consolidated cash flow statement

The notes in the section notes to the consolidated financial statements are an integral part of these consolidated financial statements.

in millions of €	note			2008				2007
Net income		18.4				384.9
Taxes on income	14	-121.0				154.6
Share of profit of associates	21	-3.8				-2.0
Net finance costs	13	71.7				2.1
Operating profit		-34.7				539.6
Depreciation property, plant and equipment	12	63.6				39.0
Amortization and impairment software	12	36.4				12.2
Amortization and impairment acquisition-related intangible assets	12	122.9				14.8
Impairment goodwill	12	555.8				-
Gain on disposal of subsidiaries	18	-3.8				-
Share-based payments	38	13.5				11.2
Provisions	37	10.6				-5.4
Income taxes paid	19	-205.4				-153.0
Cash flow from operations before operating working capital				558.9		458.4
Trade and other receivables	37	480.9				-120.0
Trade and other payables	37	-285.7				63.0
Operating working capital				195.2		-57.0
Net cash flow from operating activities				754.1				401.4
Additions in property, plant and equipment	17	-58.3				-60.5
Additions in software	18	-33.7				-13.9
Acquisition of subsidiaries	18	-1,931.4				-108.6
Acquisition of associates	21	-				-478.9
Held-to-maturity investments	20	-2.8				-0.5
Loans and receivables	20	-12.0				-0.2
Dividend received	21	9.4				-
Disposals of property, plant and equipment	17	16.0				2.1
Disposal of subsidiaries	18	15.6				-
Disposal of associates	21	0.9				-
Net cash flow from investing activities				-1,996.3				-660.5
Re-issue of purchased ordinary shares	25	-				0.6
Issue of new ordinary shares	25	0.2				7.8
Drawings on non-current borrowings	27	2,391.6				460.0
Repayments of non-current borrowings	27	-466.2				-
Financing		1,925.6				468.4
Financial income received	13	26.7				13.6
Financial expenses paid	13	-110.8				-5.4
Dividend paid on ordinary shares	25	-146.0				-145.3
Dividend paid on preferred shares B	25	-7.2				-7.2
Reimbursement to financiers		-237.3				-144.3
Net cash flow from financing activities				1,688.3				324.1
Net increase/(decrease) in cash, cash equivalents and current borrowings				446.1				65.0
Cash, cash equivalents and current borrowings at January 1	37			315.8				250.3
Net increase/(decrease) in cash, cash equivalents and current borrowings				446.1				65.0
Translation (expenses)/gains				-1.0				0.5
Cash, cash equivalents and current borrowings at December 31	37			760.9				315.8
Free cash flow	37			672.7				328.4