Consolidated statement of cash flows
FOR THE PERIOD JAN 1 THROUGH JUN 30 / € million | H 1 | 2021 | |
2022 | 2021 | ||
Profit/loss before taxes on income | 682 | –1,306 | –788 |
Depreciation on property, plant and equipment and intangible assets | 1,946 | 1,876 | 3,804 |
Write-ups/write-downs on non-current financial assets | –27 | 1 | –32 |
Result of disposal of property, plant and equipment and intangible assets | –126 | –14 | 123 |
Result of disposal of financial assets | 6 | 0 | –4 |
Result of the sale of consolidated companies | – | – | 0 |
Interest and dividend income | –62 | –34 | –57 |
Interest expenses | 246 | 268 | 583 |
Foreign currency result | –67 | –11 | –27 |
Result of investments accounted for using the equity method | 2 | 4 | 10 |
Other non-cash expenses and income 1) | 573 | 708 | 2,786 |
Changes in inventories, receivables and other assets | –1,648 | –1,001 | –2,372 |
Changes in liabilities, provisions and deferred items | 332 | –189 | 616 |
Cash generated from operating activities | 1,857 | 302 | 4,642 |
Interest received | 26 | 18 | 40 |
Received (+)/paid (–) dividends and capital distribution | 6 | 6 | –3 |
Interest paid | –185 | –219 | –524 |
Paid (–)/reimbursed (+) taxes on income | –206 | –97 | –255 |
Cash flow from operating activities | 1,498 | 10 | 3,900 |
Proceeds from the disposal of property, plant and equipment and intangible assets | 197 | 116 | 213 |
Payments for capital expenditures in property, plant and equipment and intangible assets | –5,165 | –5,228 | –14,182 |
Proceeds from investment grants | 2,662 | 2,891 | 9,045 |
Payments for repaid investment grants | –81 | –37 | –43 |
Receipts of payment from the sale and disposal of financial assets | 25 | 0 | 82 |
Payments for investments in financial assets | –164 | –12 | –185 |
Proceeds from sale of shares in consolidated companies less net cash and cash equivalents sold | – | – | 0 |
Payments for acquisition of shares in consolidated companies less net cash and cash equivalents acquired | –5 | –21 | –45 |
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 | –1 | –1 |
Cash flow from investing activities | –2,532 | –2,292 | –5,116 |
Proceeds from capital injections | – | 0 | 2,675 |
Distribution of profits to non-controlling interests and hybrid capital investors | –15 | –12 | –33 |
Payments for redemption of leasing liabilities | –526 | –581 | –1,164 |
Payments for the settlement of IFRIC 12 leasing liabilities | –8 | – | –25 |
Proceeds from issue of senior bonds | 2,027 | 2,648 | 4,860 |
Payments for redemption of senior bonds | –796 | –882 | –1,832 |
Payments for redemption and repayment of interest-free loans | –156 | –157 | –157 |
Proceeds from borrowings and commercial paper 2) | 3 | 1,265 | 187 |
Payments for redemption of borrowings and commercial paper 2) | –273 | –17 | –2,202 |
Cash flow from financing activities | 256 | 2,264 | 2,309 |
Net changes in cash and cash equivalents | –778 | –18 | 1,093 |
Cash and cash equivalents as of Jan 1 | 4,591 | 3,411 | 3,411 |
Change in cash and cash equivalents of non-current assets for sale | –14 | – | – |
Changes in cash and cash equivalents due to changes in exchange rates | 28 | 41 | 87 |
Cash and cash equivalents as of Jun 30/Dec 31 | 3,827 | 3,434 | 4,591 |
1) Including additions to other provisions.
2) Including changes in current bank debt between reporting dates.