Consolidated Statement of Cash Flows

of MAX Automation SE, Dusseldorf,
for the period from January 1 to December 31, 2020

01.01.-31.12.2020

01.01.-31.12.2019

kEUR

kEUR

Cash flow from operating activities

Notes

Net income

-26,334

-35,477

Adjustments relating to the reconciliation of consolidated net

income for the year to cash flow from operating activities

Income taxes

(35)

-2,197

1,154

Net interest result

(34)

7,421

3,886

Depreciation of intangible assets

(32)

12,975

7,950

Amortization of goodwill

(32)

7,628

2,676

Depreciation of property, plant and equipment

(32)

4,546

4,283

Adjustment of investment property

(32)

1,097

0

Depreciation of financial assets

(32)

1,666

9,867

Gain (-) / loss (+) on disposal of property, plant and equipment

(4)

217

-46

Other non-cash expenses and income

-135

-4,107

Changes in assets and liabilities

Increase (-) / decrease (+) in other non-current assets

(9)

-4

98

Increase (-) / decrease (+) in inventories

(10)

9,159

28,802

Increase (-) / decrease (+) in trade receivables

(11)

18,722

6,971

Increase (-) / decrease (+) in contract assets

(11)

7,292

12,271

Increase (-) / decrease (+) in prepayments, accured income and other assets

(12)

-162

17

Increase (-) / decrease (+) in other non-current liabilities

-589

-127

Increase (-) / decrease (+) in pensions provisions

(21)

-47

231

Increase (-) / decrease (+) in trade payables and contract liabilities

(22)

-3,627

-54,853

Increase (-) / decrease (+) in other provisions and liabilities

-8,227

1,689

Income tax paid

(35)

-1,549

-7,967

Income tax reimburse

(35)

4,175

1,803

=

Cash flow from operating activities

32,027

-20,880

2

Cash flow from investing activities

Outgoing payments for investments in intangible assets

(1)

-3,090

-2,366

Outgoing payments for investments in property, plant and equipment

(4)

-7,394

-6,178

Payments for loans granted to third parties

(7) (9)

-124

-2,173

Payments received from disposals of intangible assets

(1)

82

88

Payments received from disposals of property, plant and equipment

(4)

1,841

349

Payments for loans granted to third parties

(7) (9)

3,439

0

=

Cash flow from investing activities

-5,246

-10,280

3

Cash flow from financing activities

Notes

Outgoing payments für dividends

0

0

Borrowing of non-current financial loans

30,000

77,500

Repayment of non-current financial loans

(19)

-35,930

-32,795

Repayment ofcurrent financial loans

-1,028

0

Change in non-current financial debt

-116

-1,402

Change in current financial debt

(23)

-5,732

-1,688

Interest paid

(34)

-7,112

-2,878

Interest received

(34)

193

55

Payments for third parties

-52

0

=

Cash flow from financing activities

-19,777

38,792

4

Cash and cash equivalents

Increase/decrease in cash and cash equivalents

7,004

7,632

Effect of changes in exchange rates

146

-154

Consolidation-related changes in cash and cash equivalents

-10

-400

Cash and cash equivalents at the start of the financial year

40,596

33,518

Cash and cash equivalents at the end of the financial year

47,736

40,596

5

Composition of cash and cash equivalents

=

Cash and cash equivalents

(13)

47,736

40,596

Cash and cash equivalents at the start of the financial year

40,596

33,518

Cash flow from operating activities

32,027

-20,880

Cash flow from investing activities

-5,246

-10,280

Cash flow from financing activities

-19,777

38,792

Effect of changes in exchange rates

146

-154

Consolidation-related changes in cash and cash equivalents

-10

-400

Cash and cash equivalents at the end of the financial year

47,736

40,596

1) Further information regarding the adjusted prior year figures can be found in the notes in the chapter "Correction of errors"

The attached notes are an integral part of the Consolidated Financial Statements.

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