| Consolidated Statement of Cash Flows | |||||
|---|---|---|---|---|---|
| IN EUR M | Notes | Jan 1 – Dec 31, 2017 | Jan 1 – Dec 31, 2016 | ||
| 1. | Net income for the period | 101.6 | 120.5 | ||
| 2. | + | Non-cash expenses from share-based payments | (20.) | 27.5 | 19.9 |
| 3. | + | Depreciation of property, plant and equipment and amortization of intangible assets | (11.), (12.) | 58.7 | 48.2 |
| 4. | +/– | Income taxes | (8.) | 73.6 | 72.5 |
| 5. | – | Income taxes paid, less refunds | –49.4 | –33.8 | |
| 6. | +/– | Increase/decrease in provisions | (21.) | –1.5 | 0.1 |
| 7. | –/+ | Other non-cash income/expenses | 6.5 | 1.2 | |
| 8. | +/– | Decrease/increase in inventories | (15.) | –189.4 | –83.4 |
| 9. | +/– | Decrease/increase in trade and other receivables | (16.) | –61.6 | –64.0 |
| 10. | +/– | Increase/decrease in trade payables and similar liabilities | (22.) | 198.4 | 264.3 |
| 11. | +/– | Increase/decrease in other assets/liabilities | (13.), (17.), (23.) | 29.2 | –69.7 |
| 12. | = | Cash flow from operating activities | (25.) | 193.7 | 275.8 |
| 13. | – | Cash paid for investments in property, plant and equipment | (12.) | –189.1 | –122.1 |
| 14. | – | Cash paid for investments in intangible assets | (11.) | –54.8 | –59.6 |
| 15. | – | Cash paid for acquisitions of shares in associated companies and acquisition of companies and prepayments for such acquisitions | (14.) | –34.9 | –30.4 |
| 16. | +/– | Cash received/paid for investments in term deposits | (17.) | 180.0 | –65.0 |
| 17. | +/– | Change in restricted cash | (13.) | 10.4 | 0.0 |
| 18. | = | Cash flow from investing activities | (25.) | –88.3 | –277.1 |
| 19. | + | Cash received from capital increases by the shareholders less transaction costs | (19.) | 3.9 | 1.1 |
| 20. | – | Repurchase of treasury shares | (19.) | –6.7 | –0.7 |
| 21. | – | Payments for shares in other entities without change in control | (19.) | –4.6 | 0.0 |
| 22. | – | Cash repayments of loans | (24), (25.) | –3.2 | –3.2 |
| 23. | = | Cash flow from financing activities | (25.) | –10.6 | –2.9 |
| 24. | = | Net change in cash and cash equivalents from cash relevant transactions | 94.8 | –4.1 | |
| 25. | +/– | Change in cash and cash equivalents due to exchange rate movements | –1.9 | 0.5 | |
| 26. | + | Cash and cash equivalents at the beginning of the period | 972.6 | 976.2 | |
| 27. | = | Cash and cash equivalents as of Dec 31 | 1,065.5 | 972.6 | |
Interest paid and received included in cash flow from operating activities:
| Cash-Relevant Interest | ||
|---|---|---|
| IN EUR M | Jan 1 – Dec 31, 2017 | Jan 1 – Dec 31, 2016 |
| Interest paid | –13.5 | –4.0 |
| Interest received | 2.0 | 0.0 |
| Total | –11.5 | –4.0 |
The table below shows the calculation of the free cash flow based on the cash flow from operating activities.
| Free Cash Flow | ||
|---|---|---|
| IN EUR M | Jan 1 – Dec 31, 2017 | Jan 1 – Dec 31, 2016 |
| Cash flow from operating activities | 193.7 | 275.8 |
| Cash paid for investments in property, plant and equipment | –189.1 | –122.1 |
| Cash paid for investments in intangible assets | –54.8 | –59.6 |
| Cash paid for acquisitions of shares in associated companies and acquisition of companies and prepayments for such acquisitions | –34.9 | –30.4 |
| Free cash flow | –85.0 | 63.7 |