Consolidated cash flow statement
€ million | Note | 2020 | 2019 | ||
Cash flow from operating activities | 30 | ||||
Profit after tax | 224 | 253 | |||
Adjustments for: | |||||
- Finance income and expense | 27, 28 | 41 | 52 | ||
- Tax | 29 | 55 | 76 | ||
- Result after tax from associates and joint ventures | 5 | -1 | -2 | ||
- Depreciation, amortisation and impairment | 22, 26 | 388 | 378 | ||
Changes in working capital: | |||||
- Inventories | -9 | 6 | |||
- Trade and other receivables | 21 | 12 | |||
- Trade and other payables, accruals and deferred income | 1 | -32 | |||
Total changes in working capital | 13 | -14 | |||
Changes in deferred tax, provisions, derivatives and other | 2 | -1 | |||
Cash flow from operations | 722 | 742 | |||
Interest paid | -38 | -48 | |||
Interest received | - | 1 | |||
Dividend received | 1 | - | |||
Corporate income tax paid (received) | -51 | -57 | |||
Total | -88 | -104 | |||
Cash flow from operating activities | 634 | 638 | |||
Cash flow from investing activities | 30 | ||||
Investments in property, plant and equipment | 3 | -890 | -834 | ||
Construction contributions received from third parties | 14 | 175 | 124 | ||
Cash flow from the acquisition of 450connect GmbH | -60 | - | |||
Financial assets (associates and joint ventures) - Investments and divestments | - | -3 | |||
Cash flow from investing activities | -775 | -713 | |||
Cash flow from financing activities | 30 | ||||
ECP financing issued (redeemed) | 13 | -289 | 291 | ||
Long-term debt issued | 13 | 847 | 296 | ||
Long-term debt redeemed | 14 | -134 | -321 | ||
Repayments of short-term debt | 13 | 6 | - | ||
Redemption lease liabilities | -22 | -20 | |||
Reimbursement on subordinated perpetual bond loan | 12 | -8 | -8 | ||
Dividend paid | -114 | -150 | |||
Cash flow from financing activities | 286 | 88 | |||
Net cash flow | 145 | 13 | |||
Cash and cash equivalents as at 1 January | 153 | 140 | |||
Net cash flow | 145 | 13 | |||
Cash and cash equivalents as at 31 December | 298 | 153 |