Consolidated Statement of Cash Flows

(EUR thousand)	Q1 2009	Q1 2008
Profit after taxes	64,253	69,011
Depreciation/write-ups	92,175	81,548
Changes in provisions	(68,902)	7,784
Changes in deferred taxes	8,394	6,385
Net gain from disposals of fixed assets and marketable securities	821	(6,371)
Other non-cash income and expenses (primarily equity valuation) and deconsolidations	(17,523)	(32,141)
Changes in working capital (net current assets)	(346,195)	(315,247)
Changes in other balance sheet items	(1,091)	(995)
Net cash used in operating activities	(268,067)	(190,026)
Intangible assets, property, plant and equipment, and investment properties
Purchases	(157,077)	(164,695)
Proceeds from asset disposals	10,901	46,750
Acquisitions and participating interests
Purchases	(23,084)	(167,824)
Proceeds from asset disposals/divestments	10,179	-
Changes in securities holdings and liquid investments	(11,709)	(67,487)
Net cash used in investing activities	(170,790)	(353,256)
Payments for repurchase of treasury stock	-	(3,488)
Payments into equity by minority shareholders	9,309	-
Dividends to minority shareholders	(42,798)	(44,476)
Proceeds from new borrowing	254,547	697,063
Service of debt	(116,057)	(103,897)
Net cash provided by financing activities	105,001	545,202
Net cash decrease in cash and cash equivalents	(333,856)	1,920
Effect of exchange rate changes	59,358	(65,877)
Overall change in cash and cash equivalents	(274,498)	(63,957)
Cash and cash equivalents at the start of the year	1,787,713	1,402,527
Cash and cash equivalents at end of reporting period	1,513,215	1,338,570