(in million €) 2016 2017
Profit (loss) from continuing operations 191.7 229.1
Adjustments for profit of equity companies (16.8) (29.6)
Adjustment for non-cash transactions 188.9 190.7
Adjustments for items to disclose separately or under investing and financing cashflows 66.7 98.3
Change in working capital requirement 13.3 (275.5)
Cashflow generated from operations 443.8 213.1
Dividend received 8.5 15.3
Tax paid during the period (65.3) (74.4)
Government grants received (2.3) (0.6)
Net operating cashflow 384.7 153.3
Acquisition of property, plant and equipment (207.0) (351.1)
Acquisition of intangible assets (80.8) (25.6)
Acquisition of new subsidiaries, net of cash acquired - (211.5)
Acquisition of financial assets (8.6) (0.1)
New loans extended (13.0) (9.9)
Sub-total acquisitions (309.3) (598.2)
Disposal of property, plant and equipment 4.3 5.4
Disposal of intangible assets 0.8 1.4
Disposal of subsidiaries and associates, net of cash disposed 138.6 74.2
Disposal of financial fixed assets 5.5 0.4
Repayment of loans 0.8 20.0
Internal transfers (49.3) -
Sub-total disposals 100.7 101.5
Net cashflow generated by (used in) investing activities (208.6) (496.7)
Capital increase (decrease) minority - 0.4
Own shares 38.0 6.0
Interest received 3.3 4.0
Interest paid (9.7) (18.4)
New loans and repayments 6.5 562.1
Dividends paid to Umicore shareholders (138.3) (150.7)
Dividends paid to minority shareholders (4.7) (5.6)
Net cashflow generated by (used in) financing activities (104.9) 397.8
Effect of exchange rate fluctuations 1.4 14.0
Total net cashflow of the period 72.6 68.4
Net cash and cash equivalents at the beginning of the period for continuing operations 66.2 71.3
Impact of financing discontinued operations (67.5) 16.2
Net cash and cash equivalents at the end of the period for continuing operations 71.3 155.9
Cash for discontinued operations 45.3 -
of which cash and cash equivalents 129.8 168.1
of which bank overdrafts (13.2) (12.2)