Consolidated Statement of Cash Flows 2018

IN EUR M

Jan 1 – Dec 31, 2018

Jan 1 – Dec 31, 2017

1.         Net income for the period

51.2

101.6

2.   +    Non-cash expenses from share-based payments

43.3

27.5

3.   +    Depreciation of property, plant and equipment and amortization of intangible assets

86.5

58.7

4. + / − Income taxes

54.4

73.6

5.   −    Income taxes paid, less refunds

–42.2

–49.4

6.  + / − Increase / decrease in provisions

0.3

–1.5

7.  − / + Other non-cash income / expenses

4.2

6.5

8.  + / − Decrease / increase in inventories

–40.6

–189.4

9.  + / − Decrease / increase in trade and other receivables

–116.4

–61.6

10. + / − Increase / decrease in trade payables and similar liabilities

180.6

198.4

11. + / − Increase / decrease in other assets / liabilities

–8.5

29.2

12.   =    Cash flow from operating activities

212.8

193.7

13.   +    Proceeds from disposal of non-current assets

58.9

0.0

14.   –    Cash paid for investments in property, plant and equipment

–226.1

–189.1

15.   −    Cash paid for investments in intangible assets

–52.3

–54.8

16.   −   Cash paid for acquisitions of  shares in  associated companies and acquisition of companies and prepayments for such acquisitions

–7.1

–34.9

17. + / − Cash received / paid for investments in term deposits

20.0

180.0

18. + / − Change in restricted cash

–0.4

10.4

19.   =    Cash flow from investing activities

–207.0

–88.3

20.   +    Cash received from capital increases by the shareholders less transaction costs

38.2

3.9

21.   −    Repurchase of treasury shares

–110.9

–6.7

22.   −    Payments for shares in other entities without change in control

–0.4

–4.6

23.   −    Cash repayments of loans

–2.8

–3.2

24.   =    Cash flow from financing activities

–75.9

–10.6

25.   =    Net change in cash and cash equivalents from cash relevant transactions

–70.1

94.8

26. + / − Change in cash and cash equivalents due to exchange rate movements

0.3

–1.9

27.   +    Cash and cash equivalents at the beginning of the period

1,064.7*

972.6

28.   =    Cash and cash equivalents as of Dec 31

995.0

1,065.5

 

*) Cash and cash equivalents at the beginning of the period include the effect from the initial application of IFRS 9 of EUR -0.8m. See section 3.5.3 New Accounting Standards in the Notes to the Consolidated Financial Statements in the 2018 annual report for details.