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Consolidated statement of cash flows

Millions of euros

Note

2021

2020

Cash flow from operating activities

   

Operating result

 

82.0

104.1

Adjusted for:

   

- Depreciation/amortization of (in)tangible fixed assets

6

64.1

60.3

- Impairment of fixed assets

10/12

25.3

1.3

- Result from divestments of fixed assets

 

-17.9

0.1

- Other adjustments for which cash effects are investing or financing cash flow
- 2021: Sale Frozen Dough activities
- 2020: Remeasurement sales price Total Corbion PLA (Thailand)

6

-11.8

-12.9

- Share-based remuneration

 

3.5

3.9

Total adjustments to reconcile operating result with net cash generated by (used for) operating activities

 

63.2

52.7

Cash flow from operating activities before movements in working capital and provisions

 

145.2

156.8

Movement in provisions

 

-6.4

-1.1

Movements in operating working capital:

   

- Trade receivables

 

-33.2

-10.7

- Inventories

 

-54.4

-17.2

- Trade payables

 

25.7

13.5

Movements in other working capital

 

-17.9

-12.1

Cash flow from business operations

 

59.0

129.2

Interest received

 

1.9

1.3

Interest paid

 

-13.0

-10.8

Tax paid on profit

 

-25.5

-10.7

Cash flow from operating activities

 

22.4

109.0

    

Cash flow from investment activities

   

Acquisition of group companies

26

-9.3

 

Dividends received from joint ventures and associates

 

4.3

4.4

Investment other financial assets

 

-0.7

-0.1

Repayment other financial assets

 

6.2

7.6

Capital expenditure on (in)tangible fixed assets

 

-148.7

-88.9

Divestment of businesses

 

20.4

 

Divestment of (in)tangible fixed assets

 

8.4

0.1

Cash flow from investment activities

 

-119.4

-76.9

    

Cash flow from financing activities

   

Proceeds from interest-bearing debts

 

132.0

145.7

Repayment of interest-bearing debts

 

-2.9

-125.9

Payment of lease liabilities

 

-10.2

-10.7

Paid-out dividend

 

-33.0

-33.0

Cash flow from financing activities

 

85.9

-23.9

Net cash flow

 

-11.1

8.2

Effects of exchange rate differences on cash and cash equivalents

 

1.7

-2.3

Increase/(decrease) cash and cash equivalents

 

-9.4

5.9

Cash and cash equivalents at start of financial year

 

51.6

45.7

Cash and cash equivalents at close of financial year

17

42.2

51.6