Consolidated cash flow statement (Note 26)
x € million |
|
2022 |
|
2021 |
||||
|
|
|
|
|
||||
Operating activities |
|
|
|
|
||||
Net profit for the year |
|
1,715 |
|
1,680 |
||||
Share of the profit of associates and joint ventures (including discontinued operations)1 |
|
(5) |
|
(342) |
||||
Income tax (including discontinued operations)1 |
|
190 |
|
245 |
||||
Profit before income tax expense (including discontinued operations)1 |
|
1,900 |
|
1,583 |
||||
Financial income and expense (including discontinued operations)1 |
|
94 |
|
106 |
||||
Operating profit (including discontinued operations)1 |
|
1,994 |
|
1,689 |
||||
Depreciation, amortization and impairments (including discontinued operations)1 |
|
652 |
|
681 |
||||
EBITDA (including discontinued operations)1 |
|
2,646 |
|
2,370 |
||||
|
|
|
|
|
||||
Adjustments for: |
|
|
|
|
||||
- (Gain) or loss from disposals |
|
(1,024) |
|
(649) |
||||
- Acquisition-/divestment-related in EBITDA |
|
4 |
|
22 |
||||
- Change in provisions |
|
(33) |
|
(20) |
||||
- Defined benefit plans |
|
(15) |
|
(39) |
||||
Adjustments for EBITDA |
|
(1,068) |
|
(686) |
||||
|
|
|
|
|
||||
Income tax received |
|
35 |
|
23 |
||||
Income tax paid |
|
(166) |
|
(156) |
||||
Share-based compensation |
|
34 |
|
22 |
||||
Other |
|
(19) |
|
(2) |
||||
Adjustments for non-EBITDA |
|
(116) |
|
(113) |
||||
Operating cash flow before changes in working capital |
|
1,462 |
|
1,571 |
||||
|
|
|
|
|
||||
Changes in operating working capital: |
|
|
|
|
||||
Inventories |
|
(442) |
|
(323) |
||||
Trade receivables |
|
(133) |
|
(194) |
||||
Trade payables |
|
116 |
|
334 |
||||
Changes in inventories, trade receivables and trade payables |
|
(459) |
|
(183) |
||||
Changes in non-operating working capital |
|
(38) |
|
39 |
||||
Changes in working capital |
|
(497) |
|
(144) |
||||
Cash provided by operating activities |
|
965 |
|
1,427 |
||||
|
|
|
|
|
||||
Investing activities |
|
|
|
|
||||
Capital expenditure for: |
|
|
|
|
||||
- Intangible assets |
|
(138) |
|
(137) |
||||
- Property, plant and equipment |
|
(506) |
|
(433) |
||||
Payments regarding drawing rights |
|
(7) |
|
(7) |
||||
Proceeds from disposal of property, plant and equipment |
|
17 |
|
27 |
||||
Acquisition of subsidiaries and associates |
|
(74) |
|
(704) |
||||
Disposal of subsidiaries, businesses and associates |
|
1,366 |
|
1,791 |
||||
Additions to fixed-term deposits |
|
(638) |
|
(2,070) |
||||
Withdrawal from fixed-term deposits |
|
1,001 |
|
1,625 |
||||
Interest received |
|
6 |
|
5 |
||||
Other financial assets: |
|
|
|
|
||||
- Capital payments and acquisitions |
|
(33) |
|
(43) |
||||
- Dividends received |
|
4 |
|
12 |
||||
- Additions to loans granted |
|
(152) |
|
(10) |
||||
- Repayment of loans granted |
|
- |
|
29 |
||||
- Proceeds from disposals |
|
30 |
|
123 |
||||
Cash from/(used in) investing activities |
|
876 |
|
208 |
||||
|
|
|
|
|
||||
Financing activities |
|
|
|
|
||||
Contributions from non-controlling interests |
|
5 |
|
3 |
||||
Acquisition of non-controlling interests |
|
- |
|
(13) |
||||
Loans taken up |
|
51 |
|
37 |
||||
Repayment of loans |
|
(29) |
|
(513) |
||||
Payments of lease liabilities |
|
(57) |
|
(54) |
||||
Change in debt to credit institutions |
|
(21) |
|
12 |
||||
Dividend paid |
|
(345) |
|
(266) |
||||
Interest paid |
|
(52) |
|
(65) |
||||
Proceeds from reissued treasury shares |
|
25 |
|
34 |
||||
Repurchase of shares |
|
(210) |
|
(165) |
||||
Other |
|
(12) |
|
6 |
||||
Cash (used in)/from financing activities |
|
(645) |
|
(984) |
||||
|
|
|
|
|
||||
Change in cash and cash equivalents |
|
1,196 |
|
651 |
||||
|
|
|
|
|
||||
Cash and cash equivalents at 1 January |
|
1,561 |
|
871 |
||||
Exchange differences relating to cash held |
|
(2) |
|
39 |
||||
Cash and cash equivalents at 31 December |
|
2,755 |
|
1,561 |
||||
|
||||||||
