Consolidated cash flow statement (Note 26)
x € million |
|
2020 |
|
2019 |
||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
||||||
Operating activities |
|
|
|
|
||||||
Net profit for the year |
|
508 |
|
764 |
||||||
Share of the profit of associates and joint ventures (including discontinued operations)1 |
|
32 |
|
(54) |
||||||
Income tax (including discontinued operations)1 |
|
129 |
|
152 |
||||||
Profit before income tax expense (including discontinued operations)1 |
|
669 |
|
862 |
||||||
Financial income and expense (including discontinued operations)1 |
|
67 |
|
92 |
||||||
Operating profit (including discontinued operations)1 |
|
736 |
|
954 |
||||||
Depreciation, amortization and impairments (including discontinued operations)1 |
|
740 |
|
632 |
||||||
EBITDA (including discontinued operations)1 |
|
1,476 |
|
1,586 |
||||||
|
|
|
|
|
||||||
Adjustments for: |
|
|
|
|
||||||
- (Gain) or loss from disposals |
|
4 |
|
(4) |
||||||
- Acquisition / divestment related in EBITDA |
|
55 |
|
13 |
||||||
- Change in provisions |
|
10 |
|
26 |
||||||
- Defined benefit plans |
|
(13) |
|
(39) |
||||||
Adjustments for EBITDA |
|
56 |
|
(4) |
||||||
|
|
|
|
|
||||||
Income tax received |
|
11 |
|
9 |
||||||
Income tax paid |
|
(135) |
|
(149) |
||||||
Share-based compensation |
|
29 |
|
34 |
||||||
Contract settlements and other non-cash items |
|
13 |
|
(70) |
||||||
Other |
|
19 |
|
(8) |
||||||
Adjustments for non-EBITDA |
|
(63) |
|
(184) |
||||||
Operating cash flow before changes in working capital |
|
1,469 |
|
1,398 |
||||||
|
|
|
|
|
||||||
Changes in operating working capital: |
|
|
|
|
||||||
Inventories |
|
(36) |
|
114 |
||||||
Trade receivables |
|
(4) |
|
59 |
||||||
Trade payables |
|
48 |
|
(121) |
||||||
Changes in inventories, trade receivables and trade payables |
|
8 |
|
52 |
||||||
Changes in non-operating working capital |
|
17 |
|
(65) |
||||||
Changes in working capital |
|
25 |
|
(13) |
||||||
Cash provided by operating activities |
|
1,494 |
|
1,385 |
||||||
|
|
|
|
|
||||||
Investing activities |
|
|
|
|
||||||
Capital expenditure for:2 |
|
|
|
|
||||||
- Intangible assets |
|
(151) |
|
(107) |
||||||
- Property, plant and equipment |
|
(458) |
|
(520) |
||||||
Payments regarding drawing rights |
|
(17) |
|
(14) |
||||||
Proceeds from disposal of property, plant and equipment |
|
1 |
|
6 |
||||||
Acquisition of subsidiaries and associates |
|
(1,533) |
|
(556) |
||||||
Disposal of subsidiaries, businesses and associates |
|
(2) |
|
37 |
||||||
Additions to fixed-term deposits |
|
(468) |
|
(1,195) |
||||||
Withdrawal from fixed-term deposits |
|
1,114 |
|
1,783 |
||||||
Interest received |
|
8 |
|
10 |
||||||
Other financial assets: |
|
|
|
|
||||||
- Capital payments and acquisitions |
|
(20) |
|
(53) |
||||||
- Dividends received |
|
5 |
|
75 |
||||||
- Additions to loans granted |
|
(9) |
|
(17) |
||||||
- Repayment of loans granted |
|
1 |
|
25 |
||||||
- Proceeds from disposals |
|
47 |
|
1 |
||||||
Cash from / (used in) investing activities |
|
(1,482) |
|
(525) |
||||||
|
|
|
|
|
||||||
Financing activities |
|
|
|
|
||||||
Capital payments from / to non-controlling interests |
|
(30) |
|
1 |
||||||
Loans taken up |
|
1,123 |
|
7 |
||||||
Repayment of loans |
|
(268) |
|
(302) |
||||||
Payments of lease liabilities |
|
(55) |
|
(53) |
||||||
Change in debt to credit institutions |
|
(95) |
|
57 |
||||||
Dividend paid |
|
(289) |
|
(291) |
||||||
Interest paid |
|
(54) |
|
(57) |
||||||
Proceeds from reissued treasury shares |
|
63 |
|
180 |
||||||
Repurchase of shares |
|
(309) |
|
(869) |
||||||
Other |
|
(3) |
|
(5) |
||||||
Cash (used in) / from financing activities |
|
83 |
|
(1,332) |
||||||
|
|
|
|
|
||||||
Change in cash and cash equivalents |
|
95 |
|
(472) |
||||||
|
|
|
|
|
||||||
Cash and cash equivalents at 1 January |
|
800 |
|
1,281 |
||||||
Exchange differences relating to cash held |
|
(24) |
|
(9) |
||||||
Cash and cash equivalents at 31 December |
|
871 |
|
800 |
||||||
|
||||||||||