x € million |
|
2023 |
|
2022 |
||||
|---|---|---|---|---|---|---|---|---|
Operating activities |
|
|
|
|
||||
Net profit for the period |
|
2,153 |
|
1,715 |
||||
Share of profit of associates and joint ventures (including discontinued operations)1 |
|
7 |
|
(5) |
||||
Income tax expenses (including discontinued operations)1 |
|
19 |
|
190 |
||||
Profit before tax (including discontinued operations)1 |
|
2,179 |
|
1,900 |
||||
Finance income and expense (including discontinued operations)1 |
|
151 |
|
94 |
||||
Operating profit (including discontinued operations)1 |
|
2,330 |
|
1,994 |
||||
Depreciation, amortization and impairments (including discontinued operations)1 |
|
1,307 |
|
652 |
||||
EBITDA (including discontinued operations)1 |
|
3,637 |
|
2,646 |
||||
|
|
|
|
|
||||
- (Gain) or loss from disposals |
|
(2,845) |
|
(1,024) |
||||
- Acquisition-/divestment-related |
|
171 |
|
4 |
||||
- Changes in provisions |
|
33 |
|
(33) |
||||
- Changes in employee benefits |
|
(51) |
|
(15) |
||||
- Share-based compensation |
|
23 |
|
34 |
||||
- Income taxes paid/received |
|
(179) |
|
(131) |
||||
- Other non-cash items |
|
316 |
|
(19) |
||||
Operating cash flow before changes in working capital |
|
1,105 |
|
1,462 |
||||
|
|
|
|
|
||||
Changes in: |
|
|
|
|
||||
Inventories |
|
89 |
|
(442) |
||||
Trade receivables |
|
49 |
|
(133) |
||||
Trade payables |
|
126 |
|
116 |
||||
Changes in operating working capital |
|
264 |
|
(459) |
||||
Changes in non-operating working capital |
|
(104) |
|
(38) |
||||
Changes in working capital |
|
160 |
|
(497) |
||||
Cash provided by operating activities |
|
1,265 |
|
965 |
||||
|
|
|
|
|
||||
Investing activities |
|
|
|
|
||||
Capital expenditure for intangible assets |
|
(129) |
|
(138) |
||||
Capital expenditure for property, plant and equipment |
|
(555) |
|
(506) |
||||
Proceeds from disposal of property, plant and equipment |
|
16 |
|
17 |
||||
Payments regarding drawing rights |
|
(8) |
|
(7) |
||||
Acquisition of subsidiaries |
|
(3,691) |
|
(74) |
||||
Disposal of subsidiaries |
|
3,533 |
|
1,366 |
||||
Payments for short-term financial investments |
|
(150) |
|
(638) |
||||
Proceeds from short-term financial investments |
|
195 |
|
1,001 |
||||
Other financial assets (incl. associates): |
|
|
|
|
||||
- Dividends received |
|
10 |
|
4 |
||||
- Capital payments and acquisitions |
|
(15) |
|
(33) |
||||
- Proceeds from disposals |
|
10 |
|
30 |
||||
- Additions to loans granted |
|
(35) |
|
(152) |
||||
- Repayment of loans granted |
|
33 |
|
- |
||||
Interest received |
|
60 |
|
6 |
||||
Cash from/(used in) investing activities |
|
(726) |
|
876 |
||||
|
|
|
|
|
||||
Financing activities |
|
|
|
|
||||
Contributions from non-controlling interests |
|
- |
|
5 |
||||
Acquisition of non-controlling interests |
|
1 |
|
- |
||||
Proceeds from borrowings |
|
15 |
|
51 |
||||
Repayment of borrowings |
|
(549) |
|
(29) |
||||
Payments of lease liabilities |
|
(73) |
|
(57) |
||||
Change in debt to credit institutions |
|
(7) |
|
(21) |
||||
Proceeds from re-issued treasury shares |
|
24 |
|
25 |
||||
Proceeds from issuing new shares |
|
733 |
|
- |
||||
Repurchase of shares |
|
(256) |
|
(210) |
||||
Remuneration on deeply subordinated fixed rate resettable perpetual notes |
|
(28) |
|
- |
||||
Dividend paid |
|
(582) |
|
(345) |
||||
Interest paid |
|
(61) |
|
(52) |
||||
Other |
|
(37) |
|
(12) |
||||
Cash (used in)/from financing activities |
|
(820) |
|
(645) |
||||
|
|
|
|
|
||||
Cash and cash equivalents at the beginning of the period |
|
2,755 |
|
1,561 |
||||
|
|
|
|
|
||||
Net increase/(decrease) in cash and cash equivalents |
|
(281) |
|
1,196 |
||||
Effect of movements in exchange rates on cash held |
|
(18) |
|
(2) |
||||
Cash and cash equivalents at the end of the period |
|
2,456 |
|
2,755 |
||||
|
||||||||
