Consolidated cash flow statement for the six months ended 30 June

Amounts in EUR '000	2022	2021
	Unaudited	Unaudited

Cash flows from operating activities

Profit before tax	6,376	9,215

Adjustments for:
Depreciation and amortization of Property, Plant and Equipment and Intangible assets	7,058	7,374
Depreciation of right-of-use assets	4,605	2,449
Unrealised changes in joint ventures	21	1
Impairment (losses) / reversals on financial assets	-	2
Net finance costs	1,074	1,196

Changes in net working capital
o Inventories	(19)	(140)
o Contract assets and liabilities	(19,914)	80,308
o Trade receivables	(1,165)	620
o Prepayments	160	(1,934)
o Trade payables	(3,014)	(25,584)
Total changes in net working capital	(23,952)	53,270

VAT payable and receivable	1,222	192
Initial direct costs on operating lease contracts	(605)	-
Other financial assets	-	1,186
Employee benefits	(36)	(726)
Wage tax and social security	894	(1,141)
Other liabilities	3,607	(201)

Government grants received	516	375
Income taxes received / (paid)	(1,349)	(2,075)
Interest received / (paid)	(458)	(440)
Net cash from operating activities	(1,027)	70,677

Amounts in EUR '000	2022	2021
	Unaudited	Unaudited

Cash flows from investing activities
Purchase of property, plant and equipment	(5,869)	(4,777)
Acquisition of subsidiaries	-	(578)
Net cash from (used in) investing activities	(5,869)	(5,355)

Cash flows from financing activities
Payment of lease liabilities	(3,890)	(3,197)
Dividends paid	(4,846)	(3,060)
Net cash from (used in) financing activities	(8,736)	(6,257)

Net increase / (decrease) in cash and cash equivalents	(15,632)	59,065

Cash and cash equivalents at 1 January	73,201	2,645

Cash and cash equivalents at 30 June	57,569	61,710

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