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ePaper created 2012-04-27, 18:43:33 | version 1.23.1
Cash flow from operating activities Changes in receivables, provisions and liabilities are allocated to cash flow from operating activities. Cash outflows from operating activities includes, among others: • interest income of € 0.9 million (previous year: € 1.0 million) • interest expense of € 60.8 million (previous year: € 49.5 million) • income taxes paid of € 3.3 million (previous year: € 2.4 million) • allocations to provisions of € 8.2 million (previous year: € 6.8 million) Cash flow from investing activities Cash additions/disposals of non-current assets during the year are recognised. During the year under review, expansion investments and investments in portfolio properties totalling € 77.2 million were made. The purchase price for the Allee-Center Magdeburg of € 118,7 million (including ancillary acquisition costs) was paid in October 2011. Cash and equivalents of € 0.6 million were acquired as part of the transaction. For details of the assets acquired and liabilities assumed, see the detailed notes on the scope of consolidation. The reclassification of cash flows from operating activities in connection with the Billstedt-Center Hamburg acquisition, in the amount of € 156.7 million (shown inclusive of ancillary acquisition costs) is also recognised here, as the purchase price was paid at the end of 2010 but the company was not included in the scope of consolidation until 2011. Cash flow from financing activities In financial year 2011, a dividend of € 56,795 thousand was paid to the shareholders. Payments to third-party shareholders include the distributions paid of € 13.9 million and the purchase price payments for the increased share- holding in Stadt-Galerie Hameln and City-Galerie Wolfsburg totalling € 11.4 million. Currency-related and other changes This item is the result of changes recognised directly in equity from the currency translation of foreign investments in the amount of € 487 thousand and smaller changes. Cash flow per share in € thousand 2011 2010 Average outstanding shares (diluted) no. 51,631,400 45,544,976 Average outstanding shares (basic) no. 51,631,400 45,544,976 Operating cash flow in € thousands 98,686 69,980 Operating cash flow per share (diluted) € 1.91 1.54 Operating cash flow per share (basic) € 1.91 1.54 Cash flow from operating activities in € thousands 249,421 -94,167 Cash flow per share (diluted) € 4.83 -2.07 Cash flow per share (basic) € 4.83 -2.07 54 DES Annual Report 2011 CONSOLIDATED FINANCIAL STATEMENTS notes to the consolidated cash flow statement