Interim Statement Q3 2020

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Cash Flow

The following table shows the Group cash flow:

Key Data From the Statement of Cash Flow

in € million

9M 2019

9M 2020

 

 

 

Cash flow from operating activities

1,131.6

1,016.7

Cash flow from investing activities

-393.7

-1,204.5

Cash flow from financing activities

-128.2

1,402.0

Influence of changes in foreign exchange rates

-1.3

Net changes in cash and cash equivalents

609.7

1,212.9

Cash and cash equivalents at the beginning of the period

547.7

500.7

Cash and cash equivalents at the end of the period

1,157.4

1,713.6

 

The cash flow from operating activities came to € 1,016.7 million for the first nine months of 2020 compared with € 1,131.6 million for the first nine months of 2019. The drop is due primarily to the development in working capital.

The cash flow from investing activities shows a payout balance of € 1,204.5 million for the first nine months of 2020. The prior-year period was characterized, in particular, by income from the sale of the shares in Deutsche Wohnen SE in the amount of € 698.1 million. Payments for the acquisition of investment properties came to € 1,183.2 million in the first nine months of 2020 (9M 2019: € 1,576.3 million). Payments for the acquisition of shares in consolidated companies include payments for the acquisition of Bien-Ries GmbH. Subsequent payments of € 112.1 million were also incurred in connection with the acquisition of Hembla. The cash flow from investing activities also includes a payment of € 160.2 million made for the acquisition of the stake in Vesteda. On the other hand, income from portfolio sales in the amount of € 435.7 million was collected (9M 2019: € 559.6 million).

The cash flow from financing activities includes payments for regular and unscheduled repayments in the amount of € 2,635.1 million (9M 2019: € 2,916.7 million) and, on the other hand, proceeds from issuing financial liabilities in the amount of € 3,890.3 million (9M 2019: 3,323.9). Payouts for transaction and financing costs amounted to € 48.7 million (9M 2019: € 77.4 million). Interest paid in the first nine months of 2020 amounted to € 272.2 million (9M 2019: 284.4).

Net changes in cash and cash equivalents came to € 1,212.9 million.