Consolidated statement of cash flows
(In € million) |
|
Note |
|
Year ended |
|
Year ended |
---|---|---|---|---|---|---|
Cash flows from operating activities |
|
|
|
|
|
|
Profit for the period |
|
|
|
172.1 |
|
68.0 |
Adjustments for: |
|
|
|
|
|
|
Depreciation and amortisation |
|
|
306.6 |
|
277.7 |
|
Impairment losses |
|
|
4.4 |
|
43.9 |
|
Change in fair value of derivatives |
|
|
|
(7.4) |
|
(23.2) |
Share-based payment expense |
|
|
3.8 |
|
3.2 |
|
Gain on sale of property, plant and equipment and |
|
|
|
(0.8) |
|
(0.2) |
Loss on sale of subsidiary |
|
|
12.1 |
|
– |
|
Gain on pre-existing interest in former joint ventures |
|
|
(48.8) |
|
– |
|
Share of loss/(profit) of joint ventures |
|
|
1.6 |
|
(17.4) |
|
Net finance expense |
|
|
31.4 |
|
81.0 |
|
Interest paid |
|
|
|
(40.6) |
|
(39.0) |
Payment of transaction and other costs relating to financing |
|
|
– |
|
(15.4) |
|
Income tax expense |
|
|
52.3 |
|
23.0 |
|
Income taxes paid, net of refunds received |
|
|
|
(73.0) |
|
(76.2) |
|
|
|
|
413.7 |
|
325.4 |
Change in trade and other receivables |
|
|
|
(4.0) |
|
32.6 |
Change in inventories |
|
|
|
(9.4) |
|
(11.8) |
Change in trade and other payables |
|
|
|
62.5 |
|
26.9 |
Change in provisions and employee benefits |
|
|
|
14.9 |
|
12.9 |
Change in other assets and liabilities |
|
|
|
53.2 |
|
39.8 |
Net cash from operating activities |
|
|
530.9 |
|
425.8 |
|
Cash flows from investing activities |
|
|
|
|
|
|
Acquisition of business, net of cash acquired |
|
|
(63.6) |
|
(2.5) |
|
Sale of subsidiary, net of cash disposed of |
|
|
3.1 |
|
– |
|
Acquisition of property, plant and equipment and intangible assets |
|
|
(245.9) |
|
(199.2) |
|
Proceeds from sale of property, plant and equipment and other assets |
|
|
|
1.1 |
|
0.7 |
Dividends received from joint ventures |
|
|
– |
|
22.7 |
|
Interest received |
|
|
|
1.5 |
|
2.1 |
Net cash used in investing activities |
|
|
|
(303.8) |
|
(176.2) |
Cash flows from financing activities |
|
|
|
|
|
|
Proceeds from loans and borrowings |
|
|
100.0 |
|
1,550.0 |
|
Repayment of loans and borrowings |
|
|
(239.5) |
|
(1,560.9) |
|
Payment of lease liabilities |
|
|
(26.7) |
|
(16.1) |
|
Purchase of treasury shares |
|
|
(0.7) |
|
(0.6) |
|
Payment of dividends |
|
|
(128.1) |
|
(114.8) |
|
Other |
|
|
|
1.4 |
|
1.1 |
Net cash used in financing activities |
|
|
|
(293.6) |
|
(141.3) |
Net (decrease)/increase in cash and cash equivalents |
|
|
|
(66.5) |
|
108.3 |
Cash and cash equivalents as of the beginning of the period |
|
|
|
355.1 |
|
261.0 |
Effect of exchange rate fluctuations on cash and cash equivalents |
|
|
|
15.9 |
|
(14.2) |
Cash and cash equivalents as of the end of the period |
|
|
304.5 |
|
355.1 |