2.4 Consolidated statement of cash flows

2.4 Consolidated statement of cash flows

For the year ended 31 December

 

 

 

€ million

Note

2019

2018

Profit for the year attributable to UCB shareholders

 

792

800

Non-controlling interests

 

25

24

Adjustment for profit (−)/loss from discontinued operations

8

−1

−11

Adjustment for profit (−)/loss from associates

 

1

1

Adjustment for non-cash transactions

36

231

254

Adjustment for items to disclose separately under operating cash flow

36

144

202

Adjustment for items to disclose under investing and financing cash flows

36

−7

2

Change in working capital

36

−232

−35

Interest received

16

18

20

Cash flow generated from operations

 

971

1 257

Tax paid during the period

 

−89

−168

Net cash flow used in (−)/generated by operating activities:

 

 

 

From continuing operations

 

893

1 098

From discontinued operations

 

−11

−9

Net cash flow generated by operating activities

 

882

1 089

Acquisition of property, plant and equipment

21

−99

−94

Acquisition of intangible assets

19

−195

−247

Acquisition of subsidiaries, net of cash acquired

 

0

−13

Acquisition of other investments

 

−20

−21

Sub-total acquisitions

 

−314

−375

Proceeds from sale of property, plant and equipment

 

31

1

Proceeds from sale of other activities, net of cash disposed

 

41

52

Proceeds from sale of other investments

 

7

2

Sub-total disposals

 

79

55

Net cash flow used in (−)/generated by investing activities:

 

 

 

From continuing operations

 

−235

−320

From discontinued operations

 

0

0

Net cash flow used in (−)/generated by investing activities:

 

−235

−320

Repayment of bonds (−)

29.3

−75

0

Proceeds from borrowings

28

0

8

Repayments of borrowings (−)

28

−118

−177

Payment of lease liabilities

28

−48

−33

Acquisition (−) of treasury shares

26

−77

−51

Dividend paid to UCB shareholders, net of dividend paid on own shares

26.2, 41

−228

−222

Interest paid

16

−59

−63

Net cash flow used in (−)/generated by financing activities:

 

 

 

From continuing operations

 

−605

−538

From discontinued operations

 

0

0

Net cash flow used in (−) financing activities

 

−605

−538

Net increase/decrease (−) in cash and cash equivalents

 

42

231

From continuing operations

 

53

240

From discontinued operations

 

−11

−9

Net cash and cash equivalents at the beginning of the period

 

1 237

1 022

Effect of exchange rate fluctuations

 

9

−16

Net cash and cash equivalents at the end of the period

 

1 288

1 237