Consolidated Statement of Cash Flow (IFRS)

(EUR million)

Year ended 31 December
Note 2012 2011
CASH FLOW FROM OPERATING ACTIVITIES
Net profit for the period 21.5 140.3
Adjustments for
Depreciation, amortization and impairment 6, 11, 12, 13 146.8 101.3
Income taxes 9 5.7 28.1
Finance expenses, net 7 15.7 20.9
Share of profit or loss of associates 8 -11.2 -31.0
Other non-cash income and expenses not involving cash flow 40.8 -27.0
Operating profit before change in working capital 219.3 232.6
Change in working capital
Increase (-) / decrease (+) in inventories 26.3 -24.6
Increase (-) / decrease (+) in trade and other receivables 17.2 -35.5
Increase (+) / decrease (-) in trade payables and other liabilities -64.6 57.4
Change in working capital -21.1 -2.7
Cash generated from operations 198.2 229.9
Interest and other finance cost paid -28.7 -34.1
Interest and other finance income received 8.0 7.5
Realized exchange gains and losses 13.4 10.5
Dividends received 15.6 1.3
Income taxes paid -30.2 -37.4
Net cash generated from operating activities 176.3 177.7
CASH FLOW FROM INVESTING ACTIVITIES
Purchases of available-for-sale financial assets -0.4 -102.8
Purchases of property, plant, equipment and intangible assets -133.7 -98.3
Change in long-term loan receivables decrease (+) / increase (-) -0.2 1.6
Proceeds from sale of subsidiaries, net of cash disposed 26 0.0 1.7
Paid-in-capital from associates 26.8 11.7
Proceeds from sale of available-for-sale financial assets 0.0 96.9
Proceeds from sale of property, plant and equipment 3.0 26.8
Net cash used in investing activities -104.5 -62.4
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from non-current interest-bearing liabilities (+) 1.6 16.0
Repayment from non-current interest-bearing liabilities (-) -81.5 -103.3
Short-term financing, net increase (+) / decrease (-) 43.3 154.6
Dividends paid -85.1 -77.8
Purchases of non-controlling interests 0.0 -13.2
Other finance items -0.9 -0.5
Net cash used in financing activities -122.6 -24.2
Net decrease (-) / increase (+) in cash and cash equivalents -50.8 91.1
Cash and cash equivalents at end of period 132.7 185.8
Exchange gains (+) / losses (-) on cash and cash equivalents 2.3 -2.9
Cash and cash equivalents at beginning of the period 185.8 91.8
Net decrease (-) / increase (+) in cash and cash equivalents -50.8 91.1
The notes are an integral part of these Consolidated Financial Statements.