Consolidated statement of cash flows
PostNL Consolidated statement of cash flows in € million
2022, 2023
| Year ended at 31 December | Notes | 2022 | 2023 |
|---|---|---|---|
| Profit/(loss) before income taxes | (1,311) | 78 | |
| Change in pension accounting classification | 1,357 | ||
| Profit/(loss) before income taxes, excluding change in pension accounting classification | 46 | 78 | |
| Adjustments for: | |||
| Depreciation, amortisation and impairments | 156 | 177 | |
| Share-based payments | 2 | 2 | |
| (Profit)/loss on disposal of assets | (5) | (9) | |
| Interest and similar income | (3) | (20) | |
| Interest and similar expenses | 22 | 22 | |
| Results from investments in JVs/associates | 1 | 4 | |
| Investment income | 15 | (3) | |
| Pension liabilities | 47 | 0 | |
| Other provisions | (3) | 14 | |
| Changes in provisions | 44 | 14 | |
| Inventory | (2) | (2) | |
| Trade accounts receivable | 30 | 50 | |
| Other accounts receivable | (2) | 0 | |
| Other current assets | (11) | (15) | |
| Trade accounts payable | 18 | 27 | |
| Other current liabilities excluding short-term financing and taxes | (36) | (51) | |
| Changes in working capital | (3) | 7 | |
| Cash generated from operations | 259 | 277 | |
| Interest paid | (20) | (20) | |
| Income taxes received/(paid) | 1 | (35) | |
| Net cash (used in)/from operating activities | 2.5.1 | 240 | 222 |
| Interest received | 3 | 23 | |
| Investments in JVs/associates | (2) | (0) | |
| Capital expenditure on intangible assets | (80) | (74) | |
| Capital expenditure on property, plant and equipment | (58) | (52) | |
| Proceeds from sale of property, plant and equipment | 12 | 1 | |
| Changes in other loans receivable | 3 | 2 | |
| Other changes in (financial) fixed assets | 0 | (2) | |
| Net cash (used in)/from investing activities | 2.5.2 | (122) | (102) |
| Dividends paid | (165) | (29) | |
| Share buyback | (164) | ||
| Changes related to non-controlling interests | (1) | (0) | |
| Proceeds from long-term borrowings | (0) | 18 | |
| Repayments of long-term borrowings | 0 | (47) | |
| Proceeds from short-term borrowings | 0 | 1 | |
| Repayments of short-term borrowings | (4) | (4) | |
| Repayments of leases/incentives | (74) | (81) | |
| Net cash (used in)/from financing activities | 2.5.3 | (408) | (142) |
| Total change in cash from continuing operations | (290) | (23) | |
| Cash and cash equivalents at the beginning of the year | 848 | 556 | |
| Cash transfers relating to discontinued operations | (1) | (16) | |
| Total change in cash from continuing operations | (290) | (23) | |
| Cash and cash equivalents at the end of the year | 556 | 518 |