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Financial statements

Consolidated statement of cash flows

All amounts in € thousands

 

Note

2016

2015

Operating activities

   

Net result

 

30,506

4,034

Adjustments for:

   

Valuation movements

 

(11,631)

20,134

Result on disposal of investment property

 

-

(535)

Net finance result

 

68

(1)

Movements in working capital

 

(5,756)

(1,487)

Cash flow generated from operating activities

 

13,187

22,145

Interest paid

 

(68)

-

Interest received

 

-

1

Cash flow from operating activities

 

13,119

22,146

    

Investment activities

   

Proceeds from sale of investment property

 

-

70,024

Payments of investment property

12

(10,723)

(8,103)

Payments of investment property under construction

13

(2,400)

(1,479)

Cash flow from investment activities

 

(13,123)

60,442

    

Finance activities

   

Proceeds from the issue of share capital

 

10,000

10,000

Redemption of shares

 

(50,000)

-

Dividends paid

 

(19,241)

(24,424)

Cash flow from finance activities

 

(59,241)

(14,424)

    

Net increase/(decrease) in cash and cash equivalents

 

(59,245)

68,164

Cash and cash equivalents at beginning of year

 

86,768

18,604

Cash and cash equivalents at end of year

15

27,523

86,768

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