Consolidated cash flow statement for 2021
(in millions of euros) | 2021 | 2020 | |
Result for the reporting period | 500 | -2,581 | |
Adjustments for: | |||
Income tax | -367 | 117 | |
Results from investments accounted for using the equity method | -5 | -2 | |
Depreciation | 818 | 909 | |
Impairment losses and reversals | -85 | 1,730 | |
Net financing result | 349 | 20 | |
Change in provisions | -383 | 606 | |
Change in non-current financial assets (excluding deferred tax positions) | - | - | |
Change in other non-current liabilities not resulting in cash flows | -49 | -56 | |
Change in deferred credits | -39 | -45 | |
239 | 3,279 | ||
Result after adjustments | 739 | 698 | |
Change in inventories | -5 | -10 | |
Change in trade and other receivables | -505 | 10 | |
Change in current liabilities | 157 | 273 | |
Movements in working capital | -353 | 273 | |
Interest paid | -35 | -56 | |
Income tax received/paid | 4 | -1 | |
-31 | -57 | ||
Net cash flow from operating activities | 355 | 914 | |
Finance income received | 4 | 2 | |
15 | Dividends from investments accounted for using the equity method | - | 3 |
Disposal (acquisition) of subsidiaries, net of cash disposed of (acquired) | - | - | |
Acquisition of intangible assets and property, plant and equipment | -553 | -548 | |
12 | Acquisition of investment properties | -1 | - |
Receipts (payments) from other investments | 34 | -34 | |
Deconsolidation of Abellio Germany | -35 | - | |
Acquisition of financial fixed assets, including investments | -449 | -42 | |
Disposal of financial fixed assets, including investments | 19 | 4 | |
Disposal of intangible assets, property, plant and equipment and investment properties | 18 | 13 | |
Net cash flow from investing activities | -963 | -602 | |
Net cash flow from operating and investing activities | -608 | 312 | |
Repayment of borrowings | -78 | -494 | |
Repayment of lease liabilities | -478 | -482 | |
New borrowings | 676 | 1,001 | |
Dividends paid | - | - | |
Net cash flow from financing activities | 120 | 25 | |
Net decrease/increase in cash and cash equivalents | -488 | 337 | |
Cash and cash equivalents as at 1 January | 1,137 | 818 | |
Effect of exchange and translation differences on cash held | 31 | -18 | |
Cash and cash equivalents classified as held for sale | - | - | |
Cash and cash equivalents as at 31 December | 680 | 1,137 | |