DHL 2006 Annual Report Download - page 110

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Cash Flow Statement
January 1 to December 31
€m
Note 2005
restated
2006
Net profit before taxes 3,053 2,842
Net finance costs1) 711 1,030
Profit from operating activities (EBIT) 3,764 3,872
Depreciation/amortization of noncurrent assets1) 1,961 1,771
Gains on disposal of noncurrent assets –168 –160
Non-cash income and expense 280 104
Change in provisions –2,531 –783
Taxes paid –313 –343
Net cash from operating activities before changes in working capital 2,993 4,461
Changes in working capital
Inventories 17 –51
Receivables and other assets –503 –917
Receivables/liabilities from financial services 221 –368
Liabilities and other items 896 797
Net cash from operating activities 51.1 3,624 3,922
Proceeds from disposal of noncurrent assets
Divestitures 156 331
Other noncurrent assets 605 943
761 1,274
Cash paid to acquire noncurrent assets
Investments in companies –4,135 –2,094
Other noncurrent assets –2,041 –1,972
–6,176 –4,066
Interest received 210 100
Current financial instruments 153 –5
Net cash used in investing activities 51.2 –5,052 –2,697
Change in financial liabilities1) –352 345
Dividend paid to Deutsche Post AG shareholders –556 –836
Dividend paid to other shareholders –76 –105
Issuance of shares under stock option plan 65 124
Interest paid1) –369 –393
Net cash used in financing activities 51.3 –1,288 –865
Net change in cash and cash equivalents –2,716 360
Effect of changes in exchange rates on cash and cash equivalents –45 –38
Change in cash and cash equivalents associated with noncurrent assets held for sale 0 –15
Cash and cash equivalents at January 1 4,845 2,084
Cash and cash equivalents at December 31 51.4 2,084 2,391
1) Prior-period amounts restated, see Note 5.
106
Deutsche Post World Net Annual Report 2006
Cash Flow Statement