Investments

EUR million

 

2023

2022

2021 

2020

2019

2018

2017

2016

2015

2014

2013

(carve-out)

Cash flow provided by operating activities

352 36 482 532 295 284 291 246  78 236 -43

Gross capital expenditure (excluding business combinations and right-of-use assets) 

125 112 97 89 79 79  66 60  44 46 54

           of which share of maintenance investments, %

46 % 33% 40% 40% 77% 47%  56% 67%  82% 80% 76%

Proceeds from sale of fixed assets

6 2 2 1 6 6  2 2  3 4 4

Business combinations, net of cash acquired and loans repaid

-415 117 -15 -48 -163 -2  - -  -323 - -3

Cash flow after investing activities

-181 56 382 -60 58 208  227 188  -287 -194 -97

Gross capital expenditure (excluding business combinations and right-of-use-assets) by location, EUR million

Valmet gross capital expenditure