Cash flow statement

Consolidated statement of cash flows 2008
EUR x 1,000,000	2008	2007¹
Operating result	(18.5)	55.3
Depreciation of property, plant and equipment	32.4	29.2
Impairment of property, plant and equipment	6.4
Amortisation of intangible assets	3.7	1.6
Impairment of intangible assets	22.6
Result on disposal of property, plant and equipment and subsidiaries	(2.6)	(1.8)
Interest paid	(16.4)	(11.8)
Income tax paid	(19.2)	(15.1)
Change in provisions	11.9	(11.1)
Change in working capital	17.0	(25.9)
Net cash flow from operating activities	37.3	20.4

Purchase of property, plant and equipment	(24.7)	(33.5)
Acquisition of subsidiaries, net of cash acquired	(67.2)	(1.3)
Purchase of intangible assets, other than by acquisition of subsidiaries	(1.9)	(1.5)
Proceeds from disposal of property, plant and equipment	6.0	8.4
Proceeds from disposal of subsidiaries	0.2	4.4
Change in discontinued operations	6.8	25.8
Proceeds from disposal of intangible assets	0.3	0.2
Interest received	0.8	0.4
Net cash used in investing activities	(79.7)	2.9

Net purchase of treasury shares	0.7	(1.0)
Dividend paid to equity holders	(14.8)	(14.8)
Dividend paid to third parties	(0.4)	(0.8)
Change in interest-bearing liabilities	57.5	(2.7)
Net cash used in financing activities	43.0	(19.3)

Change in cash and cash equivalents	0.6	4.0
Cash and cash equivalents at 1 January	25.0	21.7
Exchange rate differences on cash and cash equivalents	(0.7)	(0.7)

Cash and cash equivalents at 31 December	24.9	25.0

¹ De figures for 2007 have been adjusted due to the presentation of discontinued operations.