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Consolidated statement of cash flows

For the year ended 31 December (EUR million)

Operational activities
Operating profit900439
Non-cash adjustments to reconcile profit to net cash flows:
Depreciation, amortisation and impairment of assets4.1, 5.1629596
Result on disposal of assets4.1-7
Gain on acquistion of subsidiary5.2-3
Share in profit of joint ventures and associates5.3-72-78
Dividends received from joint ventures and associates5.35488
Increase/(decrease) in deferred income4.2210
Movements in provisions and other (financial) liabilities and assets-6628
Working capital adjustments excluding EEG working capital:
(Increase)/decrease in account- and other receivables5.5-2745
(Increase)/decrease in inventories-4-41
Increase/(decrease) in account- and other payables5.6379-214
Increase/(decrease) in current financial liabilities724
Income tax paid (net)-181-211
Net cash flows from operating activities excluding EEG working capital1,364646
EEG working capital adjustments:
(Increase)/decrease in EEG receivables5.5-94-86
Increase/(decrease) in EEG payables5.6325-9
Net cash flows from operating activities1,595551
Investing activities
Purchase of tangible and intangible fixed assets4.1, 5.1-1,762-1,796
Proceeds from sale of tangible and intangible fixed assets4.1, 5.13
Acquisition of a subsidiary, net of cash acquired5.2-5
Capital contribution to joint ventures and associates5.3-72-37
Proceeds from repayment of financial assets
Interest received2
Net cash flows used in investing activities-1,837-1,830
Financing activities
Net financing
Proceeds from borrowings6.31,3703,213
Repayment of borrowings6.3-1,127-395
Other financing activities
Interest paid-151-119
Dividends paid to ordinary shareholders of the company6.2.1-146-196
Proceeds from capital contributions6.2.1150
Repayment of hybrid securities6.2.1-500
Proceeds from issue of hybrid securities6.2.1997
Distribution on hybrid securities6.2.1-37-33
Dividends paid and capital repayments to non-controlling interests6.2.2-205-66
Proceeds from capital contributions by non-controlling interests6.2.2156
Net cash flows from financing activities3662,410
Net change in cash and cash equivalents1241,131
Cash and cash equivalents at 31 December6.41,2901,166
Cash and cash equivalents at 1 January6.41,16635