DHL 2005 Annual Report Download - page 148

Download and view the complete annual report

Please find page 148 of the 2005 DHL annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 160

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160

cash ows from investing activities. All other items are treated in the
same way as in the consolidated cash ow statement. Further disclo-
sures relating to the cash ow statement can be found in note 50.
Bonn, February 15, 2006
Deutsche Post AG
e Board of Management
60.3 Cash ow statement (Postbank at equity)
Cash flow statement (Postbank at equity) 2004 2005
€m
January 1 to December 31
restated
Net profit before taxes1) 1,869 2,663
Net finance cost excluding net income from measurement at equity 816 664
Depreciation/amortization of noncurrent assets 1,699 1,777
Gains on disposal of noncurrent assets –32 –165
Non-cash income and expense 100 77
Net income from measurement at equity1) –350 –330
Change in provisions –1,207 –2,466
Taxes paid –45 –260
Net cash from operating activities before changes in working capital 2,850 1,960
Changes in working capital
Inventories –9 17
Receivables and other assets –806 –277
Liabilities and other items 543 –43
Net cash from operating activities 2,578 1,657
Proceeds from disposal of noncurrent assets
Divestitures 1,535 1,142
Other noncurrent assets 534 521
2,069 1,663
Cash paid to acquire noncurrent assets
Investments in companies –767 –4,135
Other noncurrent assets –1,662 –1,905
–2,429 –6,040
Interest and dividends received 240 226
Postbank dividend 589 137
Current financial instruments –112 154
Net cash used in (previous year: net cash from) investing activities 357 –3,860
Change in financial liabilities 429 –275
Dividend paid to Deutsche Post AG shareholders –490 –556
Dividend paid to other shareholders 0 –8
Issuance of shares under stock option plan 0 65
Interest paid –458 –375
Net cash used in financing activities –519 –1,149
Net change in cash and cash equivalents 2,416 –3,352
Effect of changes in exchange rates on cash and cash equivalents –14 –45
Change in cash and cash equivalents due to changes in consolidated group 46 0
Cash and cash equivalents at January 1 2,333 4,781
Cash and cash equivalents at December 31 4,781 1,384
1) Prior-period amounts restated in accordance with the consolidated financial statements.
e cash ow statement including Postbank at equity is based on the
consolidated nancial statements including Postbank at equity. is
means that the cash ows of Deutsche Postbank group are eliminated,
but the cash ows between Deutsche Post World Net and Deutsche
Postbank group are reincluded. In addition, net income from the
measurement of Deutsche Postbank group at equity is included as
non-cash income in net cash from operating activities. e dividend
paid by Deutsche Postbank AG to Deutsche Post AG is included in
Annual Report 2005
144