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CONSOLIDATED STATEMENT OF CASH FLOWS - EUR (€)
€ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Statement of cash flows [abstract]      
Net income € 129 € 308 € 262
Adjustments      
Depreciation and amortization 294 287 267
Pension and other post-employment benefits service costs 23 (22) 64
Finance costs - net 141 131 167
Income tax expense / (benefit) 67 (105) 55
Unrealized losses / (gains) on derivatives - net and from remeasurement of monetary assets and liabilities - net 5 47 (36)
(Gains) / losses on disposal (29) 4 3
Other - net 20 17 11
Change in working capital      
Inventories 194 (241) (435)
Trade receivables 55 155 (227)
Trade payables (190) 41 396
Other (5) 13 5
Change in provisions (5) (10) (7)
Pension and other post-employment benefits paid (39) (44) (43)
Interest paid (123) (113) (128)
Income tax (paid) / refunded (31) (17) 3
Net cash flows from operating activities 506 451 357
Purchases of property, plant and equipment (337) (273) (232)
Property, plant and equipment grants received 1 4 10
Proceeds from disposals, net of cash 48 0 1
Other investing activities 0 (1) 0
Net cash flows used in investing activities (288) (270) (221)
Proceeds from issuance of long-term borrowings 0 0 712
Repayments of long-term borrowings (53) (192) (1,052)
Net change in revolving credit facilities and short-term borrowings (83) 72 (5)
Lease repayments (37) (37) (32)
Payment of financing costs and redemption fees 0 (1) (30)
Transactions with non-controlling interests (3) (2) (2)
Other financing activities (6) (3) (26)
Net cash flows used in financing activities (182) (163) (435)
Net increase / (decrease) in cash and cash equivalents 36 18 (299)
Cash and cash equivalents - beginning of year 166 147 439
Transfer of cash and cash equivalents from / (to) assets classified as held for sale 1 (1) 0
Effect of exchange rate changes on cash and cash equivalents (1) 2 7
Cash and cash equivalents - end of year € 202 € 166 € 147