Cash and cash equivalents increased slightly
Summary statement of cash flows
Cash flow from operating activities
Cash flow from investing activities
Cash flow from financing acitivites
Net change in cash and cash equivalents
Cash and cash equivalents
From the first-time application of IFRS 16, changes also affect the statement of cash flows. The increase in depreciation caused by IFRS 16 resulted in a positive onetime effect on the cash flow from operating activities. On the other hand, there was an increase in the recognition of lease contract payments, which resulted in a negative onetime effect on the cash flow from financing activities.
- Adjusted for the IFRS 16 effect, the cash flow from operating activities declined due to the development of profits.
- The cash outflow from investing activities remained at the same level as in the first half of 2018, primarily driven by the development of the net capital expenditures.
- Adjusted for the IFRS 16 effect, cash inflows from financing activities increased, driven by a higher net cash inflow from the issuance and redemption of bonds (€ +672 million). This resulted from lower repayments in the first half of 2019.
This was partly offset by the increased dividend payment (€ –200 million), the higher repayment of interest-free loans (€ –178 million), and the higher net cash outflow due to borrowing and the repayment of financial loans (€ –109 million).
- As of June 30, 2019, DB Group had a slightly higher level of cash and cash equivalents compared to the end of the previous year.