DHL 1999 Annual Report Download - page 124

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Notes
135
Notes to the Consolidated Cash Flow Statement
In line with IAS 7 (Cash Flow Statements),the Consoli-
dated Cash Flow Statement shows the changes in cash
and cash equivalents within the Group during the
period under review, due to cash flows from and into
various activities.
Deutsche Postbank AG has prepared its own Consoli-
dated Cash Flow Statement, in addition to Deutsche
Post AG’s Consolidated Cash Flow Statement. For
reasons of comparability, Deutsche Postbank AG used
the same rules for preparation as Deutsche Post AG.
For the reporting on cash flows, a distinction is made
between cash flows from operating, investing and
financing activities. Cash and cash equivalents include
cash on hand, checks and credit with banks. They cor-
respond to cash and cash equivalents as disclosed in the
balance sheet.
In the Group’s Cash Flow Statement, inflow of cash
from operating activities amounted to EUR 4,642 mil-
lion in 1999, as against an outflow of cash amounting to
EUR 398 million in the 1998 financial year. The main
reason for this result was the decrease in receivables and
other assets, the changes in receivables and marketable
securities from financial services,and in liabilities from
financial services,as well as an increase in liabilities.
Cash used for investing in non-current assets amounted
to EUR 4,553 million in the period under review (1998:
EUR 1,400 million). Gains on the disposal of non-cur-
rent assets amounted to EUR 1,301 million (1998:EUR
1,082 million).
The following assets and debts were taken over/sold
with the acquisitions/disposals of companies (as of the
dates of acquisition/sale):
Cash and cash equivalents amounting to EUR 2,226
million (1998: EUR 4 million) were taken over with the
acquisitions of the companies. Cash and cash equiv-
alents amounting to EUR 8 million (1998: EUR 1 mil-
lion) were transferred with the sales of the companies.
Acquisition and sales prices for the companies were
paid with cash and cash equivalents.
Cash flow from financing activities is mainly due to
raising and repayment ofshort- and long-term borrow-
ings. Furthermore, dividends in the period under
review amounted to a total of EUR 157 million (1998:
EUR 56 million).
Deutsche Postbank Group’s net cash used for operating
activities,amounting to EUR 150 million,is mainly due
to the setting-up of liabilities from financial services
(offset against receivables and marketable securities
from financial services) and the other liabilities.
Net cash used for investing activities amounted to EUR
370 million and was the result of high investments in
non-current assets,largely due to the acquisition of DSL
Holding AG.
EUR mill.
Acquisitions
Non-current assets
Receivables from financial services
Other current assets
(excl. cash and cash equivalents)
Provisions
Liabilities from financial services
Other liabilities
Disposals
Non-current assets
Other current assets
(excl. cash and cash equivalents)
Provisions
Other liabilities
1999 1998
1,604 9
57,153 0
3,085 20
1,727 2
54,863 0
1,566 14
677 697
53 116
4 62
197 184