Consolidated statement of cash flows
JAN 1 THROUGH JUN 30 OR RESPECTIVELY AS OF DEC 31 / € million | H 1 | 2023 | |
2024 | 2023 1) | ||
Loss/profit before taxes on income | –1,113 | 32 | –1,959 |
Depreciation on property, plant and equipment and intangible assets | 1,985 | 1,916 | 3,912 |
Write-ups/write-downs on non-current financial assets | 28 | 6 | 77 |
Result of disposal of property, plant and equipment and intangible assets | –70 | –51 | 22 |
Result of disposal of financial assets | –1 | 0 | –2 |
Result of the sale of consolidated companies | – | 13 | 20 |
Interest and dividend income | –145 | –106 | –221 |
Interest expenses | 557 | 379 | 834 |
Foreign currency result | –83 | –20 | –3 |
Result of investments accounted for using the equity method | –8 | –6 | –9 |
Other non-cash expenses and income 2) | 1,168 | 821 | 2,434 |
Changes in inventories, receivables and other assets | –1,635 | 423 | 134 |
Changes in liabilities, provisions and deferred items | 701 | –1,323 | –1,845 |
Cash generated from operating activities | 1,384 | 2,084 | 3,394 |
Interest received | 74 | 59 | 149 |
Received (+)/paid (–) dividends and capital distribution | 6 | 3 | 9 |
Interest paid | –346 | –242 | –630 |
Paid (–)/reimbursed (+) taxes on income | –95 | –203 | –318 |
Cash flow from operating activities (continuing operations) | 1,023 | 1,701 | 2,604 |
Cash flow from operating activities (discontinued operations) | –77 | 229 | 440 |
Cash flow from operating activities | 946 | 1,930 | 3,044 |
Proceeds from the disposal of property, plant and equipment and intangible assets | 133 | 134 | 192 |
Payments for capital expenditures in property, plant and equipment and intangible assets | –7,127 | –5,970 | –16,204 |
Proceeds from investment grants | 3,289 | 3,199 | 9,289 |
Payments for repaid investment grants | –36 | –96 | –105 |
Proceeds from sale and disposal of financial assets | 55 | 30 | 77 |
Payments for investments in financial assets | –105 | –252 | –318 |
Proceeds (+)/payments (–) from sale of shares in consolidated companies less net cash and cash equivalents sold | 1,225 | – | –1 |
Payments for acquisition of shares in consolidated companies less net cash and cash equivalents acquired as well as for the acquisition of share in companies | – | – | – |
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 | 0 | 0 | –1 |
Cash flow from investing activities (continuing operations) | –2,566 | –2,954 | –7,071 |
Cash flow from investing activities (discontinued operations) | –161 | –131 | –310 |
Cash flow from investing activities | –2,727 | –3,085 | –7,381 |
Proceeds from capital injections | 3,020 | – | 1,125 |
Profit distribution to shareholder | – | – | –650 |
Distribution of profits to non-controlling interests and hybrid capital investors | –20 | –16 | –35 |
Payments for redemption of leasing liabilities | –517 | –505 | –1,021 |
Payments for redemption of IFRIC 12 leasing liabilities | –9 | –8 | –17 |
Proceeds from issue of senior bonds | 1,107 | 1,338 | 3,010 |
Payments for redemption of senior bonds | –1,083 | –400 | –1,886 |
Payments for redemption and repayment of interest-free loans | –155 | –156 | –155 |
Procceeds from taking out financial loans 3) and commercial paper 3) | 1,309 | 914 | 2,388 |
Payments for redemption of financial loans 3) | 0 | –405 | –306 |
Cash flow from financing activities (continuing operations) | 3,652 | 762 | 2,453 |
Cash flow from financing activities (discontinued operations) | –38 | –66 | –123 |
Cash flow from financing activities | 3,614 | 696 | 2,330 |
Net change in cash and cash equivalents | 1,833 | –459 | –2,007 |
Cash and cash equivalents as of Jan 1 | 2,631 | 5,138 | 5,138 |
Changes in cash and cash equivalents due to changes in the scope of consolidation | – | 0 | 0 |
Changes in cash and cash equivalents of non-current assets held for sale | 109 | 9 | –431 |
Changes in cash and cash equivalents due to changes in exchange rates | 0 | –37 | –69 |
Cash and cash equivalents at the end of the period | 4,573 | 4,651 | 2,631 |
1) Values adjusted due to classification of DB Arriva as discontinued operations.
2) Including additions to other provisions.
3) Including change in short-term bank borrowings between reporting dates.