Annual Report 2014

VI. Notes to the Cash Flow Statement

The Cash Flow Statement is structured according to cash flows from operating activities, investing activities and financing activities.

28) Cash Flow from Operating Activities

The cash flows from operating activities (net cash) amounted to € 7,124 thousand (2013: € 2,693 thousand) in the past financial year. This includes cash from operating activities amounting to € 7,740 thousand (2013: € 4,250 thousand) as well as interest and income tax received and paid amounting to € -616 thousand (2013: € -1,557 thousand). The change in working capital in 2014 resulted in a negative cash flow contribution overall.

29) Cash Flow from Investing Activities

The cash flows from investing activities comprise cash payments for investments in property, plant and equipment and in intangible assets (property, plant and equipment € 920 thousand and intangible assets € 516 thousand) as well as € 931 thousand for the final conditional purchase price payment in connection with the acquisition of Termotek GmbH in 2011. The investment volume for the year under review tallied with the target level for 2014.

30) Cash Flow from Financing Activities

Repayments amounting to € 3,797 thousand on short-term and long-term loans were made during the year under review. At the same time a short-term loan of € 500 thousand was raised by Taicang KLH Cooling Systems Co. Ltd. In addition the amount of € 1,299 thousand was distributed to shareholders.

31) Cash and Cash Equivalents at End of Period

Cash comprises cash on hand and demand deposits. It corresponds to the cash and cash equivalents shown on the Balance Sheet.