Consolidated cash flow statement

€ Million

Notes

2023

2022

Profit for the year

1,300

199

Adjustments for:

Depreciation and decommissioning

5

468

469

Amortised contributions for installation of grids and connections

24

-34

-31

Received contributions for installation of grids and connections

24

126

123

Change in deferred corporate income tax

25

47

-3

Change in non-current provisions

23

-7

-10

Financial income

9

-19

-5

Financial expenses

9

40

33

Corporate income tax expense recognised through profit or loss

11

-32

63

Profit on sale of Fudura B.V.

20 en 30

0

-1,113

Change in operational working capital excluding tax and interest

30

-9

-58

Other

3

0

Interest received

30

14

1

Interest paid

30

-31

-41

Corporate income tax paid or received

30

-11

-55

Dividends from joint ventures and associates

32

0

0

Cash flow from operating activities

627

673

Investments in property, plant and equipment

12

-1,098

-867

Investments in intangible assets

13

-45

-34

Cash flow from investing in (in)tangible fixed assets

-1,143

-901

Cash flow from operating activities and investing in (in)tangible fixed assets

-516

-228

Net proceeds from sale of Fudura B.V.

0

1,320

Loans granted

15

-3

-7

Repayment of loans granted

15

8

9

Increase in deposits¹

19

-500

-650

Decrease in deposits¹

19

1,150

100

Cash flow from other investing activities

655

772

Cash flow from investing activities

-488

-129

Cash flow before financing activities

139

544

Green bond issue

22 en 28

498

0

Increase in interest-bearing liabilities²

22 en 28

0

2,835

Repayment of interest-bearing liabilities²

22 en 28

-502

-3,135

Repayment of lease liability

22 en 28

-32

-34

Dividend paid

32

-193

-100

Cash flow from financing activities

-229

-434

Total cash flows

-90

110

Cash and cash equivalents at the beginning of the financial year

30

217

107

Cash and cash equivalents at the end of the financial year

30

127

217