Annual Report 2014

Consolidated Statement of Cash Flows


EUR million

Note

2014

2013

Result for the financial period

 

-4.4

7.7

Adjustments:

   
 

Depreciation and amortization

9

86.0

92.1

 

Impairment losses

9

4.4

24.3

 

Gains on sale of intangible and tangible assets

4

-1.9

-6.6

 

Losses on sale of intangible and tangible assets

10

1.0

1.3

 

Financial income

11

-26.6

-25.2

 

Financial expense

11

33.1

35.6

 

Income tax

12

-0.2

-10.1

 

Other adjustments

 

3.6

-19.4

Cash flow before change in net working capital

 

95.0

99.6

     
 

Change in trade and other receivables

 

24.5

9.0

 

Change in inventories

 

2.3

-1.4

 

Change in trade payables and other liabilities

 

-13.1

-11.3

Change in net working capital

 

13.7

-3.6

     

Cash flow before financial items and income tax

 

108.6

95.9

     
 

Interests paid

 

-21.2

-20.6

 

Interests received

 

7.6

7.1

 

Other financial items

 

3.1

1.4

 

Income tax paid

 

-4.9

-2.4

Cash flow from financial items and income tax

 

-15.4

-14.6

     

Cash flow from operating activities

 

93.2

81.3

     

Purchase of intangible assets

 

-11.4

-6.2

Purchase of property, plant and equipment

 

-31.5

-34.6

Proceeds from sale of intangible and tangible assets

 

1.9

6.9

Business acquisitions

2

-3.6

0.0

Proceeds from sale of subsidiaries and business divestments less cash and cash equivalents

2

0.7

12.5

Financial assets at fair value through profit or loss

 

0.2

-29.8

Financial assets held to maturity

 

-12.0

-

Cash flow from other investments

 

9.5

2.0

Cash flow from investing activities

 

-46.3

-49.2

     

Repayment of current loans

31

-12.5

0.0

Increases in non-current loans

31

0.2

-

Repayment of non-current loans

 

-

-25.1

Repayment of finance lease liabilities

 

-10.9

-7.4

Financial assets held to maturity

24

-

0.3

Dividends paid

 

-

-6.8

Cash flow from financing activities

 

-23.2

-39.0

     

Change in cash and cash equivalents

 

23.7

-6.8

     

Cash and cash equivalents at the beginning of the period

26

81.0

90.3

Effect of changes in exchange rates

 

-5.9

-2.5

Cash and cash equivalents at the end of the period

26

98.7

81.0