Consolidated statement of cash flows

For the year ended 31 December 2007

In millions of EUR Note 2007 2006
Operating activities
Profit 972 1,345
Adjustments for:
Amortisation, depreciation and impairments 11 764 786
Net interest (income)/expenses 12 101 133
Gain on sale of property, plant & equipment,
intangible assets and subsidiaries,
joint ventures and associates
8 (30) (379)
Investment income and share of profit of associates (41) (40)
Income tax expenses 13 429 365
Other non-cash items 103 31
Cash flow from operations before changes
in working capital and provisions
2,298 2,241
Change in inventories (140) (43)
Change in trade and other receivables (175) 85
Change in trade and other payables 282 102
Total change in working capital (33) 144
Change in provisions and employee benefits (53) (3)
Cash flow from operations 2,212 2,382
Interest paid and received (96) (138)
Dividend received 27 13
Income taxes paid (413) (408)
Cash flow used for interest, dividend and income tax (482) (533)
Cash flow from operating activities 1,730 1,849
       
Investing activities
Proceeds from sale of property, plant & equipment
and intangible assets
81 182
Purchase of property, plant & equipment 14 (1,123) (844)
Purchase of intangible assets 15 (22) (33)
Loans issued to customers and other investments (146) (166)
Repayment on loans to customers 225 134
Cash flow used in operational investing activities (985) (727)
Acquisition of subsidiaries, joint ventures and
minority interests, net of cash acquired
6 (245) (84)
Acquisition of associates and other investments (89) (29)
Disposal of subsidiaries, joint ventures and
minority interests, net of cash disposed of
6 12 17
Disposal of associates and other investments 44 24
Cash flow used for acquisitions and disposals (278) (72)
Cash flow used in investing activities (1,263) (799)
In millions of EUR Note 2007 2006
Financing activities
Proceeds from loans and borrowings 77 262
Repayment of loans and borrowings (265) (582)
Dividends paid (450) (297)
Purchase own shares 22 (15) (14)
Other (3) (18)
Cash flow used in financing activities (656) (649)
   
Net Cash Flow (189) 401
       
Cash and cash equivalents as at 1 January 627 234
Effect of movements in exchange rates (5) (8)
Cash and cash equivalents as at 31 December 21 433 627

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