Cash flow from operations (excluding provision for the Flat Glass fines) came in 12.4% higher year-on-year, at €3,762 million. Before the tax impact of capital gains and losses and asset write-downs, cash flow from operations climbed 10%, to €3,712 million, compared with €3,374 million in 2006.

Capital expenditure edged up 3.7% to €2,273 million in 2007 (€2,191 million in 2006), and represented 5.2% of sales (5.3% in 2006). The Group continues to focus its investments on emerging countries (40% of growth investments) and on markets linked to energy efficiency (in particular Flat Glass and CP sectors, representing more than 50% of investment outlay).