DHL 2003 Annual Report Download - page 144
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52.3 Cash flow statement of Deutsche Post World Net including Postbank at equity
For the period January 1 to December 31
in €m Deutsche Post Deutsche Post
World Net World Net
Postbank at Postbank at
equity equity
2002 2003
Net profit before taxes and extraordinary expense 1,589 1,770
Extraordinary expense –907 0
Net profit before taxes 682 1,770
Net interest income 6001) 685
Depreciation/amortization and reversals of write-downs of noncurrent assets 1,777 1,580
Gains on disposal of noncurrent assets –315 – 85
Non-cash income and expense 1222) 134
Net income from measurement at equity –1,640 –353
Change in provisions 1,0321) – 875
Taxes paid –49 –45
Net profit before changes in working capital 2,209 2,811
Changes in working capital
Inventories –92) 9
Receivables and other assets 4652)4) 519
Receivables/liabilities from financial services 00
Liabilities and other items 5553) 59
Extraordinary expense from EU state aid proceedings 0 –907
Net cash from operating activities 3,220 2,491
Proceeds from disposal of noncurrent assets
Divestitures 023
Other noncurrent assets 667 496
667 519
Cash paid to acquire noncurrent assets
Investments in companies –1,197 –1,358
Other noncurrent assets –1,588 –1,356
–2,785 –2,714
Interest and dividends received 104 138
Postbank dividend 137 99
Current financial instruments 32 71
Net cash used in investing activities –1,845 –1,887
Proceeds from issue of financial liabilities 2,854 1,867
Repayment of financial liabilities –2,184 –1,410
Dividends and other payments to owners – 412 – 445
Interest paid –186 –256
Net cash used in (previous year: from) financing activities 72 –244
Net change in cash and cash equivalents 1,447 360
Effect of changes in exchange rates on cash and cash equivalents –193) –49
Cash and cash equivalents at Jan. 1 594 2,022
Cash and cash equivalents at Dec. 31 2,0224) 2,333
1) Prior-period amounts restated due to reclassification of interest cost on pension obligations and other interest-bearing provisions from EBITA to net finance costs
2) Prior-period amounts restated due to reclassification of non-cash income and expenses
3) Prior-period amounts restated: effect of changes in exchange rates on cash and cash equivalents
4) Item restated due to reclassification of cash equivalents from receivables and other assets to cash and cash equivalents
Bonn, February 17, 2004
Deutsche Post AG, Board of Management
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