Group Financial Statements

Consolidated Statement of Cash Flows
from 1 January until 31 December 2019

In € thousand

Notes

1–12/2019

1–12/2018

Profit/(loss) for the period

 

236,496

235,148

Impairment losses, amortisation of goodwill and other intangible assets, and depreciation of property, plant and equipment

 

59,673

42,397

Impairment losses/reversal of impairment losses on other investments

 

70,616

61,040

Gain/loss on the disposal of investments

 

–74,458

–40,202

Change in deferred acquisition costs

 

28,299

–18,939

Change in securities at fair value through profit or loss

 

110,137

143,880

Change in direct insurance receivables

 

–44,131

79,230

Change in other receivables

 

51,724

–43,006

Change in direct insurance liabilities

 

–2,603

–270,341

Change in other liabilities

 

–11,103

56,505

Change in technical provisions

 

10,731

–16,238

Change in defined benefit obligations

 

–27,965

–111,585

Change in deferred tax assets and deferred tax liabilities

 

13,921

25,795

Change in other statement of financial position items

 

98,525

–148,439

Net cash flow from operating activities

 

519,864

–4,755

 

 

 

 

Proceeds from disposal of intangible assets and property, plant and equipment

 

4,615

8,170

Payments for acquisition of intangible assets and property, plant and equipment

 

–165,074

–122,833

Proceeds from disposal of consolidated companies

 

0

56,887

Payments for acquisition of consolidated companies

 

–4,523

–7,971

Proceeds from disposal and maturity of other investments

 

3,810,353

5,826,647

Payments for acquisition of other investments

 

–4,243,088

–5,834,229

Change in unit-linked and index-linked life insurance investments

 

70,779

283,310

Net cash flow from investing activities

 

–526,938

209,981

 

 

 

 

Dividend payments

20

–164,809

–158,143

Transactions between owners

 

–54

–1,438

Proceeds from other financing activities

 

0

772,196

Payments from other financing activities

24

–794,017

–23,704

Net cash flow from financing activities

 

–958,880

588,911

 

 

 

 

Change in cash and cash equivalents

 

–965,954

794,137

of which due to acquisitions or disposals of consolidated subsidiaries

 

58

1,894

Change in cash and cash equivalents due to movements in exchange rates

 

1,185

–54

Cash and cash equivalents at beginning of year

13

1,444,391

650,307

Cash and cash equivalents at end of period

13

479,621

1,444,391

 

 

 

 

Income taxes paid (Net cash flow from operating activities)

 

45,053

–31,229

Interest paid (Net cash flow from operating activities)

 

–60,945

–58,876

Interest received (Net cash flow from operating activities)

 

401,064

404,984

Dividends received (Net cash flow from operating activities)

 

52,218

57,961