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Consolidated statements of cash flows - EUR (€)
€ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Profit/(loss) for the year € (24,906) € (33,680) € 33,119
Adjustments for:      
Depreciation 23,258 24,196 10,154
Amortization 907 917 910
Impairment of non-financial assets 2,450    
(Gain)/loss on sale of property, plant and equipment 1,049   (171)
Deferred income for capital grants (1,242) (1,626) (769)
Rent concessions (1,799)    
Interest expenses 5,962 5,930 3,796
Unrealised foreign exchange (gains)/losses (486) 525 174
(Gain) from loss of control in a former subsidiary     (75,411)
Share of (profit)/loss of equity-method investees (1,455) (1,011) 290
Tax expense 4,341 2,335 7,429
Total adjustment 32,985 31,266 (53,598)
Inventories 4,805 14,542 5,999
Trade and other receivables (7,059) 13,578 (3,678)
Other assets 1,088 (671) (1,675)
Trade and other payables 17,761 (9,490) 7,365
Contract liabilities 1,080 1,004 12,317
Provisions (703) (1,523) (3,694)
Other liabilities   1,273 1,119
One-time termination benefit payments (3,849) (3,812) (1,411)
Employees’ leaving entitlement (396) (1,676) (1,066)
Total changes 12,727 13,225 15,276
Cash provided by (used in) operating activities 20,806 10,811 (5,203)
Interest paid (4,684) (5,111) (3,033)
Income taxes paid (3,854) (1,048) (3,112)
Net cash provided by (used in) operating activities 12,268 4,652 (11,348)
Cash flows from investing activities:      
Additions (2,083) (3,805) (7,283)
Disposals 2,888 66 572
Intangible assets (792) (913) (878)
Government grants received for PPE   1,327  
Dividends from equity-accounted investees 2,335    
Disposal of a business, net of cash disposed of     22,156
Net cash provided by (used in) investing activities 2,348 (3,325) 14,567
Cash flows from financing activities:      
Proceeds 875 4,615  
Repayments (2,675) (5,980) (4,774)
Short-term borrowings 6,518 (11,190) 7,419
Payment of lease liabilities (9,907) (11,960)  
Dividends distribution to non-controlling interests (388)   (453)
Capital contribution by non-controlling interests   346  
Net cash provided by (used in) financing activities (5,577) (24,169) 2,192
Increase (decrease) in cash and cash equivalents 9,039 (22,842) 5,411
Cash and cash equivalents as at January 1 [1] 37,825 60,369 55,035
Effect of movements in exchange rates on cash held (788) 298 (77)
Cash and cash equivalents as at December 31 [1] € 46,076 € 37,825 € 60,369
[1] As at December 31, 2020, 2019 and 2018 cash and cash equivalents include bank overdrafts of 2,111, 1,974 and 1,762, respectively, that are repayable on demand and form an integral part of the Group’s cash management.