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UNAUDITED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS - EUR (€)
€ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Statement of cash flows [abstract]    
Net income € 88 € 54
Adjustments    
Depreciation and amortization 145 144
Pension and other post-employment benefits service costs 10 11
Finance costs - net 65 70
Income tax expense 32 17
Unrealized (gains) / losses on derivatives - net and from remeasurement of monetary assets and liabilities - net (2) 28
Losses on disposal 1 6
Other - net 12 10
Change in working capital    
Inventories (23) 150
Trade receivables (186) (224)
Trade payables 153 (14)
Other 10 6
Change in provisions (2) (2)
Pension and other post-employment benefits paid (20) (19)
Interest paid (56) (63)
Income tax paid (21) (7)
Net cash flows from operating activities 206 167
Purchases of property, plant and equipment (146) (134)
Property, plant and equipment grants received 7 1
Net cash flows used in investing activities (139) (133)
Repurchase of ordinary shares (37) 0
Repayments of long-term borrowings (4) (5)
Net change in revolving credit facilities and short-term borrowings 0 7
Lease repayments (13) (16)
Transactions with non-controlling interests (3) (3)
Other financing activities 1 (2)
Net cash flows used in financing activities (56) (19)
Net increase in cash and cash equivalents 11 15
Cash and cash equivalents - beginning of year 202 166
Transfer of cash and cash equivalents from assets classified as held for sale 0 (1)
Effect of exchange rate changes on cash and cash equivalents 0 (2)
Cash and cash equivalents - end of period € 213 € 178