I
Cash Flow Statement and
Balance Sheet
Net cash provided by operating
activities
Free cash flow
Net debt
NON-GAAP MEASURES
PERFORMANCE
In 2014, net cash provided by operating
activities was €1 147 million, a decrease of
€38 million compared to 2013, mainly as a
result of lower EBITDA (€93 million, both from
continuing and discontinued operations),
higher tax payments (€26 million), partially off
set by a favorable change in operating assets
and liabilities (€76 million).
As a result of capital expenditures of €606 mil
lion (€565 million in 2013), €167 million of
proceeds related to divestitures and contin
ued working capital control, we generated
€757 million free cash flow in 2014 (€669 mil
lion in 2013).
Compared to year-end 2013, net debt
decreased by €476 million to €1.0 billion
mainly as a result of €757 million of free cash
flow generation which was partially offset by
the payment of the dividend in the second
quarter and the strengthening of the U.S.
dollar.
In its financial communication, Delhaize Group uses certain measures
that have no definition under IFRS or other generally accepted
accounting standards (non-GAAP measures). Delhaize Group does
not represent these measures as alternative measures to net profit
or other financial measures determined in accordance with IFRS.
These measures as reported by Delhaize Group might differ from
similarly titled measures by other companies. We believe that these
measures are important indicators for our business and are widely
used by investors, analysts and other parties. A reconciliation of
these measures to IFRS measures can be found in the chapter
"Supplementary Information" of the Financial Statements
(http://annualreport.delhaizegroup.com). A definition of non-GAAP
measures and ratios composed of non-GAAP measures can be found
in the glossary. The non-GAAP measures provided in this report have
not been audited by the statutory auditor.
DEBT MATURITY PROFILE™ (AFTER SWAPS)
(IN MILLIONS OF
8 371 400 247 400 10 58 229 681
llil
2015 2016 2017 2018 2019 2020 2024 2027 2031 2040
I Excluding finance leases; principal payments (related premiums and discounts not
taken into account) after effect of cross-currency interest rate swaps.
