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Consolidated Statement of Cash Flows


EUR million Note 2013 2012
Result for the financial period
7.7 14.1
Adjustments:



Depreciation and amortization 9 92.1 88.0

Impairment losses 9 24.3 1.4

Gains on sale of intangible assets and PPE 4 -6.6 -4.8

Losses on sale of intangible assets and PPE 10 1.3 15.3

Financial income 11 -25.2 -26.5

Financial expense 11 35.6 34.7

Income tax 12 -10.1 16.7

Other adjustments
-19.4 18.3
Cash flow before change in net working capital
99.6 157.3






Change in trade and other receivables
9.0 -18.2

Change in inventories
-1.4 0.8

Change in trade payables and other liabilities
-11.3 6.4
Change in net working capital
-3.6 -11.1





Cash flow before financial items and income tax
95.9 146.2






Interests paid
-20.6 -19.8

Interests received
7.1 8.2

Other financial items
1.4 -0.1

Income tax paid
-2.4 -15.6
Cash flow from financial items and income tax
-14.6 -27.3





Cash flow from operating activities
81.3 118.9





Purchase of intangible assets
-6.2 -28.1
Purchase of property, plant and equipment
-34.6 -45.4
Proceeds from sale of intangible assets and property, plant and equipment
6.9 7.4
Acquisitions of subsidiaries and businesses (less cash acquired) 2 0.0 -41.5
Disposals of subsidiaries (less cash at disposal) 2 12.5 -14.4
Financial assets at fair value through profit or loss
-29.8 2.5
Cash flow from other investments
2.0 -3.1
Cash flow from investing activities
-49.2 -122.5





Proceeds from current loans 31 0.0 4.8
Repayment of non-current loans 31 -25.1 -23.8
Repayment of finance lease liabilities
-7.4 -6.6
Financial assets held to maturity 24 0.3 -4.2
Dividends paid
-6.8 -
Cash flow from financing activities
-39.0 -29.8





Change in cash and cash equivalents
-6.8 -33.4





Cash and cash equivalents at the beginning of the period 26 90.3 121.0
Effect of changes in exchange rates
-2.5 2.7
Cash and cash equivalents at the end of the period 26 81.0 90.3