v3.26.1
Consolidated statements of cash flows - EUR (€)
€ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Operating activities      
Net income € 164,763 € 189,608  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and impairment loss 462,942 394,363  
Change in deferred taxes, net (10,281) (30,487)  
(Gain) loss from the sale of fixed assets, right-of-use assets, investments and divestitures 8,771 62,972  
Income from equity method investees (41,322) (47,833)  
Interest expense, net 78,679 80,737  
Changes in assets and liabilities, net of amounts from businesses acquired:      
Trade accounts and other receivables from unrelated parties (385,888) (306,943)  
Inventories (146,781) (70,947)  
Other current and non-current assets 37,024 31,658  
Accounts receivable from related parties 3,710 13,802  
Accounts payable to related parties 19,284 50,322  
Accounts payable to unrelated parties, provisions and other current and non-current liabilities 88,891 (155,506)  
Income tax liabilities 25,723 52,590  
Received dividends from investments in equity method investees 788 561  
Paid interest (81,370) (83,579)  
Received interest 14,112 14,258  
Paid income taxes (12,158) (32,752)  
Net cash provided by (used in) operating activities 226,887 162,824  
Investing activities      
Purchases of property, plant and equipment and capitalized development costs (190,066) (145,760)  
Acquisitions, net of cash acquired, investments and purchases of intangible assets (4,665) (6,232)  
Investments in debt securities (70) (11,570)  
Proceeds from sale of property, plant and equipment 3,076 3,465  
Proceeds from divestitures, net of cash disposed 1,533 18,914  
Proceeds from sale of debt securities 20,713 32,942  
Net cash provided by (used in) investing activities (169,479) (108,241)  
Financing activities      
Proceeds from short-term debt from unrelated parties 126,698 92,113  
Repayments of short-term debt from unrelated parties (23,129) (605)  
Proceeds from long-term debt 46,232 14,096  
Repayments of long-term debt (9,841) (14,388)  
Repayments of lease liabilities from unrelated parties (154,548) (163,943)  
Repayments of lease liabilities from related parties (1,716) (6,282)  
Purchase of treasury stock (347,331)    
Distributions to noncontrolling interests (78,246) (64,409)  
Contributions from noncontrolling interests 5,795 4,630  
Net cash provided by (used in) financing activities (436,086) (138,788)  
Effect of exchange rate changes on cash and cash equivalents 18,710 (22,434)  
Cash and cash equivalents:      
Net increase (decrease) in cash and cash equivalents (359,968) (106,639)  
Cash and cash equivalents at beginning of period 1,599,113 1,185,328 € 1,185,328
Cash and cash equivalents at end of period € 1,239,145 1,078,689 € 1,599,113
Thereof: cash and cash equivalents within the disposal groups   € 7,401