(€k) | 2015 | 2014 |
---|---|---|
Opening net cash and cash equivalents | 142,814 | 129,579 |
Pre-tax profit and net financial expense for the year | 150,921 | 121,616 |
Amortisation, depreciation and impairment losses on non-current assets, net of reversals | 224,322 | 197,599 |
Adjustment and (gains)/losses on disposal of financial assets | 1,003 | (2,977) |
(Gain)/losses on disposal of non-current assets | (4,788) | (3,373) |
Other non-cash items | (103) | (1,142) |
Change in working capital | 11,200 | (4,410) |
Net change in non-current non-financial assets and liabilities | 1,868 | (30,840) |
Cash flow from operating activities | 384,423 | 276,473 |
Taxes paid | (51,559) | (36,525) |
Interest paid | (35,707) | (30,836) |
Net cash flow from operating activities | 297,157 | 209,112 |
Acquisition of property, plant and equipment and intangible assets | (227,339) | (179,529) |
Proceeds from sale of non-current assets | 8,347 | 3,585 |
Acquisition of consolidated equity investments | (850) | (1,335) |
Disposal of US Retail division | 23,357 | 18,608 |
Net change in non-current financial assets | 3,195 | 11 |
Net cash flow used in investing activities | (193,290) | (158,661) |
Issue of new non-current loans | 274,992 | - |
Repayments of non-current loans | (336,136) | (42,432) |
Repayments of current loans, net of new loans | (68,669) | 12,227 |
Excercise of stock options | 2,105 | 523 |
Other cash flows * | (11,476) | (14,029) |
Net cash flow used in financing activities | (139,184) | (43,711) |
Cash flow for the period | (35,317) | 6,741 |
Effect of exchange on net cash and cash equivalents | 1,348 | 6,494 |
Closing net cash and cash equivalents | 108,845 | 142,814 |
*Includes dividend paid to minority shareholders in subsidiaries
Reconciliation of net cash and cash equivalents
(€k) | ||
---|---|---|
Opening – net cash and cash equivalents - balance as of 1st January 2015 and as of 1st January 2014 | 142,814 | 129,579 |
Cash and cash equivalents | 183,241 | 171,516 |
Current account overdrafts | (40,426) | (41,937) |
Closing – net cash and cash equivalents - balance as of 30 June 2015 and as of 30 June 2014 | 108,845 | 142,814 |
Cash and cash equivalents | 161,834 | 183,241 |
Current account overdrafts | (52,989) | (40,426) |