Consolidated statement of cash flows |
|
€ million |
Note |
1 Jan.–31 Dec. 2017 |
1 Jan.–31 Dec. 2016 |
Cash flows from operating activities |
|
|
|
Profit before tax |
|
327.6 |
145.2 |
Adjustments |
|
|
|
Depreciation according to plan |
|
139.2 |
137.6 |
Finance income and costs |
|
-1.5 |
1.0 |
Other adjustments |
2.8 |
-66.9 |
90.6 |
|
|
70.9 |
229.2 |
Change in working capital |
|
|
|
Current non-interest-bearing receivables, increase (-)/decrease (+) |
|
-73.0 |
-43.8 |
Inventories, increase (-)/decrease (+) |
|
-9.2 |
5.1 |
Current non-interest-bearing liabilities, increase (+)/decrease (-) |
|
29.2 |
-78.5 |
|
|
-53.0 |
-117.2 |
|
|
|
|
Interest paid and other finance costs |
|
-15.5 |
-17.0 |
Interest received |
|
16.1 |
14.1 |
Dividends received |
|
2.2 |
0.0 |
Income taxes paid |
|
-46.6 |
-84.1 |
Net cash flows from operating activities |
|
301.7 |
170.2 |
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
Payments for acquisition of subsidiary shares, net of cash acquired |
3.2 |
-0.5 |
-427.5 |
Payments to acquire equity accounted investments |
2.8 |
-1.6 |
- |
Payments for property, plant, equipment and intangible assets |
2.8 |
-319.9 |
-277.4 |
Proceeds from sale of business operations, net of cash disposed of |
3.2 |
143.9 |
160.9 |
Proceeds from sale of property, plant, equipment and intangible assets |
|
96.7 |
44.0 |
Proceeds from sale of available-for-sale financial assets |
|
0.1 |
0.4 |
Non-current loan and receivables, increase (-)/decrease (+) |
|
-7.0 |
-1.5 |
Net cash flows from investing activities |
|
-88.3 |
-501.1 |
|
|
|
|
Cash flows from financing activities |
|
|
|
Interest-bearing liabilities, increase (+)/decrease (-) |
2.8 |
5.2 |
63.0 |
Repayments of finance lease liabilities |
2.8 |
-5.4 |
-3.6 |
Interest-bearing receivables, increase (-)/decrease (+) |
2.8 |
0.3 |
2.0 |
Dividends paid |
|
-203.8 |
-249.5 |
Equity increase |
|
- |
12.6 |
Short-term money market investments, increase (-)/decrease (+) |
|
-36.4 |
364.5 |
Other items |
|
-2.9 |
6.5 |
Net cash flows from financing activities |
|
-242.9 |
195.6 |
|
|
|
|
Change in cash and cash equivalents and current available-for-sale financial assets |
|
-29.5 |
-135.3 |
|
|
|
|
Cash and cash equivalents and current available-for-sale financial assets as at 1 January |
2.8 |
200.8 |
334.1 |
Currency translation difference adjustment and change in value |
|
-1.1 |
2.1 |
Cash and cash equivalents and current available-for-sale financial assets as at 31 December |
2.8 |
170.2 |
200.8 |