Consolidated Statement of Cash Flows

T.04 Consolidated Statement of Cash Flows

		2020	2019
	Notes	€ million	€ million
Operating activities
Earnings before taxes (EBT)		162.3	417.6
Adjustments for:
Depreciation and impairment	9, 10, 11	293.8	246.4
Non-realized currency gains/losses, net		26.3	1.9
Financial income	21	-35.4	-15.3
Financial expenses	21	78.4	48.4
Changes from the sale of fixed assets		2.4	2.1
Changes to pension provisions	15	-1.0	-1.2
Other non-cash effected expenses/income		-4.0	5.0
Gross cash flow	26	522.8	704.8
Changes in receivables and other current assets	5, 6, 7	-50.0	-69.8
Changes in inventories	4	-109.7	-188.8
Changes in trade payables and other current liabilities	13	147.7	214.1
Net cash from operational business activities		510.8	660.3
Dividends received	12	0.0	0.3
Income taxes paid	22	-89.3	-111.8
Net cash from operating activities	26	421.5	548.8

		2020	2019
	Notes	€ million	€ million
Investing activities
Payment for acquisitions	17	0.0	-1.2
Purchase of property and equipment	9, 11	-151.0	-218.4
Proceeds from sale of property and equipment		1.6	2.3
Payment for other assets	12	-4.5	-6.0
Interest received	21	8.4	4.5
Net cash used in investing activities		-145.5	-218.7

Financing activities
Repayment of lease liabilities	10	-135.0	-140.8
Repayment of current financial liabilities	13	0.0	-10.4
Raising of current financial liabilities	13	112.5	0.0
Repayment of non-current financial liabilities	13	-18.3	-7.1
Dividend payments to equity holders of the parent	17	0.0	-52.3
Dividend payments to non-controlling interests	17, 29	-45.6	-18.6
Interest paid	21	-43.0	-43.6
Net Cash used in financing activities	26	-129.2	-272.9

Exchange rate-related changes in cash and cash equivalents		-8.9	-2.8
Change in cash and cash equivalents		137.8	54.3
Cash and cash equivalents at beginning of the financial year		518.1	463.7
Cash and cash equivalents at end of the financial year	3, 26	655.9	518.1