Cash Flow
The Group cash flow is as follows:
in € million |
3M 2020 |
3M 2021 |
|---|---|---|
|
|
|
Cash flow from operating activities |
348.6 |
299.9 |
Cash flow from investing activities |
-345.2 |
-107.1 |
Cash flow from financing activities |
-75.3 |
1,347.4 |
Influence of changes in foreign exchange rates |
– |
-3.0 |
Net changes in cash and cash equivalents |
-71.9 |
1,537.2 |
Cash and cash equivalents at the beginning of the period |
500.7 |
613.3 |
Cash and cash equivalents at the end of the period |
428.8 |
2,150.5 |
|
|
|
The cash flow from operating activities came to € 299.9 million for the first three months of 2021, compared with € 348.6 million for the first three months of 2020. The drop is due primarily to the development in working capital.
The cash flow from investing activities shows a payout balance of € 107.1 million for the first three months of 2021. Payments for the acquisition of investment properties came to € 309.6 million in the first three months of 2021 (3M 2020: € 417.9 million). On the other hand, income from portfolio sales in the amount of € 213.6 million was collected (3M 2020: € 135.6 million).
The cash flow from financing activities includes payments for regular and unscheduled repayments in the amount of € 152.6 million (3M 2020: € 726.2 million) and, on the other hand, proceeds from issuing financial liabilities in the amount of € 1,641.9 million (3M 2020: € 784.7 million). Payouts for transaction and financing costs amounted to € 25.0 million (3M 2020: € 4.5 million). Interest paid in the first three months of 2021 amounted to € 106.1 million (3M 2020: € 115.6 million).
Net changes in cash and cash equivalents came to € 1,537.2 million.