Frontpage Financial Statements Consolidated income statement Consolidated statement of cash flows

Consolidated statement of cash flows

€ million Note 2011 2010
       
Cash flow from operating activities      
Profit before tax   282.1 312.4
       
Adjustments:      
Depreciation according to plan   124.8 116.3
Finance income and costs   -0.7 -6.0
Other adjustments 37 -6.5 96.8
    117.6 207.1
Change in working capital      
Current non-interest-bearing receivables, increase (-) / decrease (+)   -89.0 -15.4
Inventories increase (-) / decrease (+)   -118.9 -82.4
Current non-interest-bearing liabilities, increase (+) / decrease (-)   126.7 152.7
    -81.2 54.8
       
Interest paid and other finance costs   -16.0 -19.5
Interest received   22.0 15.6
Dividends received   0.1 0.1
Income tax paid   -109.0 -132.3
Net cash generated from operating activities   215.7 438.1
       
Cash flows from investing activities      
Acquisition of subsidiaries, net of cash acquired   -20.7 -
Acquisition of associate   0.0 -33.9
Purchases of tangible and intangible assets   -427.1 -328.4
Purchases of available-for-sale financial assets   -1.1 -4.7
Disposal of subsidiary, net of cash disposed of   - 1.9
Proceeds from disposal of available-for-sale financial assets   0.0 0.5
Proceeds from disposal of tangible and intangible assets   8.2 121.1
Increase in non-current loan and receivables   -0.4 -
Decrease in non-current loan and receivables   - 3.9
Net cash used in investing activities   -441.1 -239.6
       
Cash flows from financing activities      
Increase (+) / decrease (-) in interest-bearing liabilities   -55.5 39.9
Repayments of finance lease obligations   -2.7 -0.4
Increase (-) / decrease (+) in current interest-bearing receivables   -37.3 11.0
Dividends paid   -132.9 -106.2
Proceeds from issuance of shares   0.1 4.2
Purchase of treasury shares   -22.9 -
Increase (-) / decrease (+) in short-term money market investments   199.4 -114.2
Other items   0.5 -15.3
Net cash used in financing activities   -51.2 -181.0
       
Change in cash and cash equivalents and current available-for-sale financial assets   -276.6 17.5
       
Cash and cash equivalents and current available-for-sale financial assets at 1 Jan. 38 509.4 491.4
Currency translation difference adjustment and change in fair value   -2.0 0.4
Cash and cash equivalents and current available-for-sale financial assets at 31 Dec. 38 230.8 509.4