Group Financial Statements

Consolidated Statement of Cash Flows
from 1 January until 31 December 2018

In € thousand

Notes

1–12/2018

1–12/2017
adjusted

Profit/(loss) for the period

 

235,148

184,410

Impairment losses, amortisation of goodwill and other intangible assets, and depreciation of property, plant and equipment

 

42,397

42,684

Impairment losses/reversal of impairment losses on other investments

 

61,040

160,387

Gain/loss on the disposal of investments

 

–40,202

–57,103

Change in deferred acquisition costs

 

–18,939

1,697

Change in securities at fair value through profit or loss

 

143,880

–105,942

Change in direct insurance receivables

 

79,230

–1,868

Change in other receivables

 

–43,006

–18,385

Change in direct insurance liabilities

 

–270,341

5,440

Change in other liabilities

 

56,505

–12,521

Change in technical provisions

 

–16,238

59,725

Change in defined benefit obligations

 

–111,585

–7,513

Change in deferred tax assets and deferred tax liabilities

 

25,795

27,615

Change in other statement of financial position items

 

–148,439

194,748

Net cash flow from operating activities

 

–4,755

473,376

of which from discontinued operations

 

0

258,179

 

 

 

 

Proceeds from disposal of intangible assets and property, plant and equipment

 

8,170

4,566

Payments for acquisition of intangible assets and property, plant and equipment

 

–122,833

–76,857

Proceeds from disposal of consolidated companies

 

56,887

294,047

Proceeds from disposal and maturity of other investments

 

5,826,647

4,714,461

Payments for acquisition of other investments

 

–5,834,229

–4,999,223

Change in unit-linked and index-linked life insurance investments

 

283,310

–154,564

Net cash flow from investing activities

 

209,981

–217,571

of which from discontinued operations

 

0

35,300

 

 

 

 

Dividend payments

20

–158,143

–153,024

Transactions between owners

 

–1,438

–26

Proceeds from other financing activities

 

772,196

0

Payments from other financing activities

24

–23,704

–1,131

Net cash flow from financing activities

 

588,911

–154,181

 

 

 

 

Change in cash and cash equivalents

 

794,137

101,624

Change in cash and cash equivalents due to acquisitions or disposals of consolidated subsidiaries

 

1,894

0

of which from discontinued operations

 

0

293,479

Change in cash and cash equivalents due to movements in exchange rates

 

–54

–1,251

Cash and cash equivalents at beginning of year

13

650,307

549,934

Cash and cash equivalents at end of period

13

1,444,391

650,307

 

 

 

 

Income taxes paid (Net cash flow from operating activities)

 

–31,229

–21,705

Interest paid (Net cash flow from operating activities)

 

–58,876

–66,048

Interest received (Net cash flow from operating activities)

 

404,984

443,344

Dividends received (Net cash flow from operating activities)

 

57,961

27,528