cash flow

Result from operating activities

Net income

523,151

368,760

Adjustments to reconcile net income to net cash provided by operating activities

Depreciation and amortization of intangible assets and property, plant and equipment

11

333,741

315,454

Depreciation and amortization of assets resulting from company acquisitions

11

140,143

158,614

Employee expenses from employee shareholdings

36

19,702

14,547

Result from associated companies

24

23,673

-18,461

Distributed profits of associated companies

24, 46

229

0

Other non-cash items from tax adjustments

15

-39,607

-19,345

Other non-cash items

6, 13,14

-13,241

134,531

Operative cash flow

987,793

954,099

Change in assets and liabilities

Change in receivables and other assets

-28,480

2,920

Change in inventories

-11,102

-6,122

Change in contract assets

-51,567

-92,030

Change in income tax claims

18,468

-43,276

Change in deferred expenses

-142,526

32,219

Change in trade accounts payable

46,383

57,217

Change in other accrued liabilities

1,019

-7,390

Change in income tax liabilities

-56,191

22,941

Change in other liabilities

121,250

4,263

Change in contract liabilities

2,587

901

Change in assets and liabilities, total

-100,160

-28,357

Cash flow from operating activities

887,633

925,742

Cash flow from investing activities

Capital expenditure for intangible assets and property, plant and equipment

26, 27

-289,757

-447,033

Payments from disposals of intangible assets and property, plant and equipment

2,936

5,087

Payments for company acquisitions less cash received

4.1

-20,554

-396

Payments from company disposals less cash sold

46

8,789

0

Purchase of shares in associated companies

4.1, 24

-226,295

-1,264

Payments received from the sale of associated companies

0

500

Payments for loans granted

42

-2,423

0

Payments from the sale of financial assets

25

0

77,477

Payments received from the repayment of other financial assets

0

4,557

Cash flow from investment activities

-527,304

-361,072

Cash flow from financing activities

Purchase of treasury stock

39

-18,721

-12,235

Taking out of loans

46

1,020,000

15,722

Repayment of loans

46

-667,048

-288,000

Redemption of spectrum liabilities

42, 46

-61,266

-61,266

Redemption of lease liabilities

44, 45

-105,630

-107,168

Dividend payments

17

-93,615

-93,615

Dividend payments to non-controlling interests

40

-3,043

-2,577

Payments to minority interests

4.1, 40

-456,775

0

Cash flow from financing activities

-386,098

-549,140

Net increase in cash and cash equivalents

-25,770

15,530

Cash and cash equivalents at beginning of fiscal year

131,270

117,573

Currency translation adjustments of cash and cash equivalents

4,615

-1,831

Cash and cash equivalents at end of fiscal year

18

110,116

131,270