Statement of Cash Flows

January 1 to December 31

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€ million

 

Notes

 

2019

 

2018

 

 

 

 

 

 

 

Net income for the year

 

 

 

-629.6

 

260.1

Depreciation / amortization and impairment losses/reversals of fixed assets

 

 

 

1,319.7

 

540.4

Result from disposal of fixed assets

 

 

 

5.9

 

3.7

Other non-cash expenses and income

 

 

 

45.2

 

66.2

Result from equity accounting

 

 

 

-54.3

 

-131.7

Net interest income

 

 

 

9.7

 

14.1

Interest paid

 

 

 

-19.3

 

-20.3

Interest received

 

 

 

10.6

 

9.5

Income tax expense

 

 

 

38.4

 

64.3

Taxes paid

 

 

 

-10.5

 

-152.0

Dividends received

 

 

 

48.8

 

23.1

Change in inventories

 

 

 

-9.1

 

-308.8

Change in trade receivables

 

 

 

52.0

 

-22.0

Change in non-financial assets

 

 

 

19.3

 

-0.3

Change in financial assets

 

 

 

-0.9

 

45.0

Change in provisions

 

 

 

-30.9

 

13.5

Change in non-financial liabilities

 

 

 

-76.3

 

-3.4

Change in financial liabilities

 

 

 

-82.9

 

150.0

Change in contract liabilities

 

 

 

-30.8

 

-41.8

Cash flow from operating activities (gross cash flow)

 

21

 

605.0

 

509.6

 

 

 

 

 

 

 

Investments in intangible assets, property, plant and equipment, and investment property

 

 

 

-415.1

 

-408.8

Investments in financial assets

 

 

 

-6.6

 

-0.1

Proceeds from the disposal of fixed assets

 

 

 

1.1

 

6.5

Cash payments for acquisitions

 

 

 

 

-21.0

Cash flow from long-term investing activities before securities

 

 

 

-420.6

 

-423.4

Cash receipts from the disposal of securities and fixed-term deposits

 

 

 

26.0

 

587.8

Cash payments for the acquisition of securities and fixed-term deposits

 

 

 

-88.9

 

-373.8

Cash flow from investing activities

 

21

 

-483.5

 

-209.4

 

 

 

 

 

 

 

Dividends paid

 

 

 

-124.2

 

-223.6

Dividends paid to non-controlling interests

 

 

 

-9.2

 

-4.7

Additions to financial liabilities

 

 

 

222.1

 

366.4

Repayment of financial liabilities

 

 

 

-80.1

 

-374.3

Lease liabilities repaid

 

 

 

-34.8

 

-4.3

Cash flow from financing activities

 

21

 

-26.2

 

-240.5

Change due to exchange-rate fluctuations

 

 

 

-0.6

 

-5.5

Change in cash and cash equivalents

 

11

 

94.7

 

54.2

At the beginning of the year

 

 

 

341.1

 

286.9

At the end of the year

 

 

 

435.8

 

341.1

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