The spin-off of Vitesco Technologies on September 15, 2021, resulted in the application of IFRS 5, Non-current Assets Held for Sale and Discontinued Operations, in the comparative period. Vitesco Technologies is reported as discontinued operations in the comparative period.
The items in the consolidated statement of cash flows for the reporting period show continuing operations. The figures for the comparative period show continuing and discontinued operations. In addition, cash flow arising from operating activities, investing activities and financing activities is shown separately for continuing operations and discontinued operations in the comparative period.
| € millions | See Note | 2022 | 2021 |
| Net income1 | 112.2 | 1,487.1 | |
| Income tax expense | 12 | 444.6 | 521.9 |
| Financial result1 | 11 | 198.0 | 150.8 |
| EBIT | 754.8 | 2,159.8 | |
| Interest paid | -151.9 | -165.4 | |
| Interest received | 61.5 | 46.8 | |
| Income tax paid | 12, 31 | -597.2 | -751.2 |
| Dividends received | 31.4 | 31.0 | |
| Depreciation, amortization, impairment and reversal of impairment losses | 8, 14, 15, 16 | 3,211.2 | 2,415.0 |
| Income from equity-accounted investees and other investments, incl. impairment and reversal of impairment losses | 10, 18 | -29.1 | -10.6 |
| Gains/losses from the disposal of assets, companies and business operations | -16.2 | -295.6 | |
| Changes in | |||
| inventories | 23 | -1,644.9 | -1,417.7 |
| trade accounts receivable | 24 | -821.9 | 31.2 |
| trade accounts payable | 35 | 1,732.9 | 941.4 |
| employee benefits and other provisions | 29, 30 | -165.7 | 146.8 |
| other assets and liabilities | -69.4 | -177.1 | |
| Cash flow arising from operating activities | 2,295.5 | 2,954.4 | |
| Cash flow arising from operating activities – continuing operations | 2,295.5 | 2,490.5 | |
| Cash flow arising from operating activities – discontinued operations | n. a. | 463.9 | |
| Cash flow from the disposal of assets | 14, 15 | 73.4 | 77.7 |
| Capital expenditure on property, plant and equipment, and software | 14, 15 | -2,132.8 | -1,825.8 |
| Capital expenditure on intangible assets from development projects and miscellaneous | 14 | -36.4 | -52.0 |
| Cash flow from the disposal of companies and business operations | 5 | -0.6 | 342.8 |
| Acquisition of companies and business operations | 5 | -108.5 | -124.7 |
| Cash flow arising from investing activities | -2,204.9 | -1,582.0 | |
| Cash flow arising from investing activities – continuing operations | -2,204.9 | -1,420.2 | |
| Cash flow arising from investing activities – discontinued operations | n. a. | -161.8 | |
| Cash flow before financing activities (free cash flow) | 90.6 | 1,372.4 | |
| Issuance of bonds2 | 32 | 625.0 | — |
| Redemption of bonds2 | 32 | — | -200.0 |
| Repayment of lease liabilities2 | 32 | -323.6 | -339.3 |
| Change in other indebtedness2 | 32 | 822.2 | -613.9 |
| Change in derivative instruments and interest-bearing investments2 | 32 | 22.9 | 70.7 |
| Other cash changes | -36.1 | -44.9 | |
| Dividends paid | -440.0 | — | |
| Dividends paid to and cash changes from equity transactions with non-controlling interests | -16.9 | -29.3 | |
| Cash flow arising from financing activities | 653.5 | -1,156.7 | |
| Cash flow arising from financing activities – continuing operations | 653.5 | -1,134.0 | |
| Cash flow arising from financing activities – discontinued operations | n. a. | -22.7 | |
| Change in cash and cash equivalents | 744.1 | 215.7 | |
| Cash and cash equivalents at the beginning of the reporting period | 2,269.1 | 2,938.7 | |
| Effect of exchange-rate changes on cash and cash equivalents | -25.2 | 96.1 | |
| Cash and cash equivalents at the end of the reporting period | 2,988.0 | 3,250.5 | |
| Less cash and cash equivalents from discontinued operations at the time of disposal | n. a. | -981.4 | |
| Cash and cash equivalents from continuing operations at the end of the reporting period | 25 | 2,988.0 | 2,269.1 |
1 In the year under review, the Continental Group changed the methodology used for the recognition of uncertain tax positions. The comparative period has been adjusted accordingly. For more information, see Note 2 (General Information and Accounting Principles) of the notes to the consolidated financial statements.
2 The presentation of the change in indebtedness was revised in fiscal 2022. The previous year’s figures have been adjusted accordingly.
