Consolidated cash flow statement

Cash flow from operating activities

30

Profit after tax

242

224

Adjustments for:

- Finance income and expense

27, 28

45

41

- Tax

29

72

55

- Result after tax from associates and joint ventures

5

-5

-1

- Depreciation, amortisation and impairment

22, 26

422

388

- Release of provision CDS after tax

-24

-

Changes in working capital:

- Inventories

6

-9

- Trade and other receivables

-33

21

- Trade and other payables, accruals and deferred income

46

1

Total changes in working capital

19

13

Changes in deferred tax, provisions, derivatives and other

-6

2

Cash flow from operations

765

722

Interest paid

-37

-38

Interest received

-

-

Dividend received

1

1

Corporate income tax paid (received)

-65

-51

Cash flow from operating activities

664

634

Cash flow from investing activities

30

Investments in property, plant and equipment

3

-1.014

-890

Construction contributions received from third parties

14

149

175

Cash flow from the acquisition of associates

1

-3

-60

Cash flow from the sale of associates

22

30

-

GE notes redeemed1

6

198

-

Repayments of short-term debt1

13

1

6

Cash flow from investing activities

-639

-769

Cash flow from financing activities

30

ECP financing redeemed

13

-

-289

ECP financing issued

13

2

-

Long-term debt issued

13

599

847

Long-term debt redeemed

14

-48

-134

Received deposits

13

72

-

Redemption lease liabilities

19

-222

-22

Reimbursement on subordinated perpetual bond loan

12

-8

-8

Dividend paid

-94

-114

Cash flow from financing activities

301

280

Net cash flow

326

145

Cash and cash equivalents as at 1 January

298

153

Net cash flow

326

145