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Consolidated statement of cash flows

millions of €

 

 

 

 

 

 

 

 

Q1-Q3 2022

Q1-Q3 2021

Change

Q3 2022

Q3 2021

Change

FY
2021

Profit (loss) before income taxes

9,510

7,011

2,499

2,350

1,974

376

7,918

Depreciation, amortization and impairment losses

21,357

20,625

732

7,021

7,002

19

27,482

(Profit) loss from financial activities

2,574

3,661

(1,087)

1,051

1,491

(440)

5,139

(Profit) loss on the disposal of fully consolidated subsidiaries

(2,655)

(130)

(2,525)

(102)

32

(134)

(130)

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

(71)

(13)

(58)

(4)

(13)

9

(13)

Other non-cash transactions

1,261

90

1,171

946

85

861

226

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

29

62

(33)

(27)

64

(91)

161

Change in assets carried as operating working capital

(167)

249

(416)

267

(187)

454

(1,475)

Change in other operating assets

(431)

(164)

(267)

(358)

378

(736)

(1,059)

Change in provisions

(250)

(368)

118

104

131

(27)

(152)

Change in liabilities carried as operating working capital

61

(1,173)

1,234

(311)

(43)

(268)

241

Change in other operating liabilities

661

147

514

18

(250)

268

(260)

Income taxes received (paid)

(590)

(618)

28

(333)

(262)

(71)

(893)

Dividends received

7

6

1

4

4

0

8

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

0

(1)

1

0

(1)

1

(1)

Cash generated from operations

31,296

29,384

1,912

10,625

10,406

219

37,191

Interest paid

(4,884)

(4,549)

(335)

(1,524)

(1,344)

(180)

(6,158)

Interest received

890

786

104

222

170

52

1,138

Net cash from operating activities

27,302

25,620

1,682

9,323

9,233

90

32,171

Of which: from discontinued operation

536

624

(88)

79

163

(84)

808

Cash outflows for investments in

 

 

 

 

 

 

 

Intangible assets

(6,204)

(11,519)

5,315

(1,525)

(1,431)

(94)

(12,749)

Property, plant and equipment

(12,004)

(9,740)

(2,264)

(4,425)

(3,236)

(1,189)

(13,616)

Non-current financial assets

(635)

(259)

(376)

(134)

(83)

(51)

(336)

Payments for publicly funded investments in the broadband build-out

(267)

(294)

27

(105)

(114)

9

(436)

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

249

202

47

121

99

22

420

Changes in cash and cash equivalents in connection with the acquisition of control of subsidiaries and associates

(52)

(1,613)

1,561

0

(1,588)

1,588

(1,617)

Proceeds from disposal of

 

 

 

 

 

 

 

Intangible assets

2

1

1

0

0

0

2

Property, plant and equipment

241

129

112

158

24

134

137

Non-current financial assets

210

244

(34)

54

54

0

352

Changes in cash and cash equivalents in connection with the loss of control of subsidiaries and associates

4,189

347

3,842

100

202

(102)

352

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

(1,241)

(185)

(1,056)

392

(307)

699

89

Other

1

0

1

0

0

0

0

Net cash used in investing activities

(15,511)

(22,687)

7,176

(5,364)

(6,380)

1,016

(27,403)

Of which: from discontinued operation

(168)

(194)

26

(70)

(79)

9

(296)

Proceeds from issue of current financial liabilities

2,933

4,287

(1,354)

1,721

(11)

1,732

4,431

Repayment of current financial liabilities

(7,250)

(15,960)

8,710

(3,812)

(4,856)

1,044

(18,040)

Proceeds from issue of non-current financial liabilities

3,172

10,278

(7,106)

3,171

1,703

1,468

12,925

Repayment of non-current financial liabilities

0

0

0

0

0

0

0

Dividend payments (including to other shareholders of subsidiaries)

(3,385)

(3,087)

(298)

(138)

(178)

40

(3,145)

Principal portion of repayment of lease liabilities

(3,715)

(5,215)

1,500

(1,300)

(2,180)

880

(6,458)

Cash inflows from transactions with non-controlling entities

27

12

15

2

1

1

14

Cash outflows from transactions with non-controlling entities

(3,287)

(409)

(2,878)

(658)

(62)

(596)

(506)

Other

0

0

0

0

0

0

0

Net cash used in financing activities

(11,505)

(10,094)

(1,411)

(1,014)

(5,582)

4,568

(10,779)

Of which: from discontinued operation

(177)

(171)

(6)

(36)

(25)

(11)

(193)

Effect of exchange rate changes on cash and cash equivalents

616

492

124

300

136

164

620

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

(21)

68

(89)

(28)

69

(97)

68

Net increase (decrease) in cash and cash equivalents

880

(6,602)

7,482

3,216

(2,524)

5,740

(5,323)

Cash and cash equivalents, at the beginning of the period

7,617

12,939

(5,322)

5,281

8,861

(3,580)

12,939

Cash and cash equivalents, at the end of the period

8,497

6,337

2,160

8,497

6,337

2,160

7,617

As a result of the agreement concluded on July 13, 2022, from the third quarter of 2022, the GD tower companies are recognized in the interim consolidated financial statements as a discontinued operation. The consolidated statement of cash flows continues to include the discontinued operation in the Group Development operating segment. The top line of the consolidated statement of cash flows is profit before income taxes, which includes the profit of both the continuing operations and the discontinued operation. In the consolidated statement of cash flows, the contributions by the GD tower companies are each stated in a separate “of which” line item.