Consolidated cash flow statement for 2023
|
(in millions of euros) |
2023 |
2022* |
|
|
Result from continuing operations |
-390 |
527 |
|
|
Adjustments for: |
|||
|
Income tax |
-107 |
37 |
|
|
Result from investments recognised using the equity method |
1 |
- |
|
|
Depreciation and amortisation |
472 |
428 |
|
|
Impairment losses and reversals |
523 |
-385 |
|
|
Net financing result |
23 |
-104 |
|
|
Change in provisions |
-172 |
20 |
|
|
Change in non-current liabilities not resulting in cash flows |
14 |
-52 |
|
|
Change in deferred credits |
-37 |
-33 |
|
|
717 |
-89 |
||
|
Result after adjustments |
327 |
438 |
|
|
Change in inventories |
43 |
-50 |
|
|
Change in trade and other receivables |
159 |
303 |
|
|
Change in current liabilities |
-277 |
208 |
|
|
Movements in working capital |
-75 |
461 |
|
|
Interest paid |
-35 |
-14 |
|
|
Income tax received/paid |
- |
- |
|
|
Net cash flow from discontinued operations |
37 |
181 |
|
|
2 |
167 |
||
|
Net cash flow from operating activities |
254 |
1,066 |
|
|
Finance income received |
15 |
11 |
|
|
Disposal/acquisition of subsidiaries (net of cash disposed of/acquired) |
- |
9 |
|
|
Acquisition of intangible assets and property, plant and equipment |
-539 |
-429 |
|
|
Acquisition of investment property |
-9 |
-2 |
|
|
Receipts (payments) from other investments |
- |
- |
|
|
Acquisition of non-current financial assets, including investments** |
-778 |
-1,687 |
|
|
Disposal of non-current financial assets, including investments** |
941 |
1,380 |
|
|
Disposal of intangible assets, property, plant and equipment and investment property |
2 |
-7 |
|
|
Net investment cash flow from discontinued operations |
-244 |
-15 |
|
|
Net cash flow from investment activities |
-612 |
-740 |
|
|
Net cash flow from operating and investment activities |
-358 |
326 |
|
|
Repayment of borrowings |
-644 |
-50 |
|
|
Repayment of lease liabilities |
-99 |
-72 |
|
|
New borrowings |
901 |
129 |
|
|
Net financing cash flow from discontinued operations |
-37 |
-291 |
|
|
Net cash flow from financing activities |
121 |
-284 |
|
|
Net decrease/increase in cash and cash equivalents |
-237 |
42 |
|
|
Cash and cash equivalents as at 1 January*** |
700 |
680 |
|
|
Effect of exchange rate fluctuations and translation differences on cash held |
-3 |
-22 |
|
|
Cash and cash equivalents classified as held for sale as at 31 December |
- |
-304 |
|
|
Cash and cash equivalents as at 31 December |
460 |
396 |
|
- *Due to adjustment of the value of negative goodwill within one year of acquisition, financial income was retrospectively adjusted by €5 million negative. The comparative figures for 2022 have been adjusted for this. See note 32. Also, comparative figures for 2022 have been adjusted for comparison purposes.
- **This mainly concerns the acquisition and disposal of money market funds during 2023.
- ***Includes €304 million cash and cash equivalents classified as held for sale (see note 1).