| (€’000) | Note | 2015 | 2014 |
|---|---|---|---|
| Cash and cash equivalents | 15 | 380,867 | 310,442 |
| Current account facilities | 17 | (11,436) | (85,174) |
| Total opening cash and cash equivalents | 369,431 | 225,268 | |
| Operating activities | |||
| Profit for the year | 35,731 | 30,693 | |
| Amortisation of intangible assets | 30 | 17,473 | 22,954 |
| Depreciation of property, plant and equipment | 30 | 94,681 | 77,005 |
| Net impairment losses and provisions | 30 | 33,914 | 5,292 |
| Accrual for post-employment benefits and employee benefits | 21 | 8,901 | 7,616 |
| Net losses on the sale of assets | 29 - 30 | (4,919) | (8,424) |
| Deferred taxes | 33 | 32,593 | (18,829) |
| Impairment losses on equity investments | 32 | 123,437 | 95,064 |
| Income taxes | (30,291) | 29,543 | |
| Net interest paid during the year | 60,001 | 27,980 | |
| Other non-monetary items of which: non-recurring |
6,979 | (23,060) | |
| Cash flows generated by operating activities | 378,500 | 245,834 | |
| Increase in inventories | (179,190) | (99,120) | |
| Increase in trade receivables | (19,292) | (11,810) | |
| Increase in progress payments and advances from customers | 200,249 | 47,087 | |
| Increase in trade payables | 42,231 | 61,503 | |
| Decrease (increase) in other assets/liabilities | 116,984 | (135,674) | |
| Total changes in working capital | 160,982 | 138,014) | |
| Increase in other items not included in working capital | (73,840) | (14,433) | |
| Interest expense paid | (44,635) | (5,772) | |
| Income taxes | (17,600) | (1,494) | |
| Cash flows generated by operating activities | 403,407 | 86,120 | |
| Investing activities | |||
| Net investments in intangible assets | (51,480) | (33,233) | |
| Investments in property, plant and equipment | 4 | (119,646) | (108,776) |
| Proceeds from the sale or reimbursement value of property, plant and equipment | 15,455 | 17,711 | |
| Investments in non-current financial assets | (101,618) | (178,360) | |
| Dividends distributed by subsidiaries | - | 123,227 | |
| Proceeds from the sale or reimbursement value of non-current financial assets | (5,541) | 1,228 | |
| Cash flows used in investing activities | (262,830) | (178,203) | |
| Financing activities | |||
| Share capital increase | - | 161,568 | |
| Dividend distribution | 16 | (19,982) | (420) |
| Repurchase of treasury shares | (7,677) | ||
| Assignment of shares under LTI plan | 138 | - | |
| Increase in bank and other loans | 1,231,062 | 193,838 | |
| Decrease in bank and other loans | (742,633) | (401,093) | |
| Change in other financial assets/liabilities | (231,411) | 158,309 | |
| Other changes | (5,511) | 32,310 | |
| Cash flows generated by financing activities | 231,663 | 136,835 | |
| Net exchange rate gains (losses) on cash and cash equivalents | (16,653) | 99,411 | |
| Increase in cash and cash equivalents | 355,587 | 144,163 | |
| Cash and cash equivalents | 15 | 763,933 | 380,867 |
| Current account facilities | 17 | (38,915) | (11,436) |
| Total closing cash and cash equivalents | 725,018 | 369,431 |
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