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Consolidated Statement of Cash Flows

of the HUGO BOSS Group for the period from January 1 to December 31, 2015

Consolidated Statement of Cash Flows (in EUR thousand)

 

 

Notes

 

2015

 

2014

 

 

(35)

 

 

 

 

Net income

 

 

 

319,418

 

334,480

Depreciation/amortization

 

(10)

 

142,099

 

122,760

Unrealized net foreign exchange gain/loss

 

 

 

7,915

 

(3,049)

Other non-cash transactions

 

 

 

(2,229)

 

5,178

Income tax expense/refund

 

(7)

 

100,556

 

102,668

Interest income and expenses

 

(6)

 

5,901

 

4,518

Change in inventories

 

 

 

(22,852)

 

(45,778)

Change in receivables and other assets

 

 

 

595

 

(31,987)

Change in trade payables and other liabilities

 

 

 

38,963

 

27,684

Result from disposal of non-current assets

 

 

 

(2,000)

 

(2,478)

Change in provisions for pensions

 

(26)

 

(7,110)

 

(1,319)

Change in other provisions

 

 

 

(9,261)

 

13,969

Income taxes paid

 

 

 

(145,525)

 

(128,389)

Cash flow from operations

 

 

 

426,470

 

398,257

Interest paid

 

(6)

 

(4,076)

 

(4,458)

Interest received

 

(6)

 

1,190

 

1,628

Cash flow from operating activities

 

 

 

423,584

 

395,427

Investments in property, plant and equipment

 

(12)

 

(154,256)

 

(104,459)

Investments in intangible assets

 

(11)

 

(39,857)

 

(25,307)

Acquisition of subsidiaries and other business entities less cash and cash equivalents acquired

 

(35)

 

(22,951)

 

0

Cash receipts from sales of property, plant and equipment and intangible assets

 

 

 

1,106

 

2,702

Cash flow from investing activities

 

 

 

(215,958)

 

(127,064)

Dividends paid to equity holders of the parent company

 

(24)

 

(249,839)

 

(230,514)

Dividends paid to non-controlling interests

 

 

 

0

 

0

Change in current financial liabilities

 

 

 

24,278

 

262

Cash receipts from non-current financial liabilities

 

 

 

76,280

 

0

Repayment of non-current financial liabilities

 

 

 

(105,973)

 

(12,447)

Cash outflows for the purchase of additional interests in subsidiaries without change of control

 

 

 

(114)

 

(18,838)

Cash flow from financing activities

 

 

 

(255,368)

 

(261,537)

Exchange-rate related changes in cash and cash equivalents

 

 

 

520

 

2,563

Change in cash and cash equivalents

 

 

 

(47,222)

 

9,389

Cash and cash equivalents at the beginning of the period

 

 

 

128,631

 

119,242

Cash and cash equivalents at the end of the period

 

(18)

 

81,409

 

128,631

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