34. Cash Generated from Operations
in thousands of EUR | Notes | 2017 | 2016 |
|---|---|---|---|
Result before tax | 350,022 | 347,728 | |
Adjusted for: | |||
Depreciation and impairments | 117,055 | 110,069 | |
Amortization and impairments | 92,606 | 53,323 | |
Share-based payments expense | 11,273 | 15,303 | |
Result from sale of property, plant and equipment | 223 | 2,541 | |
Result from sale of intangibles | - 990 | 292 | |
Net financial result | 14,705 | 10,414 | |
Share of result of Associates and Joint Ventures | - 1,932 | - 3,851 | |
Result from sale and valuation of investments in buildings | - | 575 | |
Fair value gain on remeasurement of Associate | - 37,949 | - | |
Changes in working capital: | |||
- Inventories | - 51,534 | - 31,232 | |
- Trade and other receivables | - 40,892 | - 25,751 | |
- Trade and other payables | 5,426 | 52,731 | |
Changes in provisions | 2,518 | 1,435 | |
Cash generated from operations | 460,531 | 533,577 |
Changes in working capital and provisions exclude exchange differences and the effect of acquisitions.
- SHARE:
