4	36.2
Result from dividend income	–0.8	–1.1
Non-cash expenses and income, deposits and disbursements not recognized in income statement	162.5	217.2
Interest received	19.8	8.3
Interest paid	–45.0	–32.7
Taxes paid	–4.8	–11.4
Dividend income	8.3	7.6
Change in inventories	–145.1	73.9
Change in receivables and liabilities	120.8	158.3
Change in provisions	–126.1	–150.9
Cash flows from operating activities	214.5	444.1

Investing activities
Additions to other intangible assets, property, plant and equipment	–230.2	–257.7
Income from disposals of assets	4.2	1.3
Additions to/divestments of other financial assets	–374.3	–229.8
Cash flows from investing activities	–600.3	–486.2

Financing activities
Dividends paid, non-controlling interests	–86.3	–8.8
Increase in non-current financial liabilities	0.3	0.0
Repayment of non-current financial liabilities	–0.9	–0.5
Repayment of lease liabilities	–67.6	–19.0
Change in current financial liabilities and other financial liabilities	–27.7	40.6
Cash flows from financing activities	–182.2	12.3

Change in cash and cash equivalents	–568.0	–29.8
Cash and cash equivalents, beginning of year	1,322.1	781.8
Net exchange differences	–3.1	–8.5
Cash and cash equivalents, end of year	751.0	743.5

1 For a clearer presentation, interest received, interest paid, taxes paid, and dividend income are now reported directly in the structure of the consolidated cash flow statement instead of as a thereof-item in cash flow from operating activities. Profit before tax now serves as the starting point for cash flow from operating activities instead of profit after tax as was previously the case.

In millions of euros

IFRS (International Financial Reporting Standards)

Accounting regulations developed to guarantee comparable accounting and disclosure.

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