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61.3 Cash flow statement (Postbank at equity)
Cash flow statement (Postbank at equity)
€m
2005
restated
2006
Net profit before taxes 2,663 2,296
Net finance cost excluding net income from measurement at equity 6731) 966
Net income from measurement at equity –330 –663
Profit from operating activities (EBIT) 3,006 2,599
Depreciation/amortization of noncurrent assets 1,8261) 1,601
Gains on disposal of noncurrent assets –165 –164
Non-cash income and expense 77 105
Change in provisions –2,466 –1,055
Taxes paid –260 –251
Net cash from operating activities before changes in working capital 2,018 2,835
Changes in working capital
Inventories 17 –54
Receivables and other assets –277 –865
Liabilities and other items –43 262
Net cash from operating activities 1,715 2,178
Proceeds from disposal of noncurrent assets
Divestitures 1,142 239
Other noncurrent assets 521 925
1,663 1,164
Cash paid to acquire noncurrent assets
Investments in companies –4,135 –440
Other noncurrent assets –1,905 –1,813
–6,040 –2,253
Interest received 226 86
Postbank dividend 137 137
Current financial instruments 154 –5
Net cash used in investing activities –3,860 –871
Change in financial liabilities –3241) 272
Dividend paid to Deutsche Post AG shareholders –556 –836
Dividend paid to other shareholders –8 –37
Issuance of shares under stock option plan 65 124
Interest paid –3841) –399
Net cash used in financing activities –1,207 –876
Net change in cash and cash equivalents –3,352 431
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 –16
Cash and cash equivalents at January 1 4,781 1,384
Cash and cash equivalents at December 31 1,384 1,761
1) Prior-period amounts restated in accordance with the consolidated financial statements.
Bonn, February 22, 2007
Deutsche Post AG
e Board of Management
160
Deutsche Post World Net Annual Report 2006