Cash Flow / Liquidity
At € 152.6 million, the cash flow
from operating activities was up € 3.2 million compared to the previous
year, due mainly to the substantially higher profitability. Excluding
the Management Participation Program payment, cash flow from operating
activities was up € 46.2 million compared to last year.
In 2007, Symrise invested a total of € 44.6 million (2006: € 50.8 million) worldwide in intangible assets, property, plant, and equipment, and acquisitions.
Cash outflows from financing activities amounted to € 101.0 million (2006: € 83.8 million) and are mainly attributable to repayment of bank loans and outstanding shareholder loans. As a positive countervailing trend, the interest payments to banks were reduced to € 27.0 million (2006: € 63.3 million).
Further information pertaining to the Group’s cash flows is provided in the Notes to the Financial Statements.