(in million €) 2018 2019
Profit (loss) from continuing operations 327,8 299,2
  Adjustments for profit of equity companies (6,7) (8,7)
  Adjustment for non-cash transactions 348,3 207,3
  Adjustments for items to disclose separately or under investing and financing cashflows 130,4 129,6
  Change in working capital requirement (708,0) (78,4)
Cashflow generated from operations 91,8 548,9
Dividend received 8,4 11,5
Tax paid during the period (127,4) (86,7)
Government grants received             -   5,4
Net operating cashflow (27,3) 479,2
     
  Acquisition of property, plant and equipment (466,0) (529,5)
  Acquisition of intangible assets (31,8) (58,4)
  Acquisition of new subsidiaries, net of cash acquired (24,2) (188,1)
  Acquisition in additional shareholdings in subsidiaries (123,4)             -  
  Acquisition of financial assets (2,5) (2,4)
  New loans extended (2,5) (0,1)
Sub-total acquisitions (650,3) (778,5)
  Disposal of property, plant and equipment 6,2 11,8
  Disposal of intangible assets 12,1 9,3
  Disposal of subsidiaries and associates, net of cash disposed 35,7 0,9
  Disposal of financial fixed assets 17,4             -  
  Repayment of loans 3,6 6,4
  Internal transfers (1,6)             -  
Sub-total disposals 73,4 28,5
Net cashflow generated by (used in) investing activities (577,0) (750,0)
     
  Capital increase 881,4             -  
  Capital increase (decrease) minority 10,8 15,5
  Own shares (79,3) (29,0)
  Change in lease liability (16,5)
  Interest received  5,9 4,6
  Interest paid (37,6) (44,2)
  New loans and repayments 120,3 517,1
  Dividends paid to Umicore shareholders (175,3) (186,4)
  Dividends paid to minority shareholders (20,1) (11,2)
Net cashflow generated by (used in) financing activities 706,0 249,9
     
Effect of exchange rate fluctuations (0,5) 3,0
     
Total net cashflow of the period 101,2 (17,9)
     
Net cash and cash equivalents at the beginning of the period for continuing operations 155,9 257,1
Net cash and cash equivalents at the end of the period for continuing operations 257,1 239,2
     
of which cash and cash equivalents 285,1 271,7
of which bank overdrafts (28,0) (32,5)