ANNUAL REPORT 2006-2007

ENSURING GOVERNANCE AND TRANSPARENCY SODEXO AROUND THE WORLD
> Financial Summary
CONSOLIDATED CASH FLOW STATEMENT
IFRS Fiscal 2007 Fiscal 2006 Fiscal 2005
Operating activities
(in millions
of dollars)
(in millions
of euro)
(in millions
of euro)
(in millions
of euro)
Operating profi t 846 640 605 450
Elimination of non-cash and non-operating items
Depreciation and amortization 246 186 164 168
Provisions (1) (1) (34) 62
Losses/(gains) on disposal and other 4 3 (21) 5
Dividends received from associates 5 4 1 0
Change in working capital
from operating activities
249 188 40 231
Interest paid (149) (113) (114) (122)
Interest received 40 30 18 19
Income tax paid (243) (184) (171) (136)
Net cash provided by operating activities 997 753 488 677
Investing activities
Capital expenditure net of disposal (276) (208) (190) (146)
Change in fi nancial assets 3 2 (15) 5
Effect of acquisitions of subsidiaries,
net of disposals
(20) (15) (5) (6)
Net cash used in investing activities (293) (221) (210) (147)
Financing activities
Dividends paid to shareholders (210) (159) (127) (117)
Change in shareholders’ equity (81) (61) (4) (13)
Proceeds from borrowings 693 524 23 464
Repayment of borrowings (592) (448) (71) (718)
Net cash used in fi nancing activities (190) (144) (179) (384)
CHANGE IN NET CASH AND CASH EQUIVALENTS 514 388 99 146
Net effect of exchange rates
and other effects on cash
(22) (17) (21) 23
Net cash and cash equivalents
at beginning of period
1,330 1,006 928 759
NET CASH AND CASH EQUIVALENTS
AT END OF PERIOD
1,822 1,377 1,006 928
Calculated at the average exchange rate for Fiscal 2007: 1 euro = 1.32194 U.S. dollar.
Sodexo_Annual Report 2006-2007
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