Consolidated cash flow statement for 2022
(in millions of euros) | 2022 | 2021 | |
Result from continued operations | 532 | 83 | |
Adjustments for: | |||
Income tax | 37 | -343 | |
Results from investments accounted for using the equity method | - | -1 | |
13,14,15.32 | Depreciation and amortisation | 428 | 354 |
13,14,15.32 | Impairment losses and reversals | -385 | 1 |
Net financing result | -186 | 316 | |
Change in provisions | 97 | -59 | |
Change in other non-current liabilities not resulting in cash flows | 20 | 83 | |
Change in deferred credits | -33 | -39 | |
-22 | 312 | ||
Result after adjustments | 510 | 395 | |
Change in inventories | -71 | -6 | |
Change in trade and other receivables | 82 | -395 | |
Change in current liabilities | 378 | 52 | |
Movements in working capital | 389 | -349 | |
Interest paid | -14 | -1 | |
Income tax received/paid | - | - | |
Net cash flow from discontinued operations | 181 | 310 | |
167 | 309 | ||
Net cash flow from operating activities | 1,066 | 355 | |
Finance revenues received | 11 | 3 | |
Disposal/acquisition of subsidiaries, net of cash disposed of (acquired) | 9 | - | |
13.15 | Acquisition of intangible assets and property, plant and equipment | -429 | -541 |
14 | Acquisition of investment properties | -2 | -1 |
Receipts (payments) from other investments | - | 34 | |
Deconsolidation of Abellio Germany | - | -35 | |
Acquisition of financial assets, including investments* | -1,687 | -449 | |
17.24 | Disposal of financial assets, including investments* | 1,380 | 15 |
13,14,15 | Disposal of intangible assets, property, plant and equipment and investment properties | -7 | 18 |
Net investing cash flow from discontinued operations | -15 | -7 | |
Net cash flow from investing activities | -740 | -963 | |
Net cash flow from operating and investing activities | 326 | -608 | |
Repayment of borrowings | -50 | -49 | |
Repayment of lease liabilities | -72 | -88 | |
New borrowings | 129 | 651 | |
Net financing cash flow from discontinued operations | -291 | -394 | |
Net cash flow from financing activities | -284 | 120 | |
Net decrease/increase in cash and cash equivalents | 42 | -488 | |
Cash and cash equivalents as at 1 January | 680 | 1,137 | |
Effect of exchange rate fluctuations on cash held | -22 | 31 | |
Cash and cash equivalents classified as held for sale as at 31 December | -304 | - | |
Cash and cash equivalents as at 31 December | 396 | 680 | |
- * This mainly concerns the acquisition and disposal of money market funds during 2022.