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Consolidated statements of cash flows - EUR (€)
€ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Profit/(loss) for the year € (16,162) € 1,288 € 4,385
Adjustments for:      
Depreciation 21,331 20,619 20,281
Amortization 1,041 1,031 1,090
Impairment of non-financial assets   890 1,188
(Gain)/loss on sale of property, plant and equipment 117 (39) (2,084)
Deferred income for capital grants (1,648) (1,473) (1,306)
Rent concessions   (635) (1,515)
Interest expenses 7,111 6,474 4,717
Unrealised foreign exchange (gains)/losses 748 (1,454) 454
(Gain) from loss of control in a former subsidiary     (5,026)
Share of (profit)/loss of equity-method investees (2,897) (356) (3,561)
Tax expense 1,090 2,273 4,389
Total adjustment 26,893 27,330 18,627
Inventories 8,033 10,091 (16,000)
Trade and other receivables 7,332 (1,242) (5,847)
Other assets 2,457 4,302 (2,690)
Trade and other payables (14,205) (7,758) 13,055
Contract liabilities 2,983 (4,052) 4,019
Provisions (1,412) (865) (4,608)
One-time termination benefit payments (3,050) (42) (275)
Employees’ leaving entitlement (1,402) (446) (940)
Total changes 736 (12) (13,286)
Cash provided by (used in) operating activities 11,467 28,606 9,726
Interest paid (5,641) (5,696) (4,966)
Income taxes paid (2,616) (4,203) (4,223)
Net cash provided by (used in) operating activities 3,210 18,707 537
Cash flows from investing activities:      
Additions (10,299) (8,432) (3,515)
Disposals   624 4,511
Intangible assets (1,519) (1,174) (1,476)
Government grants received for PPE 918   507
Dividends from equity-accounted investees 3,024 3,697 1,744
Purchase of business, net of cash acquired   (461) (270)
Disposal of a business, net of cash disposed of   1,100 5,515
Net cash provided by (used in) investing activities (7,876) (4,646) 7,016
Cash flows from financing activities:      
Proceeds 10,912 4,038 5,873
Repayments (8,715) (4,473) (4,788)
Short-term borrowings (6,703) (7,424) 6,210
Payment of lease liabilities (11,057) (10,049) (10,090)
Proceeds from increase in share capital   55  
Dividends distribution to non-controlling interests (135) (551) (545)
Capital contribution by non-controlling interests   4,870 1,324
Net cash provided by (used in) financing activities (15,698) (13,534) (2,016)
Increase (decrease) in cash and cash equivalents (20,364) 527 5,537
Cash and cash equivalents as at January 1 [1] 52,721 52,249 46,076
Effect of movements in exchange rates on cash held (784) (55) 636
Cash and cash equivalents as at December 31 [1] € 31,573 € 52,721 € 52,249
[1] As at December 31, 2023, 2022 and 2021 cash and cash equivalents include bank overdrafts of 2,037, 1,754 and 1,223, respectively, that are repayable on demand and form an integral part of the Group’s cash management.