Group Financial Statements

Consolidated Statement of Cash Flows
from 1 January until 31 December 2021

In € thousand

Notes

1–12/2021

1–12/2020

Profit/(loss) for the period

 

317,904

24,281

Amortisation of VBI, impairment of goodwill and other intangible assets, and depreciation of property, plant and equipment

 

148,193

191,812

Impairment losses/reversal of impairment losses on other investments

 

56,902

132,409

Gain/loss on the disposal of investments

 

–36,925

–40,089

Change in deferred acquisition costs

 

–63,111

7,592

Change in securities at fair value through profit or loss

 

–30,576

45,408

Change in direct insurance receivables

 

8,127

8,542

Change in other receivables

 

–59,309

–6,437

Change in direct insurance liabilities

 

–18,788

–56,653

Change in other liabilities

 

65,952

22,250

Change in technical provisions

 

393,384

–208,442

Change in defined benefit obligations

 

–36,657

208

Change in deferred tax assets and deferred tax liabilities

 

–34,583

–5,936

Change in other statement of financial position items

 

15,570

52,963

Net cash flow from operating activities

 

726,084

167,908

 

 

 

 

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

 

25,352

13,712

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

 

–173,070

–122,625

Proceeds from disposal of consolidated companies

 

1,440

587

Net payments for acquisition of consolidated companies

 

–38,917

–967,128

Proceeds from disposal and maturity of other investments

 

3,334,346

3,466,661

Payments for acquisition of other investments

 

–3,866,428

–3,447,712

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

 

64,070

341,815

Net cash flow from investing activities

 

–653,207

–714,690

 

 

 

 

Dividend payments

21

–58,578

–56,658

Transactions between owners

 

–11,818

–577

Proceeds from other financing activities

 

370,323

792,871

Payments from other financing activities

26

–427,860

–22,815

Net cash flow from financing activities

 

–127,933

712,821

 

 

 

 

Change in cash and cash equivalents

 

–55,057

166,039

of which due to acquisitions of consolidated subsidiaries

 

1,259

31,202

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

 

6,927

–4,948

Cash and cash equivalents at beginning of year

14

640,713

479,621

Cash and cash equivalents at end of period

14

592,583

640,713

 

 

 

 

Income taxes paid (Net cash flow from operating activities)

 

–102,334

–33,371

Interest paid (Net cash flow from operating activities)

 

–151,136

–65,202

Interest received (Net cash flow from operating activities)

 

375,223

386,059

Dividends received (Net cash flow from operating activities)

 

147,558

43,544