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Consolidated Cash Flow Statements - EUR (€)
€ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net profit/(loss) for the year € (481,447) € (583,194) € (383,577)
Reversal of finance income (43,857) (52,181) (59,718)
Reversal of finance expenses 44,065 50,487 3,911
Reversal of gain and loss on disposal of property, plant and equipment 5 22 0
Reversal of income taxes (expenses) 7,303 5,377 (367)
Adjustments for non-cash items:      
Non-cash consideration relating to revenue (2,354) (2,547) (2,365)
Share of profit/(loss) of associate 18,395 17,697 (12,041)
Share-based payment 66,660 64,180 66,830
Depreciation 18,428 17,514 14,946
Impairment of property, plant and equipment 7,834    
Amortization 483 444 445
Changes in working capital:      
Inventories (78,258) (55,268) (75,405)
Receivables (32,773) (11,531) (6,659)
Prepayments (11,413) (6,409) (11,238)
Contract liabilities (deferred income) (7,080) 8,648 5,202
Trade payables, accrued expenses and other payables 3,551 45,943 39,186
Increase/(decrease) in provisions 26,187 6,145 1,193
Cash flows generated from/(used in) operations (464,271) (494,673) (419,657)
Finance income received 17,048 8,271 3,697
Finance expenses paid (15,672) (9,294) (1,841)
Income taxes received/(paid) (4,466) (3) 152
Cash flows from/(used in) operating activities (467,361) (495,699) (417,649)
Investing activities      
Investment in associate 0 0 (10,187)
Proceeds from disposal of property, plant and equipment 51 0 0
Acquisition of property, plant and equipment (2,442) (14,489) (23,704)
Reimbursement for acquisition of property, plant and equipment 0 9,535 0
Development expenditures (software) 0 0 (530)
Purchase of marketable securities 0 (213,842) (226,038)
Settlement of marketable securities 288,865 280,528 149,880
Cash flows from/(used in) investing activities 286,474 61,732 (110,579)
Financing activities      
Payment of principal portion of lease liabilities (10,438) (6,356) (6,429)
Net proceeds from borrowings 136,256 503,281 0
Proceeds from exercise of warrants 10,286 5,153 11,537
Net proceeds from follow-on public offerings 0 0 367,884
Acquisitions of treasury shares, net of transaction costs 0 (105,305) (21,605)
Payment of withholding taxes under stock incentive programs (1,812) 0 0
Cash flows from/(used in) financing activities 134,292 396,773 351,387
Increase/(decrease) in cash and cash equivalents (46,595) (37,194) (176,841)
Cash and cash equivalents at January 1 444,767 446,267 584,517
Effect of exchange rate changes on balances held in foreign currencies (6,008) 35,694 38,591
Bank deposits 392,164 427,810 441,736
Short-term marketable securities 0 16,957 4,531
Cash and cash equivalents at December 31 € 392,164 € 444,767 € 446,267