Statement of cash flows

Statement of cash flows
(€m) 2010 2009 3
Opening – net cash and cash equivalents 179.7 192.0
Cash flow from continuing operations  
 
Pretax profit and net financial expense
for the period
254.7 224.2
Amortisation, depreciation and impairment
losses on non–current assets, net of reversals
350.2 339.8
Adjustment and (gains)/losses on
disposal of financial assets
0.5 0.1
(Gains)/losses on disposal of
non–current assets
(0.2) (15.1)
Change in working capital in the year 1
64.8 35.7
Net change in non–current
non–financial assets and liabilities
(24.1) (35.0)
Cash flow from operating activities 645.9 549.8
Taxes paid (79.6) (91 .1)
Interest paid (74.6) (107.9)
Net cash flow from operating activities 491.7 350.8
Acquisition of property, plant and
equipment and intangible assets
(224.9) (150.3)
Proceeds from sale of non–current assets 5.8 27.6
Disposal of consolidated equity investments 165.4
Net change in non–current financial assets (5.1) 4.9
Net cash flow used from investing
activities
(58.9) (117.8)
(Repayments)/issues of bond (32.5)
Repayments of medium/long–term
loans, net of new loans
(286.8) (173.2)
Repayments of short–term loans,
net of new loans
(145.7) (93.7)
Other cash flows 2
(1 .3) (6.4)
Net cash flow used in financing activities (466.4) (273.3)
Cash flow for the year from
continuing operations
(33.5) (40.2)
Cash flow from
discontinued operations
 
 
Net cash flow from operating
activities of discontinued operations
28.4 42.7
Cash flow used in investing
activities of discontinued operations
(13.6) (7.3)
Cash flow used in financing
activities of discontinued operations
(9.5) (9.4)
Cash flow for the year from
discontinued operations
5.3 26.0
Effect of exchange on
net cash and cash equivalents
5.4 1 .9
Closing – net cash and cash equivalents 156.9 179.7
Reconciliation of net cash and cash equivalents
(€m) 2010 20093
Opening – net cash and cash equivalents –
balance as at 31 December 2009 and as at 31 December 2008
179.7 192.0
Cash and cash equivalents 194.1 209.5
Current account overdrafts (14.4) (17.5)
Closing – net cash and cash equivalents –
balance as at 31 December 2010 and as at 31 December 2009
156.9 179.7
Cash and cash equivalents 176.1 194.1
Current account overdrafts (19.3) (14.4)
1 Including the exchange rate gains (losses) on income statements components 2 Including dividends paid to non–controlling interests in subsidiaries 3 Please refer to Section 2.2.2 for the description of adjustments made to the 2009 figures since their original publication