Corner image

Consolidated statement of cash flows

For the year ended 31 December (EUR million)

Notes20182017
Operational activities
Operating profit880900
Non-cash adjustments to reconcile profit to net cash flows:
Depreciation, amortisation and impairment of assets4.1, 5.1700629
Result on disposal of assets4.122-7
Gain on acquistion of subsidiary5.2-3
Share in profit of joint ventures and associates5.3-69-72
Dividends received from joint ventures and associates5.34754
Movements in provisions and other (financial) liabilities and assets-14-66
686535
Working capital adjustments excluding EEG working capital:
(Increase)/decrease in account- and other receivables5.532-274
(Increase)/decrease in inventories10-4
Increase/(decrease) in account- and other payables5.682379
Increase/(decrease) in contract liabilities4.2252
Increase/(decrease) in current financial liabilities-237
126110
Income tax paid (net)-239-181
Net cash flows from operating activities excluding EEG working capital1,4531,364
EEG working capital adjustments:
(Increase)/decrease in EEG receivables5.573-94
(Increase)/decrease EEG deposits > 3 months5.5-250
Increase/(decrease) in EEG payables5.6137325
-40231
Net cash flows from operating activities1,4131,595
Investing activities
Purchase of tangible and intangible fixed assets4.1, 5.1-2,324-1,762
Acquisition of a subsidiary, net of cash acquired5.2-5
Capital contribution to joint ventures and associates5.3-92-72
Interest received12
Net cash flows used in investing activities-2,415-1,837
Financing activities
Net financing
Proceeds from borrowings6.31,9301,370
Repayment of borrowings6.3-917-1,127
1,013243
Other financing activities
Interest paid-170-151
Dividends paid to ordinary shareholders of the company6.2.1-147-146
Proceeds from capital contributions6.2.1350150
Repayment of hybrid securities6.2.1-500
Proceeds from issue of hybrid securities6.2.1100997
Distribution on hybrid securities6.2.1-30-37
Dividends paid and capital repayments to non-controlling interests6.2.2-151-205
Proceeds from capital contributions by non-controlling interests6.2.215
-48123
Net cash flows from financing activities965366
Net change in cash and cash equivalents-37124
Cash and cash equivalents at 31 December6.41,2531,290
Cash and cash equivalents at 1 January6.41,2901,166
-37124