PARENT COMPANY'S CASH FLOW STATEMENT, FAS

Milj. €
1 Jan-31 Dec 2016 1 Jan-31 Dec 2015
CASH FLOW FROM OPERATING ACTIVITIES


Net profit for financial year
52.6 28.7
Adjustments:


Depreciation
1.1 1.0
Financial income (-) and expenses (+)
39.0 26.5
Income tax
13.2 7.2
Proceeds (-) and losses (+) on sales of tangible assets
-0.2 -0.1
Group contribution
-110.2 -68.7
Change in reserves
0.5 0.0
Cash flow before change in working capital
-4.1 -5.3




Change in working capital:


Decrease (+)/increase(-) in current non-interest bearing receivables
0.3 -1.4
Decrease (+)/increase(-) in inventories
1.7 -1.0
Decrease (-)/increase(+) in current loans
-2.4 -3.0
Cash flow before financial items and taxes
-4.5 -10.7








Interest paid and payment of other financial expenses
-18.3 -19.1
Interest received
1.7 5.2
Other financial expenses
-11.4 -11.3
Direct taxes paid
-4.6 -6.6
Cash flow from operating activities (A)
-37.1 -42.4




CASH FLOW FROM INVESTING ACTIVITIES


Investments in tangible and intangible assets
-0.9 -1.3
Income from disposals of tangible assets
0.3 0.1
Other investments to subsidiaries
-250.3 -320.0
Placements in other investments
0.0 0.0
Proceeds from other investments
0.0 0.0
Loans granted
0.0 -4.0
Instalments on loan receivable
3.4 0.7
Cash flow from investing activities (B)
-247.5 -324.5




CASH FLOW FROM FINANCING ACTIVITIES


Loans withdrawn
428.1 404.3
Payments on loans
-103.7 -71.8
Changes in short-term cash pool liabilities and receivables
-163.7 1.7
Group contributions (contribution-based)
52.0 72.3
Dividends paid and other distribution of profit
-25.4 -31.5
Payments received from the issue of shares
98.7 0.0
Cash flow from financing (C)
286.0 375.0




Cash and cash equivalents at the beginning of the year
11.2 3.1
Cash and cash equivalents at the end of the year
12.6 11.2