Cash provided by operating activities for the total Group of €1,445 million mainly consists of the EBITDA for the year (€2,245 million) and changes in working capital of -€210 million, income tax payments of €320 million, and other changes, including gain on disposals, totalling €270 million.
Overall, the full-year operating cash flow decreased by €333 million. This was mainly caused by negatively impacted working capital changes, partly offset by improved EBITDA.
The cash from investing activities consisted mainly of the proceeds from disposals of subsidiaries and businesses of €1,270 million, partly offset by capital expenditures (-€764 million). The cash used in financing activities included the dividend paid (-€718 million), repayment of borrowings (-€560 million), redemption of hybrid bonds (-€783 million), and the repurchase of shares (-€1,181 million), partly offset by the issuance of a corporate bond (€750 million).
x € million |
|
2025 |
|
2024 |
|---|---|---|---|---|
Cash and cash equivalents at 1 January |
|
2,667 |
|
2,456 |
|
|
|
|
|
Cash provided by operating activities |
|
1,445 |
|
1,778 |
Cash from/(used in) investing activities |
|
505 |
|
(252) |
Cash from/(used in) financing activities |
|
(2,752) |
|
(1,334) |
Effect of exchange differences |
|
(72) |
|
19 |
Reclassification to held for sale |
|
(11) |
|
– |
Cash and cash equivalents at 31 December |
|
1,782 |
|
2,667 |
For the full cash flow statement, see the Consolidated Financial Statements.