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Consolidated Statement of Cash Flows
€ in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2017
EUR (€)
Dec. 31, 2016
EUR (€)
Dec. 31, 2015
EUR (€)
Consolidated Statement of Cash Flows      
Cash and cash equivalents at beginning of year € 973,241 € 340,314 € 187,712
Net income / loss (-) (115,704) 54,012 (118,410)
Adjustments for:      
Tax income (-) /expenses 198 235 (1,218)
Other net financial income (-) / expenses 25,705 (8,257) (448)
Fair value re-measurement of share subscription agreement   (57,479) 30,632
Depreciation of property, plant and equipment 3,633 3,322 2,372
Amortization of intangible fixed assets 652 860 1,030
Net realized gain / loss (-) on foreign exchange transactions (357) 1,229 (398)
Share-based compensation 16,536 11,034 5,036
Increase / decrease (-) in provisions 1 7 (125)
Increase in pension liabilities 22 244 30
Gain on disposal of fixed assets   (14) (62)
Subtotal before movements in working capital (69,315) 5,192 (81,560)
Increase (-) / decrease in inventories 22 25 (44)
Increase in receivables (27,656) (12,978) (7,220)
Increase / decrease (-) in payables 14,772 2,102 (39,508)
Increase / decrease (-) in deferred income (65,722) 245,806 12,780
Cash generated / used (-) from operations (147,899) 240,148 (115,553)
Interest paid (273) (47) (49)
Interest received 1,341 1,066 1,106
Income taxes paid (199) (1,763) (94)
Net cash flows generated/used (-) in operating activities (147,030) 239,403 (114,590)
Purchase of property, plant and equipment (5,312) (4,458) (6,100)
Purchase of and expenditure in intangible fixed assets (2,125) (332) (565)
Proceeds from disposal of intangible assets   18 110
Proceeds from disposal of property, plant and equipment 7    
Decrease in restricted cash 6,510 235 2,258
Acquisition of available-for-sale financial assets   (2,750)  
Proceeds from sale of available-for-sale financial assets 372    
Net cash flows used in investing activities (549) (7,287) (4,297)
Repayment of obligations under finance leases and other debts (65) (49) (43)
Proceeds from capital and share premium increases, gross amount 363,924 392,121 278,702
Issue cost paid, related to capital and share premium increases (15,790) (337) (19,292)
Proceeds from capital and share premium increases from exercise of warrants 5,288 4,261 12,003
Net cash flows generated in financing activities 353,357 395,996 271,370
Effect of exchange rate differences on cash and cash equivalents (27,808) 4,816 118
Increase in cash and cash equivalents 177,970 632,927 152,601
Cash and cash equivalents at end of year € 1,151,211 € 973,241 € 340,314