Consolidated statement of cash flows

Consolidated statement of cash flows

(€ million)

H1

2020

2021

2020

Loss before taxes on income

–‍1,306

–‍3,669

-‍5,484

Depreciation on property, plant and equipment and intangible assets

1,876

3,375

5,372

Write-ups/write-downs on non-current financial assets

1

12

56

Result of disposal of property, plant and equipment and intangible assets

–14

64

96

Result of disposal of financial assets

0

1

–1

Result of the sale of consolidated companies

–3

–3

Interest and dividend income

–34

–78

–115

Interest expenses

268

424

729

Foreign currency result

–11

9

25

Result of investments accounted for using the equity method

4

9

21

Other non-cash expenses and income 1)

708

930

2,233

Changes in inventories, receivables and other assets

–‍1,001

94

–‍831

Changes in liabilities, provisions and deferred items

–‍189

–‍1,144

–29

Cash generated from operating activities

302

24

2,069

Interest received

18

13

28

Received (+)/paid (–) dividends and capital distribution

6

7

0

Interest paid

–‍219

–‍218

–‍519

Paid (–)/reimbursed (+) taxes on income

–‍97

–‍61

–‍158

Cash flow from operating activities

10

–‍235

1,420

    
Proceeds from the disposal of property, plant and equipment and intangible assets

116

109

228

Payments for capital expenditures in property, plant and equipment and intangible assets

–‍5,228

–‍5,251

–‍13,284

Proceeds from investment grants

2,891

2,782

8,516

Payments for repaid investment grants

–37

–32

–48

Proceeds from sale of financial assets

0

0

0

Payments for investments in financial assets

–12

–22

–24

Proceeds from sale of shares in consolidated companies less net cash and cash equivalents sold

5

4

Payments for acquisition of shares in consolidated companies less net cash and cash equivalents acquired

–21

–5

–40

Proceeds from disposal of investments accounted for using the equity method

0

0

0

Payments for additions of investments accounted for using the equity method

–1

0

–1

Cash flow from investing activities

–‍2,292

–‍2,414

–‍4,649

    
Payments for the acquisition of non-controlling interests

–2

Distribution of profits to shareholder

–‍650

–‍650

Distribution of profits to non-controlling interests and hybrid capital investors

–12

–6

–27

Payments for redemption leasing liabilities

–‍581

–‍498

–‍995

Proceeds from issue of senior bonds

2,648

4,165

5,327

Payments for redemption of senior bonds

–‍882

–‍1,067

–‍2,078

Proceeds from interest-free loans 

8

Payments for redemption and repayment of interest-free loans

–‍157

–‍163

–‍163

Proceeds from borrowings and commercial paper 2)

1,265

791

2,795

Payments for redemption of borrowings and commercial paper 2)

–17

–‍175

–‍1,509

Cash flow from financing activities

2,264

2,397

2,706

    
Net changes in cash and cash equivalents

–18

–‍252

–‍523

Cash and cash equivalents as of Jan 1

3,411

3,993

3,993

Changes in cash and cash equivalents due to changes in exchange rates

41

–49

–63

Cash and cash equivalents as of Jun 30/Dec 31

3,434

3,696

3,411

1) Including additions to other provisions.
2) Change in items included between the reporting dates.

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