Consolidated cash flow statement
€ million | Note | 2021 | 2020 | ||
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 | |||
Cash and cash equivalents as at 31 December | 624 | 298 |
- 1 To aid comparison, reclassified from cash flow from financing activities to cash flow from investing activities.