Condensed consolidated statements of cash flows
Third quarter |
|
January-September |
||
2017 |
2018 |
in € millions |
2017 |
2018 |
877 |
837 |
Net cash and cash equivalents at beginning of period |
1,441 |
1,278 |
|
|
|
|
|
130 |
155 |
Profit for the period |
466 |
410 |
69 |
60 |
Amortization and depreciation |
214 |
180 |
43 |
155 |
Changes in working capital |
(344) |
(427) |
(66) |
(45) |
Changes in provisions |
(329) |
(248) |
(25) |
(27) |
Interest paid |
(37) |
(41) |
(80) |
(74) |
Income tax paid |
(204) |
(111) |
86 |
60 |
Other changes |
210 |
80 |
157 |
284 |
Net cash from operating activities |
(24) |
(157) |
(59) |
(36) |
Capital expenditures |
(165) |
(106) |
(33) |
(13) |
Acquisitions and divestments net of cash acquired |
(28) |
6 |
6 |
(4) |
Other changes |
5 |
31 |
(86) |
(53) |
Net cash from investing activities |
(188) |
(69) |
(65) |
(74) |
Changes from borrowings |
26 |
418 |
(13) |
(23) |
Dividend paid |
(224) |
(501) |
– |
– |
Share repurchase |
(160) |
– |
(1) |
(29) |
Other changes |
– |
(28) |
(79) |
(126) |
Net cash from financing activities |
(358) |
(111) |
(8) |
105 |
Net cash used for continuing operations |
(570) |
(337) |
180 |
34 |
Cash flows from discontinued operations |
218 |
34 |
172 |
139 |
Net change in cash and cash equivalents of continued and discontinued operations |
(352) |
(303) |
(17) |
(24) |
Effect of exchange rate changes on cash and cash equivalents |
(57) |
(23) |
1,032 |
952 |
Net Cash and cash equivalents at September 30 |
1,032 |
952 |
Cash flows and net debt
Operating activities in Q3 2018 resulted in an inflow of €284 million (2017: €157 million). This was mainly driven by higher working capital inflow compared with 2017.
At September 30, 2018, net debt was €2,700 million versus €1,951 million at year-end 2017. The increase is mainly due to seasonality of the operating working capital.