7.2.5Consolidated statement of cash flows
Consolidated statement of cash flows
(in € millions) | 2024 | 2023 restated |
---|---|---|
Cash and cash equivalents as at 1 January | 7,910 | 2,246 |
| | |
Result before tax from continuing and discontinued operations1 | 1,608 | 1,389 |
Adjustments on non-cash items included in result | 677 | 395 |
Changes in operating assets and liabilities | -2,882 | 1,895 |
Income tax received (paid) | -102 | -82 |
Cash flows from operating activities | -699 | 3,597 |
| | |
Cash flows from investing activities: | | |
Investments in associates and joint ventures | -18 | -28 |
Proceeds from sales of associates and joint ventures | 3 | 8 |
Purchases of property, plant and equipment | -25 | -29 |
Purchases of group companies (less acquired cash positions) | 1 | 2,255 |
Proceeds from sales of property, plant and equipment | 1 | - |
Sales of group companies (less sold cash positions) | -1,898 | - |
Purchase of intangible assets | -5 | -5 |
Cash flows from investing activities | -1,941 | 2,201 |
| | |
Cash flows from financing activities: | | |
Proceeds from issues of loans | 310 | 1,165 |
Repayment of loans | -582 | -741 |
Repayment of lease liabilities | -17 | -12 |
Dividend paid | -629 | -484 |
Discretionary interest to holders of equity instruments | -63 | -48 |
Non-controlling interests | 15 | -5 |
Issue of other equity instruments | 495 | - |
Repayment of other equity instruments | -502 | - |
(Purchase)/ sale of treasury shares | -103 | -5 |
Cash flows from financing activities | -1,076 | -130 |
| | |
Effect of movements in exchange rates on cash held | - | -4 |
| | |
Cash and cash equivalents as at 31 December | 4,194 | 7,910 |
- 1 Result before tax from continuing and discontinued operations consists of Result before tax from continued operations amounting to € 1,447 mln. (2023: € 1,278 mln.) and Result before tax from discontinued operations amounting to € 161 mln (2023: € 111 mln.). Result after tax from discontinued operations amount to - € 121 mln. (2023: € 82 mln.). For more detailed information on discontinued operations, see note 7.4.6.
The comparative figures for 2023 have been restated (see section 7.3.2).
For more information on cash and cash equivalents, see section 7.5.10.
For more information on the cash flows from operating activities, including the cash flows from interest received, interest paid and dividend received, see section 7.7.2.