Financial statement - Consolidated results

Statement of cash flows

	For the year ended 31 December 2024 current period	For the year ended 31 December 2023 previous period
Cash flows from operating activities
Profit before tax	251 319	321 684
Income tax paid	-107 765	-70 714
Adjustments for:
Depreciation, liquidation and write-downs	228 488	209 649
Loss on investing activity	141	2 134
Interest and dividends	-46 328	-33 772
Change in trade receivables and other financial receivables	171 152	-298 272
Change in other assets	-4 931	5 684
Change in inventories	100 647	-115 260
Change in carbon-dioxide emission rights acquired for redemption	-19 292	55 478
Change in trade payables and other financial and non-financial liabilities except for loans and borrowings	284 357	880 982
Change in deferred income and government grants	-6 330	-6 792
Change in employee benefits	2 840	2 273
Change in provision	-3 575	-341 163
Net cash from operating activities	850 723	611 911
Cash flows from investing activities
Proceeds from disposal of intangible and tangible fixed assets	213	300
Receipt of lease instalments and interest	325	349
Interest received under cash pooling	47 235	39 673
Funds transferred under cash pooling	-134 446	-362 114
Purchases of intangible assets and property, plant and equipment	-284 202	-585 422
Purchases of financial assets	-	-10 009
Other disbursements	-505	-310
Net cash from investing activities	-370 380	-917 533
Cash flows from financing activities
Proceeds from loans	-476 461	311 417
Receipts from cash pooling	-1 097	-878
Grants received	6 859	34 290
Repayment of lease liabilities	-11 294	-10 100
Net cash from financing activities	-481 993	334 729
Total net cash flows	-2 650	29 107
Net change in cash and cash equivalents	-2 650	29 107
Cash and cash equivalents at the beginning of the period	34 277	5 170
Cash and cash equivalents at the end of the period	31 627	34 277