Year 2017

Consolidated Statement of Cash Flows

 

EUR million

Note

2017

2016

2015, restated

Result for the period

 

-44.3

23.2

35.1

Adjustments for:

       
 

Depreciation and amortization

7

75.8

79.3

80.5

 

Impairment losses

7

35.4

6.1

11.9

 

Gains on sale of intangible and tangible assets

3

-3.6

-16.1

-46.4

 

Losses on sale of intangible and tangible assets

6

8.3

0.5

1.5

 

Finance income

8

-3.8

-10.9

-13.9

 

Finance expense

8

12.3

13.9

25.7

 

Income tax

9

7.4

6.3

7.2

 

Other non-cash items

 

12.8

-9.8

8.2

Cash flow before change in net working capital

 

100.4

92.6

109.8

           
 

Change in trade and other receivables

15

-24.2

-12.7

2.4

 

Change in inventories

14

-0.8

0.9

0.2

 

Change in trade and other payables

20

29.1

7.9

-20.1

Change in net working capital

 

4.1

-3.9

-17.5

           

Cash flow before financial items and income tax

 

104.4

88.7

92.4

           
 

Interests paid

8

-7.4

-12.5

-15.6

 

Interests received

8

2.9

7.7

7.0

 

Other financial items

8

0.8

-2.1

1.0

 

Income tax paid

9

-4.7

-18.7

-3.0

Cash flow from financial items and income tax

 

-8.4

-25.6

-10.6

Cash flow from operating activities

 

96.0

63.1

81.9

           

Purchase of intangible assets

10

-13.2

-14.5

-17.7

Purchase of property, plant and equipment

12

-54.4

-40.9

-34.7

Proceeds from sale of intangible and tangible assets

10, 12

7.4

69.7

122.2

Business acquisitions, net of cash acquired

2

-9.4

-36.8

-3.5

Proceeds from business disposals less cash and cash equivalents

2

-7.1

8.4

14.2

Financial assets at fair value through profit or loss

21

39.3

48.6

-42.0

Financial assets held to maturity

21

15.0

40.3

-83.0

Cash flow from other investments

 

2.0

2.0

4.0

Cash flow from investing activities

 

-20.4

76.7

-40.4

           

Increases in current loans

21

39.9

-

4.3

Repayment of current loans

21

-99.9

-159.1

-

Increases in non-current loans

21

60.3

-

-

Finance lease payments

21

-12.7

-11.6

-12.2

Dividends paid

 

-60.0

-18.0

-

Transactions with non-controlling interests

 

1.5

-

-

Cash flow from financing activities

 

-70.9

-188.6

-8.0

           

Change in cash and cash equivalents

 

4.7

-48.9

33.4

           

Cash and cash equivalents at the beginning of the period

 

82.0

130.1

98.7

Effect of exchange rates changes

 

-0.7

0.8

-0.3

Cash and cash equivalents included in assets classified held for sale

16

-

-

-1.8

Cash and cash equivalents at the end of the period

 

86.0

82.0

130.1