Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated statement of cash flows

v3.23.1
Consolidated statement of cash flows
€ in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2022
EUR (€)
Dec. 31, 2021
EUR (€)
Dec. 31, 2020
EUR (€)
Cash flows from operating activities      
Cash generated from/(used in) operations € (95,704) € (2,921) € (29,926)
Interest paid (9,224) (5,996) (4,508)
Proceeds from settlement of interest cap derivatives 1,071 0 0
Payment of interest cap derivative premiums (4,068) 0 0
Income taxes received/(paid) (424) (296) 0
Net cash flows from/(used in) operating activities (108,349) (9,213) (34,434)
Cash flows from investing activities      
Acquisition of Mega-E, net of cash acquired (9,720) 0 0
Acquisition of MOMA, net of cash acquired (58,644) 0 0
Purchase of property, plant and equipment (25,581) (9,983) (17,006)
Proceeds from sale of property, plant and equipment 45 1,207 1,353
Purchase of intangible assets (1,572) (6,793) (2,787)
Proceeds from investment grants 512 1,702 3,181
Payment of purchase options derivative premiums 0 (1,500) 0
Net cash flows from/(used in) investing activities (94,960) (15,367) (15,259)
Cash flows from financing activities      
Proceeds from borrowings 159,210 44,315 38,339
Repayment of borrowings (23,403) 0 0
Payment of principal portion of lease liabilities (5,227) (3,215) (1,658)
Payment of transaction costs on new equity instruments (925) (134) 0
Payment of transaction costs on borrowings (10,751) 0 0
Net cash flows from/(used in) financing activities 261,673 40,966 36,681
Net increase/(decrease) in cash and cash equivalents 58,364 16,386 (13,012)
Cash and cash equivalents at the beginning of the year 24,652 8,274 21,277
Effect of exchange rate changes on cash and cash equivalents 6 (8) 9
Cash and cash equivalents at the end of the year 83,022 24,652 8,274
Spartan Shareholders      
Cash flows from financing activities      
Proceeds from issuing equity instruments 10,079 0 0
PIPE Financing      
Cash flows from financing activities      
Proceeds from issuing equity instruments € 132,690 € 0 € 0