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Consolidated Statement of Cash Flows - EUR (€)
€ in Millions
 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2019
Operating activities      
(Loss)/profit after tax € (1,015.1) € 648.7 € 885.0
Adjustments to reconcile profit after tax to net cash provided by operating activities      
Depreciation 571.0 748.7 640.5
(Increase)/decrease in inventories (0.3) (0.4) 0.8
Tax (credit)/expense on (loss)/profit (93.6) 21.6 63.1
Share-based payments 3.6 7.0 7.7
Decrease/(increase) in trade receivables 48.9 (8.1) (1.9)
Increase/(decrease) in other assets (3.5) 61.9 (2.1)
Decrease/(increase) in trade payables (407.6) 15.2 66.0
(Decrease)/increase in accrued expenses & other liabilities (1,318.8) (401.4) 198.6
(Decrease) in other creditors     (2.8)
(Decrease) in provisions (21.9) (55.7) (2.5)
Decrease/(increase) in finance income   2.9 (0.5)
(Decrease) in finance expense (3.7)   (1.5)
Gain on sale of associate     (6.0)
Share of associate losses     15.8
Hedge ineffectiveness/foreign exchange (294.1) 407.2  
Income tax refunded/(paid) 87.1 (120.5) (100.9)
Net cash (used in)/provided by operating activities (2,448.0) 1,327.1 1,759.3
Investing activities      
Capital expenditure - purchase of property, plant and equipment (294.7) (578.8) (1,288.5)
Supplier reimbursements for property, plant and equipment 377.6    
Proceeds from sale of property, plant and equipment 112.1    
Decrease/(increase) in restricted cash 0.3 0.5 (0.3)
Decrease in financial assets: cash > 3 months 741.7 277.2 646.1
Acquisition of subsidiary (net of cash acquired)     (86.5)
Investment in associate     (15.0)
Net cash provided by/(used in) investing activities 937.0 (301.1) (744.2)
Financing activities      
Shareholder returns (net of tax)   (580.5) (531.6)
Net proceeds from shares issued 421.0 19.1  
Proceeds from borrowings 2,228.6 750.0 99.9
Repayments of borrowings (950.3) (408.1) (422.8)
Lease liabilities paid (76.8) (67.5)  
Net cash provided by/(used in) financing activities 1,622.5 (287.0) (854.5)
Increase in cash and cash equivalents 111.5 739.0 160.6
Net foreign exchange differences (27.2) 151.8  
Cash and cash equivalents at beginning of year 2,566.4 1,675.6 1,515.0
Cash and cash equivalents at end of year 2,650.7 2,566.4 1,675.6
Interest income received 0.2 24.4 3.2
Interest expense paid € (59.2) € (74.3) € (60.6)