Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

Consolidated statement of cash flows

v3.25.1
Consolidated statement of cash flows - EUR (€)
€ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Cash generated from/(used in) operations € 48,909 € (30,681) € (95,704)
Interest paid (33,498) (14,792) (9,224)
Interest received 2,326 1,156 0
Proceeds from settlement of interest cap derivatives 0 0 1,071
Payment of interest cap derivative premiums 0 0 (4,068)
Income taxes received/(paid) (1,315) (852) (424)
Net cash flows from/(used in) operating activities 16,421 (45,169) (108,349)
Cash flows from investing activities      
Acquisition of Mega-E, net of cash acquired 0 0 (9,720)
Acquisition of MOMA, net of cash acquired 0 0 (58,644)
Purchase of property, plant and equipment (56,543) (69,060) (25,581)
Proceeds from sale of property, plant and equipment 0 0 45
Purchase of intangible assets (31) 0 (1,572)
Proceeds from government grants 1,392 137 512
Other cash flows used in investing activities 170 17 0
Net cash flows from/(used in) investing activities (55,012) (68,906) (94,960)
Cash flows from financing activities      
Proceeds from borrowings 164,851 82,400 159,210
Repayment of borrowings 0 0 (23,403)
Payment of principal portion of lease liabilities (7,362) (4,692) (5,227)
Payment of transaction costs on new equity instruments 0 (498) (925)
Payment of transaction costs on borrowings (2,564) (1,576) (10,751)
Net cash flows from/(used in) financing activities 154,926 75,634 261,673
Net increase/(decrease) in cash and cash equivalents 116,335 (38,441) 58,364
Cash and cash equivalents at the beginning of the year 44,585 83,022 24,652
Effect of exchange rate changes on cash and cash equivalents (1) 4 6
Cash and cash equivalents at the end of the year 160,919 44,585 83,022
Spartan Shareholders      
Cash flows from financing activities      
Proceeds from issuing equity instruments 0 0 10,079
PIPE financing      
Cash flows from financing activities      
Proceeds from issuing equity instruments € 0 € 0 € 132,690