> Cash flow statements
<31>
(In euro million)
As of 31 January 2003
As of 31 January 2002
Net income
69.7
38.1
Fixed and intangible assets depreciation
66.4
45.5
Goodwill amortization
5.7
4.4
Provisions for risks and contingencies
0.4
0.6
Other items
(9.3)
(2.2)
Profits and losses on sales of fixed assets
0.1
1.8
Funds generated from operations
133.0
88.2
(Increase) decrease in inventories
4.6
3.5
(Increase) decrease in accounts receivable
11.1
(0.8)
Increase (decrease) in accounts payable
(23.2)
13.2
Increase (decrease) in other payables and receivables
3.7
9.4
Net change in lease debt and receivables
7.9
(9.9)
Operating cash flows (A)
137.1
103.6
Production and acquisition of fixed assets
(47.1)
(55.6)
Investments in intangible assets
(2.7)
(2.7)
Financial investments
(254.8)
(9.2)
Sub-total investments
(304.6)
(67.5)
Sales of fixed assets
1.0
0.4
Sales of financial assets
1.1
0.0
Repayment of long-term loans
-
-
Cash flow from investing activities (B)
(302.5)
(67.1)
Increase in shareholders capital
-
-
Dividends
-
-
New long-term borrowings
152.0
0.0
Repayment of long-term borrowings
(4.1)
(5.8)
Net change in other financial debts and accrued interests
4.6
2.6
Cash flow from financing activities (C)
152.5
(3.2)
Effect of unrealised foreign exchange gains
and losses on cash and cash equivalents (D)
(1.8)
0.4
Change in net cash and cash equivalents (A)+(B)+(C)+(D)
(14.7)
33.7
Opening cash and cash equivalents
112.4
78.7
Closing cash and cash equivalents
97.7
112.4
The following notes are an integral part of these consolidated financial statements.
Consolidated financial statements
