Reclassified statement of cash flows
The reclassified statement of cash flows below summarises the legally required financial reporting format. It shows the connection between opening and closing cash and cash equivalents and the change in net financial debt during the period. The two statements are reconciled through the free cash flow, i.e. the cash surplus or deficit left over after servicing capital expenditure. Free cash flow closes either: (i) with the change in cash for the period, after adding/deducting all cash flows related to financial liabilities/assets (taking out/repaying financial receivables/payables) and equity (payment of dividends/capital injections); or (ii) with the change in net financial debt for the period, after adding/deducting the debt flows related to equity (payment of dividends/capital injections).
| Download XLS (12 kB) |
(million of €) |
2019 |
2020 |
||
|---|---|---|---|---|
Net profit |
1,090 |
1,101 |
||
Adjusted for: |
|
|
||
- Amortisation, depreciation and other non-monetary components |
527 |
523 |
||
- Net capital losses (capital gains) on asset sales and write-offs |
8 |
13 |
||
- Dividends, interest and income taxes |
552 |
504 |
||
Change in net working capital |
(264) |
(224) |
||
Dividends, interest and income taxes collected (paid) |
(427) |
(320) |
||
Cash inflow from operating activities |
1,486 |
1,597 |
||
Technical investments |
(954) |
(1,166) |
||
Technical divestments |
0 |
2 |
||
Acquisition of subsidiaries and businesses, net of liquidity acquired |
(41) |
(30) |
||
Equity investments |
12 |
(193) |
||
Change in non current financial assets |
(5) |
(298) |
||
Other changes relating to investment activities |
(16) |
53 |
||
Free cash flow |
482 |
(35) |
||
Repayment of financial payables for leased assets |
(6) |
(7) |
||
Change in current and non-current financial liabilities |
1,285 |
1,133 |
||
Change in current financial assets |
|
(5) |
||
Equity cash flow (a) |
(782) |
(893) |
||
Net cash flow for the year |
979 |
193 |
||
|
||||
| Download XLS (12 kB) |
(million of €) |
2019 |
2020 |
|---|---|---|
Free cash flow |
482 |
(35) |
Financial payables and receivables from companies entering the consolidation scope |
(47) |
(25) |
Change in financial payables for leased assets |
(25) |
(6) |
Equity cash flow |
(782) |
(893) |
Other changes |
(3) |
(5) |
Change in net financial debt |
(375) |
(964) |