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Annual report 2013

Consolidated statement of cash flows


€ million

Note

 

1 Jan.–31 Dec. 2014

1 Jan.–31 Dec. 2013

Cash flows from operating activities

    

Profit before tax

  

145.0

242.3

Adjustments

    
 

Depreciation according to plan

  

150.7

151.6

 

Finance income and costs

  

6.1

5.8

 

Other adjustments

31

 

63.3

8.2

    

220.1

165.6

Change in working capital

    
 

Current non-interest-bearing receivables, increase (-)/decrease (+)

  

31.7

89.1

 

Inventories increase (-)/decrease (+)

  

-6.9

2.9

 

Current non-interest-bearing liabilities, increase (+)/decrease (-)

  

-20.9

-1.3

    

3.9

90.7

      

Interest paid and other finance costs

  

-16.1

-21.8

Interest received

  

13.0

14.5

Dividends received

  

0.1

0.1

Income tax paid

  

-61.6

-77.5

Net cash generated from operating activities

  

304.4

413.8

      

Cash flows from investing activities

    

Acquisition of associate

  

0.0

-0.1

Purchases of tangible and intangible assets

  

-193.6

-173.2

Purchases of available-for-sale financial assets

  

0.0

-0.7

Sale of subsidiary, net of cash disposed of

  

0.3

-

Proceeds from disposal of tangible and intangible assets

  

10.8

21.8

Non-current loan and receivables, increase (-)/decrease (+)

  

0.3

0.2

Net cash used in investing activities

  

-182.1

-152.0

      

Cash flows from financing activities

    

Interest-bearing liabilities, increase (+)/decrease (-)

  

-44.8

-46.8

Repayments of finance lease liabilities

  

-1.0

-0.5

Interest-bearing receivables, increase (-)/decrease (+)

  

-0.5

77.6

Dividends paid

  

-143.4

-122.4

Proceeds from issuance of shares

  

2.1

19.6

Purchase of treasury shares

  

-16.1

-

Short-term money market investments, increase (-)/decrease (+)

  

-56.8

-90.6

Other items

  

6.8

4.6

Net cash used in financing activities

  

-253.6

-158.6

      

Change in cash and cash equivalents and current available-for-sale financial assets

  

-131.3

103.2

      

Cash and cash equivalents and current available-for-sale financial assets as at 1 Jan.

31

 

453.0

351.9

Currency translation difference adjustment and change in value

  

-8.4

-2.1

Cash and cash equivalents and current available-for-sale financial assets as at 31 Dec.

31

 

313.3

453.0