Cash Flow
The following table shows the Group cash flow:
in € million |
3M 2018 |
3M 2019 |
|---|---|---|
|
|
|
Cash flow from operating activities |
262.7 |
412.6 |
Cash flow from investing activities |
-2,500.3 |
644.6 |
Cash flow from financing activities |
2,800.7 |
268.3 |
Net changes in cash and cash equivalents |
563.1 |
1,325.5 |
Cash and cash equivalents at the beginning of the period |
266.2 |
547.7 |
Cash and cash equivalents at the end of the period |
829.3 |
1,873.2 |
|
|
|
The cash flow from operating activities rose from € 262.7 million in the first three months of 2018 to € 412.6 million in the first three months of 2019. The increase is mainly due to the improvement in the operating result. The low payouts in net current assets continued to have a positive effect on operating cash flow.
The cash flow from investing activities shows net proceeds of € 644.6 million for the first three months of 2019. This is mainly due to the sale of the shares in Deutsche Wohnen SE. Payments for acquisition of investment properties came to € 366.0 million. On the other hand, income from portfolio sales in the amount of € 325.8 million was collected.
The cash flow from financing activities includes payouts for scheduled and unscheduled repayments of € 1,205.8 million and, on the other hand, proceeds from issuing financial liabilities in the amount of € 1,951.0 million. Payouts for transaction and financing costs amounted to € 30.1 million. Interest paid in the first three months of 2019 amounted to € 95.0 million. In addition, the cash flow from financing activities includes payments for the acquisition of shares in non-controlling interests in the amount of € 339.4 million, mainly for the acquisition of the remaining shares in BUWOG.
The net increase in cash and cash equivalents came to € 1,325.5 million.