The cash flow from operating activities amounted to € 11.3 million in 2022 (2021: € 17.8 million). The decrease in operating cash flow of € 6.5 million (2021: increase of € 5.7 million) is on the one hand attributable to a higher net revenue result of € 11.3 million (2021: € 16.1 million), a higher depreciation of € 3.7 million (2021: € 1.0 million) and an increase in other changes in the fixed assets of € 6.0 million. On the other hand, it is negatively influenced by an increase in capital absorbed in the working capital of in total € 27.6 million (2021: € 5.2 million), largely related to higher zinc and steel prices for inventory items and lower short-term debt in addition to the € 7.2 million increase in paid corporate taxes.

The cash flow from investment activities shows a decrease of € 17.4 million (2021: increase of € 28.5 million), mainly explained by the investment in Prestia in 2021 and an increase in investments of € 4.5 million in 2022 compared to 2021 (2021: € 5.7 million compared to 2020).

The cash flow from financing activities is minus € 8.4 million (2021: plus € 27.6 million). In 2022, € 8.2 million was repaid on long-term debt compared to the € 23.1 increase in debt in connection with the acquisition of Prestia in 2021. No dividend was paid in 2022.

The financial position and the operating cash flow are sufficient to continue activities without additional financing. ROTO amply complies with the agreements made with credit institutions.

Cash flows (in € 1,000)