Consolidated cash flow statement
€ million |
Note |
2023 |
2022 |
||
Cash flow from operating activities |
|||||
Profit after tax |
267 |
198 |
|||
Adjustments for: |
|||||
- Finance income and expense |
69 |
53 |
|||
- Tax |
93 |
62 |
|||
- Result after tax from associates, joint ventures and third-party non-controlling interests |
3 |
-3 |
|||
- Depreciation, amortisation and impairment |
449 |
456 |
|||
- Book profit on sale of Stam |
-5 |
-13 |
|||
Changes in working capital: |
|||||
- Inventories |
-63 |
-96 |
|||
- Trade and other receivables |
-134 |
4 |
|||
- Trade and other payables, accruals and deferred income |
93 |
35 |
|||
Total changes in working capital |
-104 |
-57 |
|||
Changes in deferred tax, provisions, derivatives and other |
18 |
-20 |
|||
Cash flow from operations |
790 |
676 |
|||
Interest paid |
-67 |
-50 |
|||
Interest received |
- |
- |
|||
Dividend received |
3 |
6 |
|||
Corporate income tax paid (received) |
-2 |
-60 |
|||
Cash flow from operating activities |
724 |
572 |
|||
Cash flow from investing activities |
|||||
Investments in intangible assets |
- |
-1 |
|||
Investments in property, plant and equipment |
-1,411 |
-1,228 |
|||
Construction contributions received from third parties |
140 |
142 |
|||
Cash flow from the sale of associates |
13 |
12 |
|||
GE notes redeemed |
-5 |
-8 |
|||
Repayments of short-term debt |
33 |
8 |
|||
Paid deposits |
51 |
-100 |
|||
Cash flow from investing activities |
-1,179 |
-1,175 |
|||
Cash flow from financing activities |
|||||
Issue of green bonds |
497 |
498 |
|||
Redemption EMTN |
- |
-400 |
|||
ECP financing issued |
200 |
300 |
|||
Long-term debt issued |
41 |
- |
|||
Long-term debt redeemed |
-126 |
-8 |
|||
Received deposits |
- |
-72 |
|||
Redemption lease liabilities |
-28 |
-25 |
|||
Reimbursement on subordinated perpetual bond loan |
-8 |
-8 |
|||
Dividend paid |
-82 |
-101 |
|||
Cash flow from financing activities |
494 |
184 |
|||
Net cash flow |
39 |
-419 |
|||
Cash and cash equivalents as at 1 January |
205 |
624 |
|||
Net cash flow |
39 |
-419 |
|||
Cash and cash equivalents as at 31 December |
244 |
205 |