cash flow

Result from operating activities

Net income

368,760

538,956

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

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

11

315,454

292,665

Depreciation and amortization of assets resulting from company acquisitions

11

158,614

181,436

write-ups on intangible assets

28

0

-19,438

Employee expenses from employee shareholdings

36

14,547

8,510

Result from associated companies

24

-18,461

8,225

Income from the sale of associated companies

9.2, 24

0

-21,512

Other non-cash items from tax adjustments

15

-19,345

-37,645

Other non-cash items

6, 13,14

134,531

-16,165

Operative cash flow

954,099

935,032

Change in assets and liabilities

Change in receivables and other assets

2,920

21,346

Change in inventories

-6,122

10,349

Change in contract assets

-92,030

-89,578

Change in income tax claims

-43,276

108,065

Change in deferred expenses

32,219

34,749

Change in trade accounts payable

57,217

-81,041

Change in other accrued liabilities

-7,390

-29,491

Change in income tax liabilities

22,941

-96,258

Change in other liabilities

4,263

18,589

Change in contract liabilities

901

-2,835

Change in assets and liabilities, total

-28,357

-106,104

Cash flow from operating activities

925,742

828,928

Cash flow from investing activities

Capital expenditure for intangible assets and property, plant and equipment

27

-447,033

-252,776

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

5,087

8,775

Payments for company acquisitions less cash received

4.1

-396

0

Purchase of shares in associated companies

4.1, 24

-1,264

-5,037

Payments received from the sale of associated companies

500

35,627

Payments for loans granted

0

-3,630

Payments from the sale of financial assets

38

77,477

303,727

Payments received from the repayment of other financial assets

4,557

525

Cash flow from investment activities

-361,072

87,211

Cash flow from financing activities

Purchase of treasury stock

39

-12,235

-373,584

Taking out loans

46

15,722

15,453

Repayment of loans

46

-288,000

-216,228

Redemption of spectrum liabilities

42, 46

-61,266

-61,266

Redemption of lease liabilities

44, 45

-107,168

-111,023

Dividend payments

17

-93,615

-10,015

Dividend payments to non-controlling interests

-2,577

-2,557

Payments to minority interests

0

-98,384

Cash flow from financing activities

-549,140

-857,604

Net increase in cash and cash equivalents

15,530

58,535

Cash and cash equivalents at beginning of fiscal year

117,573

58,066

Currency translation adjustments of cash and cash equivalents

-1,831

973

Cash and cash equivalents at end of fiscal year

18

131,270

117,573