Consolidated statement of cash flows

Profit for the year

Changes in working capital

Changes in provisions

Dividends received from associates and joint ventures

Income taxes paid (excl. income taxes paid on sale of investments)

Cash flow from operating activities

of which cash flow linked to acquisition of subsidiaries and excluded from Free Cash Flow

Acquisition (-) of subsidiaries

Acquisition (-) of investments – Other

Loans to associates and non consolidated companies

Sale (+) of subsidiaries and investments

Income taxes paid on sale of investments

Acquisition (-) of property, plant and equipment

of which capital expenditures required by share sale agreement and excluded from Free Cash Flow

Acquisition (-) of intangible assets

Sale (+) of property, plant and equipment and intangible assets

of which cash flow related to the sale of real estate in the context of restructuring/dismantling/remediation

Dividends from available-for-sale financial assets

Changes in non-current financial assets

Cash flow from investing activities

Acquisition (-) / sale (+) of treasury shares

Increase in borrowings

Repayment of borrowings

Changes in other current financial assets

Interests paid

Coupons paid on perpetual hybrid bonds

Dividends paid

Other

Cash flow from financing activities

Net change in cash and cash equivalents

Currency translation differences

Opening cash balance