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Notes to the Cash Flow Statement

Summarized cash flow statement

In EUR mn

 

 

 

 

2021

2020

Cash flow from operating activities excluding net working capital effects

8,897

2,786

n.m.

Cash flow from operating activities

7,017

3,137

124%

Cash flow from investing activities

(1,820)

(5,948)

(69)%

Free cash flow

5,196

(2,811)

n.m.

Cash flow from financing activities

(2,977)

2,808

n.m.

Effect of exchange rate changes on cash and cash equivalents

(25)

(66)

n.m.

Net (decrease)/increase in cash and cash equivalents

2,195

(69)

n.m.

Cash and cash equivalents at beginning of period

2,869

2,938

(2)%

Cash and cash equivalents at end of period

5,064

2,869

77%

thereof cash disclosed within assets held for sale

14

15

(7)%

Cash and cash equivalents presented in the consolidated statement of financial position

5,050

2,854

77%

Free cash flow after dividends

4,199

(3,690)

n.m.

Cash flow from operating activities amounted to EUR 7,017 mn, up by EUR 3,880 mn compared to EUR 3,137 mn in 2020. This was primarily attributable to an improved market environment and the contribution of Borealis, partly offset by negative effects from net working capital components.

Cash flow from investing activities showed an outflow of EUR (1,820) in 2021, compared to EUR (5,948) mn in 2020 as 2020 included a cash outflow of EUR (3,870) mn related to the acquisition of an additional 39% stake in Borealis AG. Cash flow from investing activities in 2021 comprised cash inflows of EUR 443 mn related to the divestment of Gas Connect Austria, EUR 290 mn related to the sale of the stake in the Norwegian oil field Wisting as well as EUR 94 mn related to the sale of the shares in Kom Munai LLP and Tasbulat Oil Corporation LLP (Kazakhstan).

Cash flow from financing activities showed an outflow of EUR (2,977) mn compared to an inflow of EUR 2,808 mn in 2020. The deviation was mainly related to repayments of bonds in 2021 (EUR 1.55 bn), while 2020 contained the issuance of bonds of EUR 3.25 bn and hybrid bonds of EUR 1.25 bn.

mn
Million