| |
2010 |
2009 |
| Cash flows from operating activities |
| Profit for the period |
77.4 |
73.8 |
| Adjustments for: |
| Depreciation and amortization |
33.6 |
31.7 |
| Taxes on income |
34.6 |
37.0 |
| Net finance expense |
18.3 |
3.6 |
| Income from associates |
(0.7) |
- |
| |
163.2 |
146.1 |
| Share-based compensation |
7.3 |
9.3 |
| Sale of activities, net of cost |
- |
(1.9) |
| Change in operational derivatives |
4.7 |
- |
| Settlement of operational derivatives |
(4.4) |
- |
| Change in inventories |
0.1 |
0.3 |
| Change in receivables |
(27.6) |
73.1 |
| Change in provisions |
(2.2) |
1.9 |
| Change in billing in excess of costs |
(9.2) |
(30.2) |
| Change in current liabilities |
7.3 |
12.1 |
| Dividend received |
0.5 |
0.3 |
| Interest received |
3.5 |
3.4 |
| Interest paid |
(22.1) |
(16.2) |
| Corporate tax paid |
(29.3) |
(45.7) |
| Net cash from operating activities |
91.8 |
152.5 |
| Cash flows from investing activities |
| Investments in (in)tangible assets |
(35.7) |
(26.3) |
| Proceeds from sale of (in)tangible assets |
2.1 |
1.9 |
| Investments in consolidated companies |
(40.2) |
(80.2) |
| Proceeds from sale of consolidated companies |
- |
1.8 |
| Investments in associates and other investments |
(1.5) |
(6.4) |
| Proceeds from sale of associates and other investments |
0.2 |
- |
| Investments in other non-current assets |
(8.9) |
(6.2) |
| Proceeds from sale of other non-current assets |
6.7 |
3.1 |
| Net cash used in investing activities |
(77.3) |
(112.3) |
| Cash flows from financing activities |
| Proceeds from exercise of options |
5.1 |
3.4 |
| Proceeds from issue of shares |
- |
5.8 |
| Purchase of own shares |
(18.7) |
- |
| Settlement of financing derivatives |
(4.3) |
(5.6) |
| New long-term loans and borrowings |
25.5 |
90.9 |
| Repayment of long-term loans and borrowings |
(10.2) |
(16.9) |
| New short-term borrowings |
18.2 |
18.4 |
| Repayment of short-term borrowings |
(22.2) |
(9.1) |
| Dividend paid |
(32.1) |
(27.3) |
| Net cash from financing activities |
(38.7) |
59.6 |
| Net change in cash and cash equivalents less bank overdrafts |
24.2 |
99.8 |
| Exchange rate differences |
9.9 |
1.0 |
| Cash and cash equivalents less bank overdrafts at January 1 |
212.5 |
111.7 |
| Cash and cash equivalents less bank overdrafts at December 31 |
198.2 |
212.5 |
