BORUSSIA DORTMUNDGmbH & Co. Kommanditgesellschaft auf Aktien, Dortmund CONSOLIDATED STATEMENT OF CASH FLOWS of Borussia Dortmund GmbH & Co. Kommanditgesellschaft auf Aktien, Dortmund EUR '000 Note 2020/2021 2019/2020 Profit before income taxes -73,152 -46,583 Depreciation, amortisation and write-downs of non-current assets (21) 111,043 106,130 Gain/loss on disposals of non-current assets -16,242 -45,692 Other non-cash expenses/income 286 -4,118 Transfer costs 1,286 7,488 Interest income (23) -287 -287 Interest expense (23) 1,427 3,731 Net income/loss from investments in associates (23) -81 1 Changes in other assets not classified as from investing or financing activities -95 807 Changes in other liabilities not classified as from investing or financing activities -6,811 -18,818 Interest paid -1,427 -3,326 Income taxes 0 305 Cash flows from operating activities 15,947 -362 Payments for investments in intangible assets -88,314 -152,736 Net proceeds from transfers 29,699 108,090 Payments for investments in property, plant and equipment -3,414 -6,205 Proceeds from disposals of property plant and equipment 1 62 Proceeds from financial assets 5 20 Dividends received 1 0 Cash flows from investing activities -62,022 -50,769 Proceeds from finance raised 56,900 0 Dividend payments (9) 0 -5,519 Repayment of lease liabilities -4,386 -3,929 Cash flows from financing activities 52,514 -9,448 Change in cash and cash equivalents 6,439 -60,579 Cash and cash equivalents at the beginning of the period -4,714 55,865 Cash and cash equivalents at the end of the period 1,725 -4,714 Definition of cash and cash equivalents Bank balances and cash-in-hand (7) 1,725 3,317 Utilisation of overdraft facilities 0 -8,031 Cash and cash equivalents at the end of the period 1,725 -4,714 178