DHL 2013 Annual Report Download - page 63
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. Calculation of free cash flow
m
2012 2013 Q 4 2012 Q 4 2013
Net cash used in / from operating activities –203 2,994 – 629 1,561
Sale of property, plant and equipment and intangible assets 225 177 76 59
Acquisition of property, plant and equipment and intangible assets –1,639 –1,389 – 542 – 460
Cash outflow arising from change in property, plant
and equipment and intangible assets –1,414 –1,212 – 466 – 401
Disposal of subsidiaries and other business units 39 32 –1 1
Acquisition of subsidiaries and other business units – 57 –37 –1 0
Cash outflow / inflow arising from acquisitions / divestitures –18 –5 –2 1
Interest received 46 42 10 8
Interest paid –296 –166 –26 – 45
Net interest paid –250 –124 –16 –37
Free cash flow –1,885 1,653 –1,113 1,124
Free cash ow improved signicantly year-on-year from –, million to
, million. In the fourth quarter, it changed from –, million in the comparable
prior-year period to , million.
Net cash used in nancing activities amounted to million in the year under
review, compared with a net cash inow of , million in the previous year. As in
, the dividend paid to our shareholders was the largest payment in this area, at
million. e cash inow from the issuance of non-current nancial liabilities
declined by , million to , million, mainly because we issued new bonds and
a convertible bond to fund our pension obligations in the previous year. In the reporting
year, the issue of two bonds with a ve-year and ten-year term resulted in a cash inow
of million for each bond. Interest payments fell by million to million,
primarily because interest of million had been incurred in the previous year for
the additional payment.
Cash and cash equivalents rose from , million as at December to
, million, due to the changes in the cash ows from the individual areas of activity.
59Deutsche Post DHL 2013 Annual Report
Report on Economic Position
Financial position
Group Management Report