Cashflow statement

EUR millionGROUPPARENT COMPANY
 2015201420152014
CASH FLOW FROM OPERATIONS        
Earnings Before Interest and Taxes (EBIT) 59,5 43,5 -0,3 0,6
Adjustments:        
Depreciations 69,7 78,5 2,0 2,0
Write-downs 0,0 0,0 0,0 0,0
Capital gains/losses included in operating income -3,0 -2,4 0,0 0,0
Other non-cash income and expenses 3,0 4,3 0,9 -0,1
Interest expenses and other financial expenses paid -17,8 -18,4 -13,1 -16,5
Interest income received 1,7 1,7 9,2 15,1
Dividends received 0,0 0,0 32,2 46,1
Taxes paid -12,6 -13,9 0,0 0,0
Cash flow from operations
excluding change in working capital
100,5 93,2 30,8 47,3
         
Change in working capital:        
Change in current operating receivables 4,8 12,7 0,2 -1,0
Change in inventories 0,2 -0,9 0,0 0,0
Change in non-interest-bearing liabilities 1,9 -13,6 -0,2 -0,5
Cash flow from operations (A) 107,4 91,4 30,8 45,7
         
CASH FLOW FROM INVESTING ACTIVITIES        
Investments in intangible and tangible assets -47,9 -31,2 -0,2 -1,2
Acquired subsidiary and associated companies' shares -37,2 0,0 -40,0 0,0
Sale of intangible and tangible assets 5,3 7,7 0,0 0,0
Investments in other non-current assets 0,0 0,0 0,1 0,0
Investments in financial placements -26,0 0,0 0,0 0,0
Received dividends from associated companies 2,0 0,0 0,0 0,0
Cash flow from investing activities (B) -103,8 -23,5 -40,1 -1,2
         
Cash flow from operations and investing activities (A + B) 3,7 67,9 -9,3 44,5
         
CASH FLOW FROM FINANCING ACTIVITIES        
Increase in long-term loans 75,2 0,0 75,0 0,0
Repayments of long-term loans -129,9* -17,7 -70,4 -17,5
Repayment of long-term receivable 0,0 0,0 -61,8 0,0
Change in long-term receivables 1,0 -1,2 0,3 -5,8
Change in current receivables non operating -0,5 -0,2 -17,8 5,0
Repayments of current loans 0,0 -35,9 0,0 -35,9
Dividends paid -17,9 -18,3 -15,0 -15,0
Change in current liabilities 83,6 -12,4 92,4 12,3
Other financial items 0,0 0,0 15,4 5,6
Cash flow from financing activities (C) 11,5 -85,7 18,1 -51,4
         
Cash flow for the year (A + B + C) 15,1 -17,8 8,8 -6,9
Cash and cash equivalents on 1 January 29,8 47,6 9,0 16,0
CASH AND CASH EQUIVALENTS ON 31 DECEMBER 44,9 29,8 17,8 9,0

*) including refinancing of Emmeti

 

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