Cash flow statement

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€ thousand 1.1. to 31.12.
  2013 2012
Net profit 60,534 74,280
Non-cash items contained in net profit and transfer to cash flow from operating activities
– Depreciation, loan loss provisions, additions to assets, change in provisions and net changes due to hedge accounting and trading 27,759 28,459
– Result from the sale of assets – 9,485 – 4,318
– Other adjustments – 123,796 – 144,954
Sub-total – 44,988 – 46,533
Changes in assets and liabilities from operating activities after adjustment for non-cash items
– Claims
on banks – 1,117,360 1,223,747
on customers 55,452 58,084
– Positive/negative fair values from derivative hedging instruments and trading assets 206 0
– Securities 68,296 207,557
– Other assets from operating activities 3,285 1,943
– Liabilities
to banks 231 – 1,343
to customers 1,734,952 998,756
– Other liabilities and equity from operating activities – 13,211 – 23,519
Interest and dividends received 245,084 278,190
Interest paid – 76,649 – 109,723
Income tax payments – 35,807 – 19,972
Cash flow from operating activities 819,491 119,693
Cash inflows from the disposal of fixed assets and intangible assets –48 9
Cash outflows for the acquisition of fixed assets and intangible assets – 16,291 – 16,707
Cash flow from investment activities – 16,339 – 16,698
Dividend payment – 62,137 – 79,084
Cash flow from financing activities – 62,137 – 79,084
Cash and cash equivalents as of the end of the previous year 551,760 527,849
– Cash flow from operating activities 819,491 119,693
– Cash flow from investment activities – 16,339 – 16,698
– Cash flow from financing activities – 62,137 – 79,084
Cash and cash equivalents as of the end of the period 1,292,775 551,760

Cash and cash equivalents correspond to the balance sheet item “cash reserve” and include cash on hand and balances held at central banks.