Consolidated statement of cash flows

Cash flow from operating activities

Operating result

117.2

110.8

Adjusted for:

- Depreciation/amortization of (in)tangible fixed assets

6

84.6

76.4

- Impairment of fixed assets

10/12

-21.7

- Result from divestments of fixed assets

0.6

-9.1

- Share-based remuneration

4.1

4.8

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

67.6

72.1

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

184.8

182.9

Movement in provisions

-4.6

0.9

Movements in operating working capital:

- Trade receivables

4.7

-39.0

- Inventories

61.5

-90.4

- Trade payables

-41.9

14.6

Movements in other working capital

-6.1

3.8

Cash flow from business operations

198.4

72.8

Interest received

6.1

2.6

Interest paid

-27.4

-18.1

Tax paid on profit

-11.7

-18.3

Cash flow from operating activities

165.4

39.0

Cash flow from investment activities

Dividends received from joint ventures and associates

4.6

14.2

Investment other financial assets

-2.1

-1.0

Repayment other financial assets

12.7

Capital expenditure on (in)tangible fixed assets

-149.3

-235.8

Divestment of (in)tangible fixed assets

10.8

Cash flow from investment activities

-146.8

-199.1

Cash flow from financing activities

Proceeds from interest-bearing debts

46.0

236.0

Repayment of interest-bearing debts

-4.8

-2.7

Payment of lease liabilities

-13.4

-11.5

Settlement of derivatives

-14.9

Paid-out dividend

-33.1

-33.0

Cash flow from financing activities

-5.3

173.9

Net cash flow

13.3

13.8

Effects of exchange rate differences on cash and cash equivalents

-1.3

2.2

Increase/(decrease) cash and cash equivalents

12.0

16.0

Cash and cash equivalents at start of financial year

58.2

42.2