Consolidated cash flow statement

€ Million

1st half year 2024

1st half year 2023

Profit for the year

122

15

Adjustments for:

Depreciation and decommissioning

237

230

Amortised contributions for installation of grids and connections

-18

-17

Received contributions for installation of grids and connections

52

59

Change in deferred corporate income tax

27

3

Change in non-current provisions

0

-5

Financial income

-3

-8

Financial expenses

25

18

Corporate income tax expense recognised through profit or loss

15

0

Change in operational working capital excluding tax and interest

-46

-5

Interest received

0

6

Interest paid

-28

-9

Corporate income tax paid or received

-21

-12

Cash flow from operating activities

362

275

Investments in property, plant and equipment

-622

-495

Investments in intangible assets

-26

-20

Cash flow from investing in (in)tangible fixed assets

-648

-515

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

-286

-240

Loans granted

-3

-3

Repayment of loans granted

3

4

Increase in deposits1

-

-500

Decrease in deposits1

-

525

Cash flow from other investing activities

0

26

Cash flow from investing activities

-648

-489

Cash flow before financing activities

-286

-214

Green bond issue

494

498

Increase interest-bearing liabilities2

658

-

Repayment of interest-bearing liabilities2

-658

-2

Repayment of lease liability

-15

-16

Dividend paid

-36

-193

Cash flow from financing activities

443

287

Total cash flows

157

73

Cash and cash equivalents at the beginning of the financial year

127

217

Cash and cash equivalents at the end of the financial year

284

290

  • 1At 30 June 2024 € 196 million of excess liquidity was placed in money market funds. Liquidity placed in money market funds qualifies as cash and cash equivalents and is therefore not presented on this line.
  • 2Concerns the issuance and repayment of commercial paper under the Euro Commercial Paper (ECP) programme, the obtaining and repayment of
    bilateral cash loans and issuance and redemption of notes.