Consolidated cash flow statement

in € 1,000

2008

2007

Operating income

7,328

7,915

Adjustments for:

- depreciation

2,015

1,585

- impairment

-

1,330

- income tax paid

-2,182

-3,165

- interest received and paid

98

238

7,259

7,903

Changes in:

- inventories

213

-1,479

- receivables

730

-6,656

- non-current liabilities

-42

-1,683

- current liabilities

-3,033

7,578

-2,132

-2,240

5,127

5,663

Cash flow from investing activities

Acquisition and divestment of subsidiaries

132

-7,987

Investment in property, plant and equipment

-1,920

-3,504

Divestments of property, plant and equipment

29

555

Divestments of associates and joint ventures

-

469

-1,759

-10,467

Cash flow from financing activities

Dividends paid

-2,890

-2,288

Other financing activities

-24

-40

-2,914

-2,328

Net change in cash and cash equivalents

454

-7,132

Cash and cash equivalents at 1 January

4,928

12,452

Cash in acquired and divested subsidiaries

-

-392

Net change in cash and cash equivalents

454

-7,132

Cash and cash equivalents at 31 December

5,382

4,928