(in million €) H1 2018 H2 2018 H1 2019
Profit (loss) from continuing operations 168,0 159,8 151,4
  Adjustments for profit of equity companies (7,1) 0,4 (6,0)
  Adjustment for non-cash transactions 213,6 134,7 94,3
  Adjustments for items to disclose separately or under investing and financing cashflows 63,0 67,4 58,3
  Change in working capital requirement (335,2) (372,8) 10,4
Cashflow generated from operations 102,3 (10,6) 308,4
Dividend received 0,0 8,4 1,9
Tax paid during the period (70,8) (56,6) (64,8)
Government grants received (0,2) 0,2 0,1
Net operating cashflow 31,3 (58,6) 245,6
       
  Acquisition of property, plant and equipment (195,6) (270,4) (234,8)
  Acquisition of intangible assets (10,9) (20,9) (23,2)
  Acquisition of new subsidiaries, net of cash acquired (24,8) 0,6                -  
  Acquisition in additional shareholdings in subsidiaries (123,4)                -                  -  
  Acquisition of financial assets                -   (2,5) (0,6)
  New loans extended (1,1) (1,4) (0,1)
Sub-total acquisitions (355,8) (294,5) (258,6)
  Disposal of property, plant and equipment 2,1 4,1 5,8
  Disposal of intangible assets                -   12,1                -  
  Disposal of subsidiaries and associates, net of cash disposed 35,7                -   0,9
  Disposal of financial fixed assets 16,9 0,5                -  
  Repayment of loans 1,7 1,9 3,6
  Internal transfer (1,6) 0,0 0,0
Sub-total disposals 54,8 18,5 10,3
Net cashflow generated by (used in) investing activities (300,9) (276,0) (248,3)
       
  Capital increase 881,4 0,0                -  
  Capital increase (decrease) minority                -   10,8 0,2
  Own shares (72,1) (7,2) (33,3)
  Lease liability change                -                  -   (6,8)
   Interest received   2,3 3,6 2,1
  Interest paid (19,8) (17,8) (22,8)
  New loans and repayments 47,4 72,9 168,8
  Dividends paid to Umicore shareholders (91,0) (84,4) (96,1)
  Dividends paid to minority shareholders (18,2) (1,9) (3,5)
Net cashflow generated by (used in) financing activities 730,0 (24,0) 8,6
       
Effect of exchange rate fluctuations 0,6 (1,1) 3,8
       
Total net cashflow of the period 461,0 (359,8) 9,7
       
       
Net cash and cash equivalents at the beginning of the period for continuing operations 155,9 616,9 257,1
Net cash and cash equivalents at the end of the period for continuing operations 616,9 257,1 266,8
       
of which cash and cash equivalents 630,4 285,1 320,9
of which bank overdrafts (13,5) (28,0) (54,1)