Annual Report 2024

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Creating tomorrow’s solutions

Consolidated Statement of Cash Flows

January 1 to December 31

€ million

 

Notes

 

2024

 

2023

 

 

 

 

 

 

 

Net income for the year

 

 

 

260.7

 

327.3

Depreciation/amortization of fixed assets

 

05

 

472.7

 

418.7

Result from disposal of fixed assets

 

 

 

8.8

 

12.0

Other non-cash expenses and income

 

 

 

15.1

 

27.2

Result from equity accounting

 

08

 

-19.1

 

-49.3

Net interest income

 

03

 

4.2

 

-7.8

Interest paid

 

03

 

-46.6

 

-39.7

Interest received

 

03

 

43.7

 

44.5

Income tax expense

 

04

 

-2.3

 

59.7

Taxes paid

 

04

 

-60.5

 

-58.3

Dividends received

 

 

 

17.1

 

51.5

Change in inventories

 

09

 

-368.8

 

159.3

Change in trade receivables

 

10

 

34.1

 

114.4

Change in trade payables

 

16

 

-51.9

 

-49.2

Change in non-financial assets

 

10

 

-25.0

 

22.0

Change in financial assets

 

10

 

31.6

 

-17.6

Change in provisions

 

14

 

-4.7

 

51.7

Change in non-financial liabilities

 

16

 

22.6

 

-129.9

Change in financial liabilities

 

16

 

-4.9

 

1.1

Change in contract liabilities

 

16

 

-16.4

 

-1.3

Cash flow from operating activities (gross cash flow)

 

21

 

310.4

 

936.3

 

 

 

 

 

 

 

Investments in intangible assets, property, plant and equipment, and investment property

 

05

 

-651.6

 

-639.6

Proceeds from investment grants

 

05

 

11.3

 

Investments in financial assets

 

05

 

-0.5

 

-0.6

Proceeds from the disposal of fixed assets/financial assets

 

 

 

2.6

 

1.1

Proceeds from the disposal of equity-accounted investments

 

 

 

8.5

 

Proceeds from loans to equity companies

 

 

 

6.0

 

Cash payments for loans to equity companies

 

 

 

-1.1

 

-21.2

Cash payments for acquisitions

 

 

 

-11.6

 

-110.4

Cash flow from long-term investing activities before securities

 

 

 

-636.4

 

-770.7

Cash receipts from the disposal of securities and fixed-term deposits

 

11

 

259.7

 

1,153.5

Cash payments for the acquisition of securities and fixed-term deposits

 

11

 

-58.6

 

-490.4

Cash flow from investing activities

 

21

 

-435.3

 

-107.6

 

 

 

 

 

 

 

Dividends paid

 

19

 

-149.0

 

-596.1

Dividends paid to non-controlling interests

 

 

 

-19.9

 

-8.7

Additions to financing liabilities

 

15

 

623.1

 

407.2

Repayment of financing liabilities

 

15

 

-272.4

 

-454.0

Lease liabilities repaid

 

06

 

-35.9

 

-36.5

Cash flow from financing activities

 

21

 

145.9

 

-688.1

Change due to exchange-rate fluctuations

 

 

 

12.0

 

-21.6

Change in cash and cash equivalents

 

11

 

33.0

 

119.0

At the beginning of the year

 

 

 

1,013.7

 

894.7

At the end of the year

 

 

 

1,046.7

 

1,013.7