Consolidated statement of cash flows

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millions of €

 

 

 

 

 

 

Q3
2019

Q3
2018

Q1-Q3
2019

Q1-Q3
2018

FY
2018

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 more information on the change in estimates for publicly funded investments in the broadband build-out, please refer to the section “Changes in accounting policies, changes in estimates.”

PROFIT (LOSS) BEFORE INCOME TAXES

2,442

2,029

6,178

4,956

5,153

Depreciation, amortization and impairment losses

4,256

3,344

12,811

9,645

13,836

(Profit) loss from financial activities

615

502

1,488

2,098

2,848

(Profit) loss on the disposal of fully consolidated subsidiaries

0

0

12

0

0

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

(142)

0

(143)

0

0

Other non-cash transactions

118

103

432

333

430

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

41

5

82

(86)

(126)

Change in assets carried as operating working capital

77

(475)

423

(112)

(998)

Change in other operating assets

(35)

(130)

(427)

(182)

(337)

Change in provisions

104

168

(292)

(500)

(100)

Change in liabilities carried as operating working capital

(519)

(27)

(945)

(1,281)

(515)

Change in other operating liabilities

(256)

(46)

207

402

(11)

Income taxes received (paid)

(176)

(241)

(546)

(463)

(697)

Dividends received

2

7

15

180

181

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

0

0

0

0

0

CASH GENERATED FROM OPERATIONS

6,528

5,238

19,294

14,990

19,663

Interest paid

(917)

(724)

(2,984)

(2,568)

(3,307)

Interest received

312

339

1,221

1,119

1,592

NET CASH FROM OPERATING ACTIVITIES

5,924

4,853

17,531

13,542

17,948

Cash outflows for investments in

 

 

 

 

 

Intangible assets

(762)

(769)

(3,601)

(2,458)

(3,353)

Property, plant and equipment

(2,417)

(2,349)

(7,606)

(6,893)

(9,139)

Non-current financial assets

(276)

(313)

(355)

(517)

(639)

Payments for publicly funded investments in the broadband build-outa

(236)

n.a.

(236)

n.a.

n.a.

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

106

n.a.

106

n.a.

n.a.

Payments to acquire control of subsidiaries and associates

(29)

(1,794)

(277)

(2,076)

(2,080)

Proceeds from disposal of

 

 

 

 

 

Intangible assets

0

0

0

1

2

Property, plant and equipment

26

76

108

380

523

Non-current financial assets

37

133

71

432

596

Proceeds from the loss of control of subsidiaries and associates

(1)

(4)

31

(65)

(67)

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

665

(403)

1,523

(464)

(144)

Other

0

0

(2)

5

5

NET CASH USED IN INVESTING ACTIVITIES

(2,886)

(5,422)

(10,236)

(11,655)

(14,297)

Proceeds from issue of current financial liabilities

12

14,104

10,758

48,256

51,597

Repayment of current financial liabilities

(1,999)

(14,952)

(14,419)

(53,820)

(57,253)

Proceeds from issue of non-current financial liabilities

2,662

1,076

5,695

7,984

8,375

Repayment of non-current financial liabilities

(14)

0

(18)

(21)

(23)

Dividend payments (including to other shareholders of subsidiaries)

(152)

(106)

(3,561)

(3,254)

(3,254)

Principal portion of repayment of lease liabilities

(977)

(226)

(2,837)

(629)

(1,174)

Cash inflows from transactions with non-controlling entities

1

0

2

3

29

Cash outflows from transactions with non-controlling entities

(38)

(41)

(183)

(1,458)

(1,557)

Other

0

0

0

0

0

NET CASH USED IN FINANCING ACTIVITIES

(505)

(145)

(4,563)

(2,939)

(3,259)

Effect of exchange rate changes on cash and cash equivalents

35

5

51

(26)

(17)

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

0

0

0

0

(8)

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

2,567

(709)

2,782

(1,078)

367

CASH AND CASH EQUIVALENTS, AT THE BEGINNING OF THE PERIOD

3,894

2,943

3,679

3,312

3,312

CASH AND CASH EQUIVALENTS, AT THE END OF THE PERIOD

6,461

2,235

6,461

2,235

3,679