Consolidated statement of cash flows
for 2018, prepared using the indirect method
| Note | 2018 | 2017 | |
|---|---|---|---|
| Cash flows from operating activities | |||
| Net profit | 1,587.4 | 1,671.8 | |
| Adjustments: | 1,106.7 | 1,804.9 | |
| Income tax | 10.1 | 1,135.2 | 775.9 |
| Share in net profit/(loss) of equity-accounted joint ventures | 14 | (3.3) | (3.2) |
| Depreciation and amortisation | 9.1 | 722.7 | 844.3 |
| Foreign exchange (gains)/losses | 190.5 | 72.3 | |
| Interest and dividends | 133.5 | 146.2 | |
| (Gain)/loss from investing activities | 8.0 | 8.6 | |
| Impairment losses on property, plant and equipment and other intangible assets | 9.3; 9.4 | (271.7) | 83.6 |
| Settlement and measurement of financial instruments | 9.5; 9.6 | 7.2 | (314.1) |
| Decrease/(Increase) in trade receivables | 796.6 | (425.3) | |
| (Increase)/Decrease in other assets | (157.3) | 160.1 | |
| (Increase) in inventories | (1,256.7) | (230.9) | |
| (Decrease)/Increase in trade payables | (288.0) | 483.5 | |
| Increase in other liabilities and provisions | 77.6 | 194.8 | |
| Increase in employee benefit obligations | 12.4 | 9.1 | |
| Income tax paid | (366.6) | (350.2) | |
| Net cash from operating activities | 2,327.5 | 3,126.5 | |
| Cash flows from investing activities | |||
| Dividends received - equity-accounted joint ventures | 3.2 | 2.1 | |
| Dividends received from other entities | 1.7 | 1.7 | |
| Interest received | 6.2 | 11.3 | |
| Sale of property, plant and equipment | 8.3 | 4.3 | |
| and other intangible assets | |||
| Purchase of property, plant and equipment | (967.2) | (1,439.2) | |
| and other intangible assets | |||
| Cash contributions - equity-accounted joint ventures | 14 | (7.6) | (5.4) |
| Deposits | 8.0 | (8.0) | |
| Security deposit (margin) | 27.0 | 25.3 | |
| Funds for future costs of decommissioning of oil and gas | (226.3) | (42.9) | |
| extraction facilities | |||
| Settlement of derivative financial instruments | 60.1 | 2.8 | |
| Other cash used in investing activities | - | (0.7) | |
| Net cash from investing activities | (1,086.6) | (1,448.7) | |
| Cash flows from financing activities | |||
| Proceeds from bank borrowings | 22.1 | 366.6 | 925.8 |
| Issue of notes | 22.3 | 128.2 | 296.1 |
| Repayment of bank borrowings | 22.1 | (1,109.5) | (1.223.4) |
| Repayment of non-bank borrowings | 22.2 | (12.8) | (12.8) |
| Redemption of notes | 22.3 | (214.8) | (160.2) |
| Interest paid | (224.3) | (203.3) | |
| Dividends paid | 12 | (184.9) | (184.9) |
| Finance lease payments | (33.0) | (36.8) | |
| Settlement of derivative financial instruments | 49.5 | 116.8 | |
| Net cash from financing activities | (1,235.0) | (482.7) | |
| Total net cash flow | 5.9 | 1,195.1 | |
| Effect of exchange rate fluctuations on cash held | 11.8 | (5.3) | |
| Change in net cash | 17.7 | 1,189.8 | |
| Cash at beginning of period | 1,920.6 | 730.8 | |
| Cash at end of period | 17 | 1,938.3 | 1,920.6 |