Financial Position
Cash Flow
The Group cash flow is as follows:
Key Data from the Statement of Cash Flows
Key Data from the Statement of Cash Flows | |||||
in € million | H1 2022 | H1 2023 | |||
Cash flow from operating activities | 1,039.6 | 911.4 | |||
Cash flow from investing activities | 1,399.9 | -346.2 | |||
Cash flow from financing activities | -2,298.6 | -186.3 | |||
Influence of changes in foreign exchange rates | -4.5 | -4.7 | |||
Net changes in cash and cash equivalents | 136.4 | 374.2 | |||
Cash and cash equivalents at the beginning of the period | 1,432.8 | 1,302.4 | |||
Cash and cash equivalents at the end of the period | 1,569.2 | 1,676.6 | |||
The cash flow from operating activities came to € 911.4 million for the first six months of 2023, compared with € 1,039.6 million for the first six months of 2022.
The cash flow from investing activities shows a payout balance of € 346.2 million for the first six months of 2023. Payments for the acquisition of investment properties came to € 445.1 million in the first six months of 2023 (6M 2022: € 1,138.5 million). On the other hand, income from portfolio sales in the amount of € 201.4 million was collected (6M 2022: € 2,699.4 million). The prior-year figure was influenced to a considerable degree by the sale of residential and commercial units to public housing companies in Berlin.
The cash flow from financing activities of € -186.3 million (6M 2022: € -2,298.6 million) includes payments for regular and unscheduled repayments in the amount of € 1,547.6 million (6M 2022: € 6,361.5 million) and, on the other hand, proceeds from issuing financial liabilities in the amount of € 1,071.3 million (6M 2022: € 5,172.9 million). Furthermore, this figure includes € 1,083.2 million (6M 2022: € - million) proceeds from the sale of shares in consolidated companies, of which around € 1.0 billion resulted from the sale of shares in relation to the Südewo transaction. Payouts for transaction and financing costs amounted to € 5.6 million (6M 2022: € 44.8 million). Interest paid in the first six months of 2023 amounted to € 378.4 million (6M 2022: € 298.8 million).
Net changes in cash and cash equivalents came to € 374.2 million.