€ million | 1–3/2005 | 1–3/2004 | Change, % | 1–12/2004 |
Operating profit | 48.9 | 45.1 | 8.4 | 294.0 |
Adjustments to operating profit | 11.8 | 18.0 | -34.5 | 56.1 |
Change in working capital | -27.9 | -18.5 | 50.6 | 10.9 |
Financial items and taxes | -13.6 | -13.2 | 2.8 | -124.5 |
Cash flow from operations | 19.2 | 31.3 | -38.7 | 236.5 |
Cash flow from investments | -138.2 | 7.5 | -55.4 | |
Cash flow before financing | -119.0 | 38.9 | 181.1 | |
Cash flow from financing | 92.5 | -119.3 | -231.8 | |
Change in liquidities according to the cash flow statement | -26.4 | -80.5 | -67.1 | -50.7 |
Exchange rate differences under liquidities | 0.2 | 6.9 | -96.5 | 7.7 |
Net increase (+)/decrease (-) in liquidities | -26.2 | -73.6 | -64.4 | -43.0 |
Liquidities according to the balance sheet at 1 Jan. | 85.8 | 128.8 | -33.4 | 128.8 |
Liquidities according to the balance sheet at 31 March / 31 Dec. | 59.6 | 55.2 | 7.9 | 85.8 |