Financial position
Statement of Cash Flows HUGO BOSS AG (in EUR million) |
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2013 |
|
2012 |
Cash flow from operating activities |
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240 |
|
332 |
Cash flow from investing activities |
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(73) |
|
(50) |
Cash flow from financing activities |
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(170) |
|
(316) |
Change in cash and cash equivalents |
|
(4) |
|
(33) |
Cash and cash equivalents at the beginning of the period |
|
7 |
|
40 |
Cash and cash equivalents at the end of the period |
|
3 |
|
7 |
At EUR 240 million, cash outflow from operating activities was down on the prior-year figure (2012: EUR 332 million). The decrease is mainly attributable to the EUR 77 million decline in net income combined with increased cash outflow from trade net working capital.
Cash outflow from financing activities totaled EUR 73 million in fiscal year 2013 (2012: EUR 50 million). This increase is essentially attributable to a larger amount of receivables from affiliated companies compared to the prior year. As in the prior year, investment in property, plant and equipment totaled EUR 39 million (2012: EUR 39 million).
Free cash flow, measured as the cash outflow from operating activities and the cash outflow from investing activities, decreased by EUR 115 million to EUR 167 million in the reporting year 2013 (2012: EUR 282 million).
The cash outflow from financing activities totaled EUR 170 million as of December 31, 2013 (2012: EUR 316 million). The payment of the dividend of EUR 215 million was partially compensated by higher liabilities to affiliated companies.
Cash and cash equivalents, as the sum of cash on hand and bank balances, decreased by EUR 4 million to EUR 3 million compared to the prior year (December 31, 2012: EUR 7 million).