Notes on the Consolidated Statement of Cash Flows

Cash flows from operating activities in the reporting period amounted to EUR 394.4 million compared with EUR 783.3 million in the first half of the previous year. Cash flows from investing activities of EUR −375.9 million and cash flows from financing activities of EUR −647.5 million resulted in a change in cash and cash equivalents (excluding net exchange differences) of EUR −629.0 million. The repayment of non-current financial liabilities (including current maturities of long-term debt) included in cash flows from financing activities mainly relates to the repayment of the 2019–2026 bond in the amount of EUR 500 million; the increase in non-current financial liabilities includes proceeds of EUR 41.1 million from the tap issuance of the 2023–2028 convertible bond.