2014 Consolidated cash flow statement
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1T 14 M€ |
1S 14 |
9M 14 M€ |
2014 M€ |
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| Profit before taxes | 41.0 | 78.4 | 102.2 | (97.0) |
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| Adjusted for: | ||||
| - Depreciations | 14.6 | 35.3 | 48.7 | 64.2 |
| - Provisions, capital grants and others | (6.9) | (16.8) | (20.2) | 199.5 |
| - Share of profit / (losses) of associates and other investees | 0.3 | 0.3 | (0.2) | 3.3 |
| - Net financial result | 9.2 | 22.0 | 37.0 | 49.5 |
| Operating cash-flow prior to changes in working capital | 58.2 | 119.2 | 167.3 | 220.0 |
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| Receivables, net | 38.6 | 3.5 | 26.6 | (45.0) |
| Inventories, net | (17.0) | 1.5 | (11.0) | 46.7 |
| Payables, net | 27.7 | (25.8) | (48.7) | 14.9 |
| Change in working capital | 49.4 | (20.8) | (33.1) | 16.7 |
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| Other operating changes | (64.5) | (28.4) | (37.5) | (44.3) |
| Income taxes paid | (4.0) | (25.9) | (36.8) | (52.6) |
| Cash-flow from operating activities | 39.1 | 44.1 | 60.1 | 139.8 |
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| Property, plant and equipment, net | (5.2) | (8.8) | (12.1) | (14.9) |
| Intangible, net | (3.9) | (19.6) | (29.4) | (41.8) |
| Investements, net | (5.2) | (12.5) | (16.1) | (12.9) |
| Interest received | 1.5 | 2.6 | 3.6 | 4.9 |
| Net cash-flow provided/(used) by investing activities | (12.8) | (38.2) | (53.9) | (64.7) |
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| Changes in treasury stock | (0.9) | (4.9) | (9.4) | (6.9) |
| Dividends of the parent company | 0.0 | 0.0 | (55.6) | (55.6) |
| Short term financial investment variation | 0.3 | 0.3 | 0.8 | 2.2 |
| Increases (repayment) in capital grants | 0.7 | 1.7 | 3.1 | 5.3 |
| Increase (decrease) in borrowings | (21.9) | (43.8) | 4.5 | (44.3) |
| Interest paid | (11.2) | (23.3) | (29.9) | (46.2) |
| Cash-flow generated/(used) by financing | (33.0) | (69.8) | (86.6) | (145.7) |
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| NET CHANGE IN CASH AND CASH EQUIVALENTS | (6.7) | (64.0) | (80.4) | (70.6) |
| Cash & cash equivalents at the beginning of the period | 363.1 | 363.1 | 363.1 | 363.1 |
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| Foreign exchange differences | 0.4 | 0.8 | 1.0 | 1.4 |
| Net change in cash and cash equivalents | (6.7) | (64.0) | (80.4) | (70.6) |
| Cash & cash equivalents at the end of the period | 356.7 | 299.9 | 283.6 | 293.8 |
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| Cash & cash equivalents at the end of the period | (964.0) | (951.9) | (1,009.5) | (956.6) |
| Net debt/ (cash) position | 607.3 | 651.9 | 725.9 | 662.7 |
| FCF (1) | 21.0 | (3.2) | (4.6) | 47.1 |
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(1) Free cash flow is defined as cash generated before dividend payment, net financial Investments, net and similar payments, and investment in treasury stock
*According to International Financial Reporting Standards (IFRS).