Cash Flow Statement
| Q1 2006 | Q1 2007 | |
|---|---|---|
€ million |
|
|
Income before income taxes | 115 | 132 |
Depreciation and amortization | 62 | 62 |
(Income) loss from investment in associate |
| 3 |
Financial (income) losses | 7 | (2) |
Income taxes paid | (9) | (13) |
Change in inventories | (24) | (28) |
Changes in trade receivables | (37) | (77) |
Changes in trade payables | (68) | 8 |
Changes in other assets and liabilities | (1) | (8) |
Net cash provided by operating activities | 36 | 77 |
|
|
|
Cash outflows for additions to intangible assets, property, plant and equipment | (37) | (47) |
Cash outflows for financial assets | 0 | (13) |
Cash outflows for acquisitions | 0 | (23) |
Cash inflows from sales of intangible assets, property, plant and equipment | 1 | 0 |
Cash inflows from divestments of subsidiaries and other businesses | 32 | 45 |
Interest and dividends received | 2 | 10 |
Net cash used in investing activities | (2) | (28) |
|
|
|
Proceeds from borrowings | 49 | 11 |
Repayments of borrowings | (129) | (16) |
Interest paid and other financial disbursements | (2) | (2) |
Net cash used in financing activities | (82) | (7) |
|
|
|
Change in cash and cash equivalents from business activities | (48) | 42 |
| ||
Cash and cash equivalents as of January 1 | 136 | 171 |
Cash and cash equivalents as of March 31 | 88 | 213 |