Annual report 2016

Consolidated Statement of Cash Flows

 

EUR million

Note

2016

2015, restated

2014, restated

Result for the period

 

23.2

35.1

1.8

Adjustments for:

       
 

Depreciation and amortization

7

79.3

80.5

86.0

 

Impairment losses

7

6.1

11.9

4.4

 

Gains on sale of intangible and tangible assets

3

-16.1

-46.4

-1.9

 

Losses on sale of intangible and tangible assets

3

0.5

1.5

1.0

 

Finance income

8

-10.9

-13.9

-26.6

 

Finance expense

8

13.9

25.7

33.1

 

Income tax

9

6.3

7.2

1.4

 

Other non-cash items

 

-9.8

8.2

-4.1

Cash flow before change in net working capital

 

92.6

109.8

95.1

           
 

Change in trade and other receivables

 

-12.7

2.4

25.1

 

Change in inventories

 

0.9

0.2

2.3

 

Change in trade and other payables

 

7.9

-20.1

-13.9

Change in net working capital

 

-3.9

-17.5

13.5

           

Cash flow before financial items and income tax

 

88.7

92.4

108.6

           
 

Interests paid

 

-12.5

-15.6

-21.2

 

Interests received

 

7.7

7.0

7.6

 

Other financial items

 

-2.1

1.0

3.1

 

Income tax paid

 

-18.7

-3.0

-4.9

Cash flow from financial items and income tax

 

-25.6

-10.6

-15.4

Cash flow from operating activities

 

63.1

81.9

93.2

           

Purchase of intangible assets

 

-14.5

-17.7

-11.4

Purchase of property, plant and equipment

 

-40.9

-34.7

-31.5

Proceeds from sale of intangible and tangible assets

 

69.7

122.2

1.9

Business acquisitions, net of cash acquired

2

-36.8

-3.5

-3.6

Proceeds from business disposals less cash and cash equivalents

2

8.4

14.2

0.7

Financial assets at fair value through profit or loss

 

48.6

-42.0

0.2

Financial assets held to maturity

 

40.3

-83.0

-12.0

Cash flow from other investments

 

2.0

4.0

9.5

Cash flow from investing activities

 

76.7

-40.4

-46.3

           

Increases in current loans

 

-

4.3

-

Repayment of current loans

21

-159.1

-

-12.5

Increases in non-current loans

 

-

-

0.2

Finance lease payments

22

-11.6

-12.2

-10.9

Dividends paid

 

-18.0

-

-

Cash flow from financing activities

 

-188.6

-8.0

-23.2

           

Change in cash and cash equivalents

 

-48.9

33.4

23.7

           

Cash and cash equivalents at the beginning of the period

21

130.1

98.7

81.0

Effect of exchange rates changes

 

0.8

-0.3

-5.9

Cash and cash equivalents included in assets classified held for sale

 

-

-1.8

-

Cash and cash equivalents at the end of the period

21

82.0

130.1

98.7