31 – Cash flow statement
The cash flow statement can be reconciled with the changes in the elements of the consolidated balance sheet as follows:
| (€ million) |
Balance |
Acquisitions |
Discon- |
Non cash |
Transfers |
Dividends |
Other |
Cash |
| |
sheet |
|
tinued |
changes |
paid |
paid |
|
flow |
| |
changes |
|
operations |
|
|
|
|
|
| |
|
|
(note 9) |
|
|
|
|
|
| Shareholders’ equity |
-367.2 |
– |
– |
337.4 |
– |
172.3 |
35.6 |
178.1 |
Trade and other
receivables |
-40.2 |
4.3 |
– |
– |
– |
– |
80.9 |
45.0 |
| Other payables |
-79.5 |
-1.2 |
-11.8 |
48.0 |
– |
– |
20.9 |
-23.6 |
Liabilities of
discontinued operations |
-11.8 |
– |
11.8 |
– |
– |
– |
– |
– |
| Employee benefits |
-0.3 |
– |
– |
– |
– |
– |
– |
-0.3 |
| Provisions |
-0.2 |
– |
– |
– |
– |
– |
– |
-0.2 |
Cash flow from
operating activities |
– |
– |
– |
– |
– |
– |
– |
199.0 |
| |
|
|
|
|
|
|
|
|
| Investment property |
-290.9 |
135.0 |
– |
-321.5 |
110.0 |
– |
-123.0 |
-490.4 |
Investment property
under development |
-19.4 |
1.9 |
– |
-24.8 |
-110.0 |
– |
– |
-152.3 |
Investments in
associates |
96.2 |
-16.7 |
– |
-69.0 |
– |
– |
– |
10.5 |
Investments in
subsidiaries |
– |
-71.3 |
– |
– |
– |
– |
– |
-71.3 |
Other investments,
non-current |
4.8 |
– |
– |
-5.6 |
– |
– |
-14.6 |
-15.4 |
| Other investments, current |
-97.7 |
– |
– |
44.3 |
– |
– |
– |
-53.4 |
| Intangible assets |
6.1 |
-2.0 |
– |
-4.1 |
– |
– |
– |
– |
Property, plant and
equipment |
-0.9 |
– |
– |
-2.0 |
– |
– |
– |
-2.9 |
Assets of discontinued
operations |
648.0 |
– |
– |
-15.8 |
– |
– |
– |
632.2 |
Cash flow from
investing activities |
– |
– |
– |
– |
– |
– |
– |
-143.0 |
| |
|
|
|
|
|
|
|
|
Interest-bearing long-term
loans and borrowings |
164.6 |
-43.1 |
– |
-10.3 |
– |
– |
– |
111.2 |
Interest-bearing short-term
loans and borrowings |
3.2 |
– |
– |
– |
– |
– |
– |
3.2 |
| Dividends paid |
– |
– |
– |
– |
– |
-172.3 |
– |
-172.3 |
Cash flow from
financing activities |
– |
– |
– |
– |
– |
– |
– |
-57.9 |
| |
|
|
|
|
|
|
|
|
| Deferred tax assets |
-2.9 |
– |
– |
2.7 |
– |
– |
0.2 |
– |
| Deferred tax liabilities |
-13.7 |
-6.9 |
– |
20.6 |
– |
– |
– |
– |
Non-cash balance
sheet items |
– |
– |
– |
– |
– |
– |
– |
– |
| |
|
|
|
|
|
|
|
|
| Net cash flow |
– |
– |
– |
– |
– |
– |
– |
-1.9 |
Cash & cash equivalents,
1 January 2008 |
– |
– |
– |
– |
– |
– |
– |
12.7 |
Cash & cash equivalents,
31 December 2008 |
– |
– |
– |
– |
– |
– |
– |
10.8 |
Source: Annual Report 2008, Chapter Financial Statements, page 177 (PDF, 179 kB)
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