|
 |
|
| |
|
|
|
|
|
|
|
| Net profit for the period |
|
746.4 |
|
1 435.0 |
|
926.3 |
|
| Reversal of non-cash items: |
|
|
|
|
|
|
|
| Minority Interests |
|
4.5 |
|
13.7 |
|
-2.9 |
|
| Taxes |
|
391.8 |
|
650.3 |
|
299.6 |
|
Depreciation, amortisation and
impairment charges |
|
911.1 |
|
1 129.4 |
|
1 267.6 |
|
Share of results of associated
companies |
|
-9.7 |
|
-20.6 |
|
-79.6 |
|
Profits and losses on sale of
fixed assets |
|
-97.5 |
|
-597.5 |
|
-48.4 |
|
| Net financial income |
|
266.6 |
|
292.9 |
|
343.5 |
|
| Interest received |
|
12.8 |
|
23.0 |
|
56.1 |
|
| Interest paid, net of amounts capitalised |
|
-279.3 |
|
-318.2 |
|
-352.5 |
|
| Dividends received |
|
3.9 |
|
6.3 |
|
17.0 |
|
| Other financial items, net |
|
37.3 |
|
3.0 |
|
-27.4 |
|
| Income taxes paid |
|
-310.9 |
|
-553.3 |
|
-699.6 |
|
| Change in net working capital, net of businesses acquired or sold |
|
-218.0 |
|
96.6 |
|
-171.2 |
|
| Net Cash Provided by Operating Activities |
|
1 459.0 |
|
2 160.6 |
|
1 528.5 |
|
| |
|
|
|
|
|
|
|
| Cash Flow from Investing Activities |
|
|
|
|
|
|
|
| Acquisition of subsidiary shares, net of cash |
|
-87.1 |
|
-2 831.9 |
|
-233.6 |
|
| Acquisition of shares in associated companies |
|
-2.7 |
|
- |
|
-135.6 |
|
| Investment in shares in other companies |
|
-14.1 |
|
-10.0 |
|
-7.0 |
|
| Capital expenditure |
|
-729.1 |
|
-769.3 |
|
-857.1 |
|
| Proceeds from disposal of subsidiary shares, net of cash |
|
140.4 |
|
590.0 |
|
- |
|
| Proceeds from disposal of shares in associated companies |
|
72.0 |
|
- |
|
62.4 |
|
| Proceeds from disposal of shares in other companies |
|
1.5 |
|
20.9 |
|
- |
|
| Proceeds from sale of fixed assets |
|
28.7 |
|
109.9 |
|
92.6 |
|
| Proceeds from (payment of) long-term receivables, net |
|
11.1 |
|
-20.6 |
|
196.0 |
|
| Net Cash Used in Investing Activities |
|
-579.3 |
|
-2 911.0 |
|
-882.3 |
|
| |
|
|
|
|
|
|
|
| Cash Flow from Financing Activities |
|
|
|
|
|
|
|
| Proceeds from (payment of) long-term liabilities, net |
|
-613.6 |
|
2 077.8 |
|
-351.3 |
|
| Proceeds from (payment of) short-term borrowings, net |
|
35.2 |
|
-744.8 |
|
-216.1 |
|
| Dividends paid |
|
-268.8 |
|
-303.9 |
|
-407.4 |
|
| Proceeds from issue of share capital |
|
2.0 |
|
- |
|
29.5 |
|
| Repurchase of own shares |
|
- |
|
-173.7 |
|
-199.8 |
|
| Other |
|
- |
|
-2.4 |
|
- |
|
| Net Cash Used in Financing Activities |
|
-845.2 |
|
853.0 |
|
-1 145.1 |
|
| |
|
|
|
|
|
|
|
| Net Increase (Decrease) in Cash and Cash Equivalents |
|
34.5 |
|
102.6 |
|
-498.9 |
|
| Translation adjustment |
|
12.7 |
|
-0.4 |
|
1.5 |
|
| Cash and cash equivalents at beginning of year |
|
595.0 |
|
642.2 |
|
744.4 |
|
| Cash and Cash Equivalents at Year-End |
|
642.2 |
|
744.4 |
|
247.0 |
|
The accompanying Notes are an integral part of these Consolidated Financial Statements
|
|
|
|
| |
|
|
|
|
|
|
|
| Change in Net Working Capital consists of: |
|
|
|
|
|
|
|
| Change in inventories |
|
120.7 |
|
-43.2 |
|
-52.6 |
|
| Change in interest-free receivables |
|
-203.4 |
|
-269.4 |
|
315.5 |
|
| Change in interest-free liabilities |
|
-87.0 |
|
354.7 |
|
-211.5 |
|
| Proceeds from (payments of) short-term receivables |
|
-48.3 |
|
54.5 |
|
-222.6 |
|
| |
|
-218.0 |
|
96.6 |
|
-171.2 |
|
| Non-cash Investing and Financing Activities: |
|
|
|
|
|
|
|
| Total capital expenditure |
|
740.2 |
|
769.3 |
|
857.1 |
|
| Amounts paid |
|
729.1 |
|
769.3 |
|
857.1 |
|
| Finance lease obligations incurred |
|
11.1 |
|
- |
|
- |
|
| |
|
|
|
|
|
|
|
| Acquisition of Group Companies |
|
|
|
|
|
|
|
| Cash Flow on Acquisitions |
|
|
|
|
|
|
|
| Purchase consideration on acquisitions |
|
87.1 |
|
2 879.6 |
|
233.6 |
|
| Cash and cash equivalents in acquired companies |
|
- |
|
-47.7 |
|
- |
|
| |
|
87.1 |
|
2 831.9 |
|
233.6 |
|
| Non-cash Transaction |
|
|
|
|
|
|
|
| Equity issue |
|
- |
|
1 717.2 |
|
- |
|
| Total Purchase Consideration |
|
87.1 |
|
4 549.1 |
|
233.6 |
|
| |
|
|
|
|
|
|
|
| Acquired Net Assets |
|
|
|
|
|
|
|
| Operating working capital |
|
1.2 |
|
228.2 |
|
- |
|
| Operating fixed assets |
|
1.5 |
|
5 820.3 |
|
141.5 |
|
| Interest-bearing assets less cash and cash equivalents |
|
- |
|
571.3 |
|
- |
|
| Tax liabilities |
|
- |
|
-915.0 |
|
- |
|
| Interest-bearing liabilities |
|
1.0 |
|
-1 204.9 |
|
- |
|
| Minority interests |
|
83.4 |
|
49.2 |
|
92.1 |
|
| |
|
87.1 |
|
4 549.1 |
|
233.6 |
|
| |
|
|
|
|
|
|
|
| Disposal of Group Companies |
|
|
|
|
|
|
|
| Cash Flow on Disposals |
|
|
|
|
|
|
|
| Cash flow on disposal |
|
140.4 |
|
590.0 |
|
- |
|
| Cash and cash equivalents in sold companies |
|
- |
|
- |
|
- |
|
| |
|
140.4 |
|
590.0 |
|
- |
|
| Net Assets Sold |
|
|
|
|
|
|
|
| Operating working capital |
|
27.8 |
|
-5.2 |
|
- |
|
| Operating fixed assets |
|
75.9 |
|
1 315.3 |
|
- |
|
| Interest-bearing assets less cash and cash equivalents |
|
- |
|
8.0 |
|
- |
|
| Tax liabilities |
|
- |
|
32.5 |
|
- |
|
| Interest-bearing liabilities |
|
- |
|
-1 274.5 |
|
- |
|
| Minority interests |
|
- |
|
-10.9 |
|
- |
|
| Gain (loss) on sale |
|
36.7 |
|
524.8 |
|
- |
|
| |
|
140.4 |
|
590.0 |
|
- |
|
The accompanying Notes are an integral part of these Consolidated Financial Statements
|
