Statement of cash flows
| Summary statement of cash flows (€ million) | H1 | Change | |||
2020 | 2019 | absolute | % | ||
| Cash flow from operating activities | – 235 | 1,386 | – 1,621 | – |
| Cash flow from investing activities | – 2,414 | – 1,857 | – 557 | + 30,0 | |
| Cash flow from financing activities | 2,397 | 584 | + 1,813 | – | |
| Net change in cash and cash equivalents | – 297 | 119 | – 416 | – | |
| Cash and cash equivalents as of Jun 30/Dec 31 | 3,696 | 3,993 | – 297 | – 7,4 | |
- The significant drop in cash flow from operating activities was mainly due to Covid-19-related declines in income development. Working capital effects partially compensated for these declines.
- The outflow of funds from investing activities continued to increase, driven mainly by the development of net capital expenditures.
- The inflow of funds from financing activities increased significantly mainly due to a higher net inflow of funds from senior bonds (€ +2,362 million). This increase was mitigated by the decline in the inflow of funds from financial loans (€ –546 million).
- On balance, DB Group had, as of June 30, 2020, a slightly lower level of cash and cash equivalents than at the end of the previous year.