v3.26.3
Unaudited Condensed Consolidated Interim Statements of Cash Flows
€ in Millions
 9 Months Ended
Sep. 30, 2026
EUR (€)
Sep. 30, 2025
EUR (€)
Cash flows from operating activities    
Profit for the period € 144.0 € 147.4
Adjustments for:    
Exceptional items 26.8 48.9
Share based payments (credit)/expense (6.3) 6.7
Depreciation and amortization 76.7 79.9
(Profit)/loss on disposal and impairment of property, plant and equipment (0.5) 0.8
Net finance costs 82.4 74.2
Taxation 32.9 33.3
Operating cash flow before changes in working capital, provisions and exceptional items 356.0 391.2
Increase in inventories (53.3) (59.2)
Increase in trade and other receivables (98.2) (86.0)
Increase in trade and other payables 52.9 33.5
Decrease in employee benefits and other provisions (5.1) (2.2)
Cash generated from operations before tax and exceptional items 252.3 277.3
Payments relating to exceptional items (31.2) (48.4)
Receipts relating to exceptional items 2.4 0.0
Tax refunded 11.0 0.0
Tax paid (38.9) (54.7)
Net cash generated from operating activities 195.6 174.2
Cash flows from investing activities    
Purchase of property, plant and equipment and intangible assets (61.2) (59.6)
Interest received 4.2 4.5
Net cash used in investing activities (57.0) (55.1)
Cash flows from financing activities    
Repurchase of ordinary shares (23.7) (151.4)
Dividends paid, classified as financing activities (61.7) (69.7)
Payments related to shares withheld for taxes 0.4 6.7
Payment of lease liabilities (27.2) (25.7)
Payment of financing fees (14.4) (0.2)
Interest paid (60.4) (77.9)
Net cash used in financing activities (187.8) (331.6)
Net decrease in cash and cash equivalents (49.2) (212.5)
Cash and cash equivalents at beginning of period 275.6  
Cash and cash equivalents at beginning of period 324.8 403.3
Effect of exchange rate fluctuations 0.0 2.8
Cash and cash equivalents at end of period € 275.6 € 193.6