DHL 2014 Annual Report Download - page 64

. Calculation of free cash flow
 m 2013
adjusted 1
2014 Q 4 2013
adjusted 1
Q 4 2014
Net cash from operating activities 2,989 3,040 1,562 1,659
Sale of property, plant and equipment and intangible assets 177 200 59 84
Acquisition of property, plant and equipment and intangible assets –1,381 –1,750 – 457 – 560
Cash outflow arising from change in property, plant
and equipment and intangible assets –1,204 –1,550 –398 – 476
Disposal of subsidiaries and other business units 32 4 1 1
Disposal of investments accounted for using the equity method
and other investments 0000
Acquisition of subsidiaries and other business units –37 –5 0–6
Acquisition of investments accounted for using the equity method
and other investments 0–1 0–1
Cash outflow/inflow arising from acquisitions / divestitures –5 –2 1–6
Interest received 55 45 8 8
Interest paid –166 –188 – 45 –71
Net interest paid –111 –143 –37 – 63
Free cash flow 1,669 1,345 1,128 1,114
1 Note .
Free cash ow declined by  million year-on-year to , million, primarily due
to the increase in cash paid to acquire property, plant and equipment and intangible
assets. At , million, free cash ow was also below the prior-year amount in the
fourth quarter of .
At , million, net cash used in nancing activities was , million higher
than in the previous year. In particular, the repayment of a bond of  million in Janu-
ary  made a signicant contribution towards repayments of non-current nancial
liabilities in the amount of , million. In the previous year, by contrast, the issue of
two bonds with a ve-year and ten-year term resulted in a cash inow of  million
for each bond. At  million, the dividend paid to our shareholders was another large
payment item, increasing by  million year-on-year. Payments to acquire treasury
shares amounted to  million in the reporting year, a signicant increase on the prior-
year gure of  million.
As a result of the aforementioned items, cash and cash equivalents declined from
, million as at  December  to , million.
Note 
Deutsche Post  Group —  Annual Report
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