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Consolidated statements of cash flows - EUR (€)
€ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Profit/(loss) for the year € 4,385 € (24,906) € (33,680)
Adjustments for:      
Depreciation 20,281 23,258 24,196
Amortization 1,090 907 917
Impairment of non-financial assets 1,188 2,450  
(Gain)/loss on sale of property, plant and equipment (2,084) 1,049  
Deferred income for capital grants (1,306) (1,242) (1,626)
Rent concessions (1,515) (1,799)  
Interest expenses 4,717 5,962 5,930
Unrealised foreign exchange (gains)/losses 454 (486) 525
(Gain) from loss of control in a former subsidiary (5,026)    
Share of (profit)/loss of equity-method investees (3,561) (1,455) (1,011)
Tax expense 4,389 4,341 2,335
Total adjustment 18,627 32,985 31,266
Inventories (16,000) 4,805 14,542
Trade and other receivables (5,847) (7,059) 13,578
Other assets (2,690) 1,088 (671)
Trade and other payables 13,055 17,761 (9,490)
Contract liabilities 4,019 1,080 1,004
Provisions (4,608) (703) (1,523)
Other liabilities     1,273
One-time termination benefit payments (275) (3,849) (3,812)
Employees’ leaving entitlement (940) (396) (1,676)
Total changes (13,286) 12,727 13,225
Cash provided by (used in) operating activities 9,726 20,806 10,811
Interest paid (4,966) (4,684) (5,111)
Income taxes paid (4,223) (3,854) (1,048)
Net cash provided by (used in) operating activities 537 12,268 4,652
Cash flows from investing activities:      
Additions (3,515) (2,083) (3,805)
Disposals 4,511 2,888 66
Intangible assets (1,476) (792) (913)
Government grants received for PPE 507   1,327
Dividends from equity-accounted investees 1,744 2,335  
Purchase of business, net of cash acquired (270)    
Disposal of a business, net of cash disposed of 5,515    
Net cash provided by (used in) investing activities 7,016 2,348 (3,325)
Cash flows from financing activities:      
Proceeds 5,873 875 4,615
Repayments (4,788) (2,675) (5,980)
Short-term borrowings 6,210 6,518 (11,190)
Payment of lease liabilities (10,090) (9,907) (11,960)
Dividends distribution to non-controlling interests (545) (388)  
Capital contribution by non-controlling interests 1,324   346
Net cash provided by (used in) financing activities (2,016) (5,577) (24,169)
Increase (decrease) in cash and cash equivalents 5,537 9,039 (22,842)
Cash and cash equivalents as at January 1 [1] 46,076 37,825 60,369
Effect of movements in exchange rates on cash held 636 (788) 298
Cash and cash equivalents as at December 31 [1] € 52,249 € 46,076 € 37,825
[1] As at December 31, 2021, 2020 and 2019 cash and cash equivalents include bank overdrafts of 1,223, 2,111 and 1,974, respectively, that are repayable on demand and form an integral part of the Group’s cash management.