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Cash flows and net debt

Operating activities in Q2 2013 resulted in a cash inflow of €261 million (Q2 2012: €351 million). The change is mainly due to lower operating income and higher cash outflow from working capital. The movement in other changes related to a non-cash deferred tax gain, that was included in profit from continuing operations.

Net debt decreased from €2,888 million in Q1 2013 to €2,197 million in Q2 2013 as a consequence of the net impact of:

  • Cash inflow from discontinued operations of €779 million, mainly proceeds from the divestment of Decorative Paints North America.
  • Cash inflow from operating activities of €261 million.
  • Capital expenditures of €168 million.
  • Dividend payments of €178 million.
Copyright © 2013 Akzo Nobel N.V.