|
|
Year ended at 31 December
|
2007 |
variance %
|
2006 |
|
|
Cash flows from continuing operations
|
|
|
|
|
|
Profit before income taxes
|
1,099
|
|
1,223
|
|
|
Adjustments for: |
|
|
|
|
|
Depreciation, amortisation and impairments |
349 |
|
318
|
|
|
Share based payments |
13 |
|
9 |
|
|
Investment income: |
|
|
|
|
|
(Profit)/loss on sale of property, plant and equipment |
(72) |
|
(61) |
|
|
Interest and similar income |
(97) |
|
(199) |
|
|
Foreign exchange (gains) and losses |
3 |
|
0 |
|
|
Interest and similar expenses |
188 |
|
246 |
|
|
Results from investments in associates |
(1) |
|
6 |
|
|
Changes in provisions: |
|
|
|
|
|
Pension liabilities |
(179) |
|
(124) |
|
|
Other provisions |
87 |
|
10 |
|
|
Changes in working capital: |
|
|
|
|
|
Inventory |
0 |
|
(5) |
|
|
Trade accounts receivable |
(132) |
|
(131) |
|
|
Other accounts receivable |
38 |
|
(39) |
|
|
Other current assets |
(9) |
|
(29) |
|
|
Trade accounts payable |
28 |
|
80 |
|
|
Other current liabilities excluding short term financing and taxes |
(2) |
|
34 |
|
|
|
|
|
|
|
|
Cash generated from operations
|
1,313 |
(1.9)
|
1,338 |
|
|
Interest paid |
(178) |
|
(199) |
|
|
Income taxes paid |
(492) |
|
(282) |
|
|
|
|
|
|
|
|
Net cash from operating activities
|
643
|
(25.0)
|
857
|
|
|
Acquisition of group companies (net of cash) |
(287) |
|
(89) |
|
|
Disposal of group companies and joint ventures |
486 |
|
1,365 |
|
|
Investments in associates |
(29) |
|
(20) |
|
|
Disposal of associates |
7 |
|
0 |
|
|
Capital expenditure on intangible assets |
(97) |
|
(103) |
|
|
Disposal of intangible assets |
0 |
|
2 |
|
|
Capital expenditure on property, plant and equipment |
(272) |
|
(277) |
|
|
Proceeds from sale of property, plant and equipment |
85 |
|
65 |
|
|
Other changes in (financial) fixed assets |
1 |
|
7 |
|
|
Changes in minority interests |
0 |
|
7 |
|
|
Interest received |
85 |
|
111 |
|
|
Dividend received |
13 |
|
0 |
|
|
|
|
|
|
|
|
Net cash used in investing activities
|
(8)
|
(100.7)
|
1,068
|
|
|
Repurchases of shares |
(710) |
|
(1,747) |
|
|
Cash proceeds from excercise of shares/options |
29 |
|
52 |
|
|
Proceeds from long term borrowings |
659 |
|
2 |
|
|
Repayments to long term borrowings |
(20) |
|
(53) |
|
|
Proceeds from short term borrowings |
99 |
|
328 |
|
|
Repayments to short term borrowings |
(357) |
|
(166) |
|
|
Repayments to finance leases |
(19) |
|
(10) |
|
|
Dividends paid |
(298) |
|
(282) |
|
|
Financing relating to our discontinued operations |
(18) |
|
(276) |
|
|
|
|
|
|
|
|
Net cash used in financing activities
|
(635)
|
70.5
|
(2,152)
|
|
|
|
|
|
|
|
|
Change in cash from continuing operations
|
0 |
-
|
(227)
|
|
|
|
|
|
|
|
|
Cash flows from discontinued operations
|
|
|
|
|
|
Net cash from operating activities |
(19) |
|
(63) |
|
|
Net cash used in investing activities |
4 |
|
(30) |
|
|
Net cash used in financing activities |
16 |
|
36 |
|
|
|
|
|
|
|
|
Change in cash from discontinuing operations
|
1
|
|
(57)
|
|
|
|
|
|
|
|
|
Total changes in cash
|
1
|
|
(284)
|
|
|
- (in € millions, except percentages)
- — the figures in the line items of these financial statements refer to the notes to the financial statements.
- — the accompanying notes form an integral part of the financial statements.
|
