Consolidated Cash flow Statement
for the year ended 31 December
|
In € millions |
Note |
2025 |
2024 |
|
Cash flows from operating activities |
|||
|
Result for the period |
208 |
242 |
|
|
Adjustments for: |
|||
|
Depreciation and amortization |
106 |
111 |
|
|
Amortization other identifiable intangible assets |
25 |
29 |
|
|
Income taxes |
73 |
97 |
|
|
Net finance expense |
40 |
53 |
|
|
Result from Investments accounted for using the equity method |
(5) |
(3) |
|
|
Adjusted profit for the period (EBITDA)1 |
448 |
529 |
|
|
Change in Inventories |
(0) |
0 |
|
|
Change in Contract assets and liabilities, provision for onerous contracts |
(13) |
(20) |
|
|
Change in Trade receivables |
81 |
(12) |
|
|
Change in Accounts payable |
38 |
(21) |
|
|
Change in Net working capital |
105 |
(53) |
|
|
Change in Other receivables |
(20) |
14 |
|
|
Change in Current liabilities |
(21) |
6 |
|
|
Change in Other working capital |
(41) |
20 |
|
|
Change in Provisions |
8 |
(15) |
|
|
Share-based compensation |
8 |
8 |
|
|
(Gain)/ loss on divestments |
3 |
(2) |
|
|
(Gain)/ loss on sale of assets |
1 |
- |
|
|
Result on derecognition of leases |
0 |
(0) |
|
|
Change in operational derivatives |
(0) |
(1) |
|
|
Settlement of operational derivatives |
- |
- |
|
|
Dividend received |
0 |
3 |
|
|
Interest received |
35 |
8 |
|
|
Interest paid |
(79) |
(52) |
|
|
Corporate tax paid |
(102) |
(95) |
|
|
Net cash generated from operating activities |
386 |
350 |
|
In € millions |
Note |
2025 |
2024 |
|
Cash flows from investing activities |
|||
|
Investments in (in)tangible assets |
(25) |
(45) |
|
|
Proceeds from sale of (in)tangible assets/ reversal of non-cash items |
1 |
0 |
|
|
Investments in consolidated companies |
(84) |
(2) |
|
|
Proceeds from sale of consolidated companies |
- |
1 |
|
|
Investments in/ loans to associates and joint ventures |
- |
(0) |
|
|
Proceeds from (sale of) associates and joint ventures |
0 |
0 |
|
|
Investments in other non-current assets and other investments |
(2) |
(2) |
|
|
Proceeds from (sale of) other non-current assets and other investments |
1 |
2 |
|
|
Net cash used in investing activities |
(109) |
(46) |
|
|
Cash flows from financing activities |
|||
|
Purchase of own shares |
(136) |
(51) |
|
|
Settlement of financing derivatives |
(3) |
9 |
|
|
New long-term loans and borrowings |
260 |
95 |
|
|
Repayment of long-term loans and borrowings |
(210) |
(116) |
|
|
New short-term borrowings |
110 |
60 |
|
|
Repayment of short-term borrowings |
(191) |
(60) |
|
|
Payment of lease liabilities |
(74) |
(78) |
|
|
Dividends paid to shareholders |
(89) |
(76) |
|
|
Net cash used in financing activities |
(333) |
(218) |
|
|
Net change in Cash and cash equivalents less Bank overdrafts |
(55) |
86 |
|
|
Exchange rate differences |
(41) |
9 |
|
|
Cash and cash equivalents less Bank overdrafts at 1 January |
375 |
280 |
|
|
Cash and cash equivalents less bank overdrafts available to the Group at 31 December |
279 |
375 |
|
|
Cash held on behalf of factor |
15 |
- |
|
|
Cash and cash equivalents less Bank overdrafts at 31 December |
294 |
375 |
