Cash and cash equivalents increased significantly
Summary statement of cash flows | H1 | Change | |||
2018 | 2017 | absolute | % | ||
Cash flow from operating activities | 1,294 | 762 | + 532 | + 69.8 | |
Cash flow from investing activities | – 1,863 | – 1,496 | – 367 | + 24.5 | |
Cash flow from financing activities | 850 | – 773 | + 1,623 | – | |
Net change in cash and cash equivalents | 276 | – 1,544 | + 1,820 | – | |
Cash and cash equivalents | 3,673 | 3,397 | + 276 | + 8.1 | |
- Above all, the omission of the one-off effect from the payment due to the Disposal Fund Act in the first half of 2017 was decisive for the significant increase in cash flow from operating activities.
- The cash outflow from investing activities also rose significantly. This was essentially the result of higher payments for net capital expenditures (€+446 million), in connection with ICE 4 trains, among other things. This was partly offset, among other things, by the decline in cash outflows for the acquisition of shares in companies (€–24 million), mainly due to the acquisition of shares in uShip at DB Schenker in the first half of 2017. In addition, cash inflow from the disposal of assets (€+33 million) increased, among other things, as a result of real estate sales at DB Netze Track.
- Cash flow from financing activities increased markedly. This development was mainly driven by higher cash inflows from the issue of commercial paper (€+1,139 million).
Lower cash outflows for the repayments of interest-free loans (€–206 million) as well as the dividend reduction implemented within the scope of the capital measures put in place by the Federal Government had a supporting effect.
- As of June 30, 2018, DB Group held a higher amount of cash and cash equivalents compared to the end of the previous year.