Financial Position
Cash Flow
The Group’s cash flows are as follows:
Key Data from the Statement of Cash Flows
Key Data from the Statement of Cash Flows | |||||
in € million | 3M 2023 | 3M 2024 | |||
Cash flow from operating activities | 516.4 | 620.0 | |||
Cash flow from investing activities | -61.1 | 69.1 | |||
Cash flow from financing activities | -460.3 | -611.2 | |||
Influence of changes in foreign exchange rates | -0.9 | -5.1 | |||
Net changes in cash and cash equivalents | -5.9 | 72.8 | |||
Cash and cash equivalents at the beginning of the period | 1,302.4 | 1,374.4 | |||
Cash and cash equivalents at the end of the period | 1,296.5 | 1,447.2 | |||
Less cash and cash equivalents of discontinued operations | – | -2.6 | |||
Cash and cash equivalents at the end of the period | 1,296.5 | 1,449.8 | |||
The cash flow from operating activities came to € 620.0 million in the first three months of 2024, compared with € 516.4 million in the first three months of 2023.
The cash flow from investing activities shows net proceeds of € 69.1 million for the first three months of 2024. Payments for the acquisition of investment properties came to € 202.3 million in the first three months of 2024 (3M 2023: € 247.3 million). On the other hand, income from portfolio sales amounted to € 285.2 million (3M 2023: € 134.5 million).
The cash flow from financing activities of € -611.2 million (3M 2023: € -460.3 million) includes payments for regular and unscheduled repayments on financial liabilities in the amount of € 1,152.4 million (3M 2023: € 516.3 million) and, on the other hand, proceeds from the assumption of financial liabilities in the amount of € 784.2 million (3M 2023: € 256.2 million). Payouts for transaction and financing costs amounted to € 13.9 million (3M 2023: € 3.1 million). Interest paid in the first three months of 2024 totaled € 201.3 million (3M 2023: € 185.2 million).
Net changes in cash and cash equivalents came to € 72.8 million.