30 Notes to the statement of cash flows
The statement of cash flows shows the changes in the Haniel Group’s cash and cash equivalents in the course of the financial year resulting from cash inflows and outflows. The statement of cash flows is divided into cash flow from operating, investing and financing activities. The cash and cash equivalents reported at the reporting date are the total of bank balances with an original maturity of less than three months, cash on hand and cheques, and money market funds, and are identical to the cash and cash equivalents reported in the statement of financial position.
The cash flow from operating activities is determined indirectly on the basis of the profit after taxes and essentially contains sales-related payments, dividends from investments accounted for at equity, interest paid and received as well as tax payments. Haniel’s internal cash earnings indicator used for management purposes, Haniel cash flow, is shown as a separate line item. Haniel cash flow is the profit after taxes, adjusted for all material non-cash income and expenses, and non-recurring, non-operating income and expenses, plus other cash components. Haniel cash flow consequently corresponds to the cash flow from operating activities excluding changes in current net assets.
The cash flow from investing activities includes payments for purchases and disposals of individual assets as well as for consolidated companies and other business units. In the financial year the proceeds from the disposal of property, plant and equipment, intangible assets and other assets include proceeds from the disposal of 16.25 million ordinary shares in METRO AG. In addition to payments for business combinations conducted in the financial year, the payments for acquisitions of consolidated companies and other business units include a EUR 53 million payment to settle a purchase price liability relating to a previous business combination in the TAKKT division.
The cash flow from financing activities comprises payments in connection with shareholder transactions as well as financial liabilities. The shareholder transactions essentially include payments to shareholders and payments from changes in shares in companies already consolidated. The payments to shareholders comprise dividend payments to the shareholders of Franz Haniel & Cie. GmbH in the amount of EUR 40 million (previous year: EUR 30 million) and payments for the purchase of treasury shares in the amount of EUR 4 million (previous year: EUR 2 million).
The cash flow from financing activities also includes the cash changes in financial liabilities. In this regard, the corresponding inflows include the total proceeds from the issuance of the exchangeable bond linked to ordinary shares of METRO AG, net of the cash transaction costs, as well as the proceeds from the issuance of promissory loan notes in the ELG division. In the previous year, payments for the repayment of financial liabilities included in particular amounts for the repurchase of euro bonds and commercial paper in the Holding and other companies segment as well as the repayment of bank loans and promissory loan notes.
The statement of cash flows contains the following cash flows which are attributable to discontinued operations:
|Cash flow from operating activities||0||-69|
|Cash flow from investing activities||0||-5|
|Cash flow from financing activities||0||11|