| Cash flows from operating activities: |
|
|
|
| Profit before income tax |
|
357.7 |
585.3 |
|
|
|
|
| Adjustments to reconcile profit before taxation to net cash provided by operating activities:
|
|
|
|
| Depreciation and amortisation |
22, 23
|
269.1 |
221.1 |
| Change in impairment allowance for bad and doubtful debts |
14
|
12.3 |
23.1 |
| Accounts receivable write off |
9
|
12.3 |
5.0 |
| Change in impairment allowance for obsolete inventory |
|
(0.5) |
1.8 |
| Change in impairment of property, plant and equipment |
22
|
(0.3) |
(2.8) |
| Non-cash operations, related to assets held for sale |
|
— |
19.1 |
| Loss on disposal of property, plant and equipment |
|
9.3 |
15.2 |
| Accounts payable write off |
9
|
(9.2) |
(5.2) |
| Share of results in equity accounted investments |
18
|
(0.3) |
(0.9) |
| Loss/(gain) on disposal and impairment of investments |
10
|
10.0 |
(424.0) |
| Change in tax and legal provisions |
29
|
(1.7) |
(8.2) |
| Loss/(gain) on revaluation of hedging instrument |
10
|
33.0 |
(1.5) |
| Interest expense |
10
|
110.9 |
130.4 |
| Unrealised foreign exchange (gain)/loss |
10
|
(89.2) |
113.8 |
| VAT write off |
9
|
3.3 |
4.4 |
| VAT recovery |
9
|
— |
(55.1) |
| Share based payment reserve |
38
|
0.2 |
4.9 |
| Decrease in other provisions and other assets impairments |
|
(1.7) |
(1.3) |
| Custom duty recovery |
9
|
— |
(38.9) |
| Other non-cash income |
|
(4.7) |
(1.6) |
| Other finance (income)/expense, net |
|
(48.4) |
— |
| Gain on hedging instrument, net |
|
(2.1) |
— |
| Dividend income |
|
(3.6) |
(0.6) |
| Goodwill write off |
9
|
43.6 |
— |
| Operating profit before working capital changes |
|
700.0 |
584.0 |
| Change in accounts receivable and prepayments and other non-current assets |
|
(216.1) |
(207.2) |
| Change in expendable spare parts and inventories |
|
(44.9) |
(13.3) |
| Change in accounts payable and accrued liabilities |
|
232.7 |
131.0 |
|
|
671.7 |
494.5 |
| Income tax paid |
|
(153.0) |
(125.7) |
| Income tax received |
|
21.9 |
0.4 |
| Net cash flows from operating activities |
|
540.6 |
369.2 |
| Cash flows from investing activities: |
|
|
|
| Proceeds from sale of investments |
|
23.0 |
14.0 |
| Purchases of investments |
|
(12.7) |
(17.8) |
| Proceeds from sale of equity accounted investments |
|
1.8 |
78.9 |
| Proceeds from sale of subsidiary company, net |
|
36.2 |
89.1 |
| Proceeds from sale of property, plant and equipment |
|
87.5 |
6.8 |
| Purchases of property, plant and equipment and intangible assets |
|
(167.1) |
(128.2) |
| Dividends received |
|
3.4 |
1.0 |
| Predelivery lease prepayments, net |
|
68.4 |
(478.0) |
| Net cash flows used in investing activities |
|
40.5 |
(434.2) |
| Cash flows from financing activities: |
|
|
|
| Proceeds from borrowings |
|
605.5 |
530.5 |
| Repayment of borrowing |
|
(703.9) |
(389.6) |
| Sale of treasury stock |
|
9.9 |
17.0 |
| Purchases of treasury stock |
|
(0.2) |
(102.9) |
| Repayment of the principal element of finance lease liabilities |
|
(291.9) |
(122.6) |
| Interest paid |
|
(75.3) |
(100.4) |
| Dividends paid |
|
(62.2) |
(35.5) |
| Proceeds from hedging instrument |
|
16.5 |
14.3 |
| Net cash flows used in financing activities |
|
(501.6) |
(189.2) |
| Effect of exchange rate fluctuations |
|
23.6 |
(13.1) |
| Net increase/(decrease) in cash and cash equivalents |
|
103.1 |
(267.3) |
| Cash and cash equivalents at the beginning of the year |
|
393.1 |
660.4 |
| Cash and cash equivalents at the end of the year |
12
|
496.2 |
393.1 |
| Supplemental cash flow information: |
|
|
|
| Interest received |
10
|
13.9 |
14.8 |
| Non-cash investing and financing activities: |
|
|
|
| Property, plant and equipment acquired under finance leases |
|
685.2 |
292.8 |
