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Consolidated cash flow statement

For the year ended 31 December 2022; amounts in € million

 

Note

2022

2021

Operating activities

   

Result for the year after tax

 

(12)

1,444

    

Adjustments to reconcile result after tax to net cash flow from operating activities

   

Unrealised result

11

218

(1,233)

Depreciation of property, plant and equipment

14 / 17

2

2

Amortisation of financing costs

10

3

2

Provisions

24

-

-

Lease liabilities

23

-

(5)

Interest expense

10

39

37

Amortisation of income derivatives

13

(1)

(1)

Result on property sales

8

(6)

(16)

  

255

1,214

    

Working capital adjustments

 

3

2

Net cash flow from operating activities

 

246

232

    

Investing activities

   

Capital expenditure in investment property

 

(59)

(82)

Proceeds from sale of investment property

15

53

115

Capital expenditure on intangible fixed assets

 

-

(1)

Capital expenditure on property, plant and equipment

17

-

-

Capital expenditure on financial fixed assets

18

-

1

Capital expenditure on participations

18

-

4

Capital expenditure on investment property under construction

 

(137)

(121)

Net cash flow from investing activities

 

(143)

(84)

    

Financing activities

   

Loans drawn

22

1,586

2,126

Financing costs

22

-

-

Loan repayment

22

(1,505)

(1,943)

Distribution paid

21

(245)

(186)

Interest paid

 

(36)

(32)

Settlement pre-hedge contracts

14

-

-

Buy-off landlease

23

-

(5)

Income tax paid

 

(1)

(1)

Net cash flow from financing activities

 

(200)

(41)

    

Total net cash flow

 

(98)

107

    

Net increase/decrease in cash and cash equivalents

 

(98)

107

Cash and cash equivalents at the beginning of the period

20

109

2

    

Cash and cash equivalents at 31 December

20

11

109