Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows
in € million | Jan. 1–Mar. 31, 2025 | Jan. 1–Mar. 31, 2026 | |||
Profit for the period | 515.4 | 250.3 | |||
Net income from fair value adjustments of investment properties | – | – | |||
Revaluation of assets held for sale | -24.9 | -31.4 | |||
Depreciation and amortization | 34.5 | 35.8 | |||
Interest expenses/income and other financial result | 248.6 | 276.9 | |||
Income taxes | -164.2 | 137.7 | |||
Profit on the disposal of investment properties | 39.7 | -15.9 | |||
Results from disposals of other non-current assets | -6.0 | -0.7 | |||
Other expenses/income not affecting cash | -1.9 | 4.3 | |||
Change in working capital | 172.4 | -113.6 | |||
Income tax paid | -9.3 | 9.7 | |||
Cash flow from operating activities | 804.3 | 553.1 | |||
Proceeds from disposals of investment properties and assets held for sale | 1,051.1 | 164.8 | |||
Proceeds from disposals of other assets | 214.6 | 17.9 | |||
Proceeds/payments from disposals of shares in consolidated companies including disposed cash and cash | -0.4 | – | |||
Payments for investments in investment properties | -863.8 | -286.0 | |||
Payments for investments in other assets | -61.7 | -59.3 | |||
Interest received | 14.0 | 52.9 | |||
Cash flow from investing activities | 353.8 | -109.7 | |||
Cash paid to non-controlling interests | -0.1 | -0.4 | |||
Proceeds from issuing financial liabilities | 195.5 | 501.2 | |||
Cash repayments of financial liabilities | -699.6 | -2,124.0 | |||
Cash repayments of lease liabilities | -13.9 | -13.9 | |||
Payments for transaction costs in connection with capital measures | -0.3 | -2.8 | |||
Payments from changes in ownership interests in subsidiaries that do not result in loss of control | – | -2.1 | |||
Interest paid | -245.9 | -255.4 | |||
Cash flow from financing activities | -764.3 | -1,897.4 | |||
Influence of changes in foreign exchange rates on cash and cash equivalents | 4.2 | -1.4 | |||
Cash and cash equivalents total | |||||
Net changes in cash and cash equivalents | 398.0 | -1,455.4 | |||
Cash and cash equivalents at the beginning of the period | 1,808.4 | 3,256.9 | |||
Cash and cash equivalents at the end of the period | 2,206.4 | 1,801.5 | |||
Cash and cash equivalents from discontinued operations | |||||
Net changes in cash and cash equivalents* | -16.3 | – | |||
Cash and cash equivalents at the beginning of the period | 43.5 | – | |||
Cash and cash equivalents at the end of the period | 27.2 | – | |||
Cash and cash equivalents from disposal groups | |||||
Net changes in cash and cash equivalents | -8.2 | – | |||
Cash and cash equivalents at the beginning of the period | 8.2 | – | |||
Cash and cash equivalents at the end of the period | – | – | |||
Cash and cash equivalents from continuing operations (without disposal group) | |||||
Net changes in cash and cash equivalents | 422.5 | -1,455.4 | |||
Cash and cash equivalents at the beginning of the period | 1,756.7 | 3,256.9 | |||
Cash and cash equivalents at the end of the period** | 2,179.2 | 1,801.5 | |||
- *Changes in cash in connection with discontinued operations are included in the cash flow from operating activities in the amount of € - million (Mar. 31, 2025: € 9.6 million), in the cash flow of investing activities in the amount of € - million (Mar. 31, 2025: € -16.0 million) and in the cash flow from financing activities in the amount of € - million (Mar. 31, 2025: € -9.9 million).
- **Includes total restricted cash of € 65.0 million (Mar. 31, 2025: € 77.1 million).