Consolidated statement of cash flows

PostNL Consolidated statement of cash flows in million
2022, 2023

Year ended at 31 DecemberNotes20222023
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 4678
Adjustments for:
Depreciation, amortisation and impairments 156177
Share-based payments 22
(Profit)/loss on disposal of assets (5)(9)
Interest and similar income (3)(20)
Interest and similar expenses 2222
Results from investments in JVs/associates 14
Investment income 15(3)
Pension liabilities 470
Other provisions (3)14
Changes in provisions 4414
Inventory (2)(2)
Trade accounts receivable 3050
Other accounts receivable (2)0
Other current assets (11)(15)
Trade accounts payable 1827
Other current liabilities excluding short-term financing and taxes (36)(51)
Changes in working capital (3)7
Cash generated from operations 259277
Interest paid (20)(20)
Income taxes received/(paid) 1(35)
Net cash (used in)/from operating activities2.5.1240222
Interest received 323
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 121
Changes in other loans receivable 32
Other changes in (financial) fixed assets 0(2)
Net cash (used in)/from investing activities2.5.2(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 01
Repayments of short-term borrowings (4)(4)
Repayments of leases/incentives (74)(81)
Net cash (used in)/from financing activities2.5.3(408)(142)
Total change in cash from continuing operations (290)(23)
Cash and cash equivalents at the beginning of the year 848556
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 556518

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