financial report and registration document 2011 - Groupe SEB

5 Financial
Consolidated fi nancial statements
statements
Consolidated cash fl ow statement
Years ended 31 December
(in € millions) 2011 2010 2009
PROFIT ATTRIBUTABLE TO OWNERS OF THE PARENT 234.6 220.4 146.0
Depreciation, amortisation and impairment losses (Notes 10 and 11) 113.0 117.6 123.6
Change in provisions (Note 21) (14.4) (4.2) 17.6
Unrealised gains and losses on fi nancial instruments (Note 25) 7.5 (8.4) 7.1
Income and expenses related to stock options (Note 19.2) 5.0 6.2 6.0
Gains and losses on disposals of assets (14.0) 1.8 0.4
Other 0.1 0.1
Non-controlling interests (Note 20) 26.4 23.2 16.8
Current and deferred taxes (Note 8) 112.4 89.4 58.1
Finance costs, net (Note 7) 20.1 12.0 22.6
CASH FLOW (a) 490.4 458.0 398.3
Change in inventories (Note 15) (41.9) (138.6) 155.9
Change in trade receivables (Note 16) (83.1) (67.4) 31.3
Change in trade payables (Note 23) 9.6 82.1 28.1
Change in other receivables and payables (Notes 17 and 23) (23.4) 35.0 24.8
Income taxes paid (89.7) (100.9) (58.3)
Interest paid, net (20.1) (12) (22.5)
NET CASH FROM OPERATING ACTIVITIES 241.8 256.1 557.6
Proceeds from disposals of assets (Note 11) 21.7 20.9 6.5
Purchases of property, plant and equipment (Note 11) (111.9) (120.6) (92.2)
Purchases of software and other intangible assets (Note 10) (18.6) (20.2) (17.0)
Purchases of fi nancial assets (Note 13) (1.0) 0.3 0.4
Acquisitions of subsidiaries, net of the cash acquired (Note 2) (103.1) 0.0
Effect of other changes in scope of consolidation (Note 2) 0.1
NET CASH USED BY INVESTING ACTIVITIES (212.9) (119.6) (102.2)
Change in long-term borrowings (Note 24) 332.2 (99.3) 87.6
Change in short-term borrowings (Note 24) 101.3 (80.1) (419.4)
Transactions between owners (Note 20) (407.9) 0.7
Change in treasury stock (Note 19.4) (34.4) 33.4 8.8
Dividends paid, including to non-controlling shareholders (66.8) (55.9) (50.2)
NET CASH USED BY FINANCING ACTIVITIES (75.7) (201.9) (372.5)
Effect of changes in foreign exchange rates 6.1 (5.8) 0.3
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (40.7) (71.2) 83.2
Cash and cash equivalents at beginning of period (Note 18) 236.6 307.8 224.6
Cash and cash equivalents at end of period (Note 18) 196.0 236.6 307.8
(a) Before interest paid, net and income taxes paid.
80 GROUPE SEB Financial Report and Registration Document 2011