Consolidated statement of cash flows
millions of € |
|
|
|
|
||
|---|---|---|---|---|---|---|
|
Note |
2023 |
2022 |
2021 |
||
Profit (loss) before income taxes |
24,957 |
11,703 |
7,918 |
|||
Depreciation, amortization and impairment losses |
|
23,975 |
27,827 |
27,482 |
||
(Profit) loss from financial activities |
|
8,845 |
4,455 |
5,139 |
||
(Profit) loss on the disposal of fully consolidated subsidiaries |
|
(12,927) |
(2,661) |
(130) |
||
(Income) loss from the sale of stakes accounted for using the equity method |
|
(235) |
(71) |
(13) |
||
Other non-cash transactions |
|
543 |
1,508 |
226 |
||
(Gains) losses from the disposal of intangible assets and property, plant and equipment |
|
43 |
(76) |
161 |
||
Change in assets carried as operating working capital |
|
720 |
(600) |
(1,475) |
||
Change in other operating assets |
|
(611) |
(813) |
(1,059) |
||
Change in provisions |
|
(821) |
117 |
(152) |
||
Change in liabilities carried as operating working capital |
|
(500) |
789 |
241 |
||
Change in other operating liabilities |
|
212 |
(60) |
(260) |
||
Income taxes received (paid) |
|
(1,312) |
(902) |
(893) |
||
Dividends received |
|
31 |
11 |
8 |
||
Net payments from entering into, canceling or changing the terms and conditions of interest rate derivatives |
(94) |
0 |
(1) |
|||
Cash generated from operations |
|
42,826 |
41,228 |
37,191 |
||
Interest paid |
|
(7,729) |
(6,756) |
(6,158) |
||
Interest received |
|
2,201 |
1,347 |
1,138 |
||
Net cash from operating activities |
|
37,298 |
35,819 |
32,171 |
||
Of which: from discontinued operation |
|
80 |
712 |
808 |
||
Cash outflows for investments in |
|
|
|
|
||
Intangible assets |
|
(5,560) |
(7,551) |
(12,749) |
||
Property, plant and equipment |
|
(12,306) |
(16,563) |
(13,616) |
||
Non-current financial assets |
|
(326) |
(683) |
(336) |
||
Payments for publicly funded investments in the broadband build-out |
|
(338) |
(377) |
(436) |
||
Proceeds from public funds for investments in the broadband build-out |
|
444 |
435 |
420 |
||
Changes in cash and cash equivalents in connection with the acquisition of control of subsidiaries and associates |
|
(4) |
(52) |
(1,617) |
||
Proceeds from disposal of |
|
|
|
|
||
Intangible assets |
|
95 |
3 |
2 |
||
Property, plant and equipment |
|
110 |
436 |
137 |
||
Non-current financial assets |
|
473 |
173 |
352 |
||
Changes in cash and cash equivalents in connection with the loss of control of subsidiaries and associates |
|
7,629 |
4,208 |
352 |
||
Net change in short-term investments and marketable securities and receivables |
|
(430) |
(2,335) |
89 |
||
Other |
|
(1) |
1 |
0 |
||
Net cash (used in) from investing activities |
|
(10,213) |
(22,306) |
(27,403) |
||
Of which: from discontinued operation |
|
(17) |
(277) |
(296) |
||
Proceeds from issue of current financial liabilities |
|
816 |
9,686 |
4,431 |
||
Repayment of current financial liabilities |
|
(12,700) |
(15,528) |
(18,040) |
||
Proceeds from issue of non-current financial liabilities |
|
10,973 |
4,534 |
12,925 |
||
Repayment of non-current financial liabilities |
|
(1,992) |
0 |
0 |
||
Dividend payments (including to other shareholders of subsidiaries) |
(4,027) |
(3,385) |
(3,145) |
|||
Principal portion of repayment of lease liabilities |
|
(5,904) |
(4,951) |
(6,458) |
||
Cash inflows from transactions with non-controlling entities |
|
30 |
29 |
14 |
||
Cash outflows from transactions with non-controlling entities |
|
(12,730) |
(5,823) |
(506) |
||
Other |
|
0 |
0 |
0 |
||
Net cash (used in) from financing activities |
|
(25,534) |
(15,438) |
(10,779) |
||
Of which: from discontinued operation |
|
(74) |
(192) |
(193) |
||
Effect of exchange rate changes on cash and cash equivalents |
|
(68) |
93 |
620 |
||
Changes in cash and cash equivalents associated with non-current assets and disposal groups held for sale |
|
25 |
(18) |
68 |
||
Net increase (decrease) in cash and cash equivalents |
|
1,507 |
(1,850) |
(5,323) |
||
Cash and cash equivalents, at the beginning of the year |
|
5,767 |
7,617 |
12,939 |
||
Cash and cash equivalents, at the end of the year |
|
7,274 |
5,767 |
7,617 |
||
|
||||||