Consolidated statement of cash flows

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millions of €

 

 

 

 

Q1 2020

Q1 2019

FY 2019

a

The payments and proceeds shown here relate to those investments in the broadband build-out that are publicly financed in full. Since the payments are not made at the same point in time as the proceeds are received, the net amounts can be positive or negative in the individual periods. These investments are not included in the operational KPIs “Cash capex” and “Free cash flow,” because the payments made do not result in additions to property, plant and equipment. For further information on the change in estimates in the second half of 2019 for publicly funded investments in the broadband build-out, please refer to the section “Changes in accounting policies, changes in estimates” in the notes to the consolidated financial statements in the 2019 Annual Report.

PROFIT (LOSS) BEFORE INCOME TAXES

1,546

1,852

7,260

Depreciation, amortization and impairment losses

4,429

4,204

17,663

(Profit) loss from financial activities

965

406

2,197

(Profit) loss on the disposal of fully consolidated subsidiaries

0

0

9

(Income) loss from the sale of stakes accounted for using the equity method

0

(1)

(143)

Other non-cash transactions

230

189

569

(Gains) losses from the disposal of intangible assets and property, plant and equipment

(22)

26

112

Change in assets carried as operating working capital

(265)

86

(814)

Change in other operating assets

(489)

(329)

(248)

Change in provisions

(100)

(99)

203

Change in liabilities carried as operating working capital

(207)

56

(440)

Change in other operating liabilities

145

398

(325)

Income taxes received (paid)

(144)

(178)

(758)

Dividends received

3

0

15

Net payments from entering into, canceling or changing the terms and conditions of interest rate derivatives

0

0

(3)

CASH GENERATED FROM OPERATIONS

6,090

6,609

25,297

Interest paid

(2,477)

(955)

(3,924)

Interest received

347

355

1,701

NET CASH FROM OPERATING ACTIVITIES

3,960

6,009

23,074

Cash outflows for investments in

 

 

 

Intangible assets

(1,156)

(1,030)

(4,375)

Property, plant and equipment

(2,414)

(2,797)

(9,982)

Non-current financial assets

(138)

(26)

(417)

Payments for publicly funded investments in the broadband build-outa

(102)

0

(401)

Proceeds from public funds for investments in the broadband build-outa

23

0

341

Payments to acquire control of subsidiaries and associates

(1)

(237)

(261)

Proceeds from disposal of

 

 

 

Intangible assets

1

0

0

Property, plant and equipment

86

44

176

Non-current financial assets

19

12

251

Proceeds from the loss of control of subsidiaries and associates

0

0

62

Net change in short-term investments and marketable securities and receivables

964

439

376

Other

11

(2)

(1)

NET CASH USED IN INVESTING ACTIVITIES

(2,706)

(3,597)

(14,230)

Proceeds from issue of current financial liabilities

1,321

5,942

10,778

Repayment of current financial liabilities

(4,066)

(7,497)

(16,533)

Proceeds from issue of non-current financial liabilities

1,609

2,583

6,278

Repayment of non-current financial liabilities

(2)

(2)

(21)

Dividend payments (including to other shareholders of subsidiaries)

0

0

(3,561)

Principal portion of repayment of lease liabilities

(1,263)

(893)

(3,835)

Cash inflows from transactions with non-controlling entities

4

1

13

Cash outflows from transactions with non-controlling entities

(165)

(107)

(261)

Other

0

0

0

NET CASH (USED IN) FROM FINANCING ACTIVITIES

(2,562)

27

(7,141)

Effect of exchange rate changes on cash and cash equivalents

(6)

25

11

Changes in cash and cash equivalents associated with non-current assets and disposal groups held for sale

0

0

0

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

(1,315)

2,465

1,713

CASH AND CASH EQUIVALENTS, AT THE BEGINNING OF THE PERIOD

5,393

3,679

3,679

CASH AND CASH EQUIVALENTS, AT THE END OF THE PERIOD

4,078

6,144

5,393