Consolidated cash flow statement
x € 1 million | Note | 2019* | 2018 |
|---|---|---|---|
Profit after income tax | 325 | 118 | |
Adjusted for: | |||
∙ Financial income and expenses recognised in the income statement | 67 | 72 | |
∙ Income tax recognised in the income statement | 27 | 22 | |
∙ Share in result of associates and joint ventures | -247 | - | |
∙ Depreciation, amortisation and impairments of property, plant and equipment, intangible assets and right-of-use assets | 317 | 297 | |
∙ Result on sale of property, plant and equipment and intangible assets | -1 | -4 | |
∙ Movements in working capital | -14 | 18 | |
∙ Amortisation of customer construction contributions received* | -19 | -18 | |
∙ Movements in provisions, derivative financial instruments and other* | 5 | -28 | |
Cash flow from business operations | 460 | 477 | |
Interest paid | -71 | -84 | |
Interest received | 1 | 10 | |
Corporate income tax paid / received | -16 | -54 | |
Cash flow from operating activities | 374 | 349 | |
New loans issued | -4 | -6 | |
Repayments of loans granted | 4 | - | |
Disposal of subsidiaries | 310 | 18 | |
Investments in property, plant and equipment | -641 | -599 | |
Disposal of property, plant and equipment | 1 | 5 | |
Investments in intangible assets | -2 | -5 | |
Customer construction contributions received* | 96 | 112 | |
Cash flow from investing activities | -236 | -475 | |
Dividend payments | -46 | -28 | |
Payment of lease liabilities | -17 | - | |
Coupon on perpetual subordinated bonds | -16 | -16 | |
Repayment of non-current interest-bearing debt | -648 | -202 | |
Repayment of current interest-bearing debt | -727 | -905 | |
Non-current interest-bearing debt newly issued | 492 | 493 | |
Current interest-bearing debt newly issued | 727 | 880 | |
Cash flow from financing activities | -235 | 222 | |
Movements in cash and cash equivalents | -97 | 96 | |
Balance of cash and cash equivalents as at 1 January | 169 | 73 | |
Balance of cash and cash equivalents as at 31 December | 72 | 169 |
- * With effect from 2019, customer construction contributions received are recognised as a separate element of cash flow from investing activities, the comparative figures for 2018 have been adjusted accordingly. This adjustment was made because of the long-term nature of the construction contributions received and for comparability with market parties.
