Statement of cash flows

Financing and cash flows

  • Financing principles remain unchanged
  • “A” ratings confirmed
  • Cash provided by operating activities above 2012 level
  • Payments for investments and acquisitions increase
Cash flow1 (billion €)
Cash flow (bar chart)Enlarge image

1 The figures for the 2009 to 2011 business years were not restated according to the new accounting and reporting standards IFRS 10 and 11 (see Data).
2 Cash provided by operating activities less payments related to property, plant and equipment and intangible assets

At €7,870 million, we increased cash provided by operating activities by €1,268 million in 2013 compared with the previous year. This was largely due to a reduction in the amount of capital tied down in net working capital.

Cash used in investing activities amounted to minus €5,769 million compared with minus €3,977 million in 2012. At €4,660 million, payments for property, plant and equipment and intangible assets were higher than both the level of depreciation and the prior year. Acquisitions led to a cash outflow of €1,156 million in 2013 (2012: €1,043 million). We received €63 million in cash inflow from divestitures in 2013. This amount totaled €724 million in 2012, predominantly from thedisposal of our fertilizer activities. Cash outflow from financial investments and other items in 2013 was mainly attributable to the increase in financing-related receivables.

Cash used in financing activities amounted to minus €1,874 million. In comparison with 2012, cash outflow was lower by €1,030 million, which was largely due to lower repayment of bonds and promissory notes; by contrast, the volume of newly issued bonds rose. We paid €2,388 million in dividends to shareholders of BASF SE and €314 million to minority shareholders in Group companies.

In total, cash and cash equivalents rose by €168 million compared with the previous year, amounting to €1,815 million as of December 31, 2013.

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Statement of cash flows (million €)

 

2013

2012

Net income

4,842

4,819

Depreciation and amortization of intangible assets, property, plant and equipment and financial assets

3,196

3,288

Changes in working capital

805

(844)

Miscellaneous items

(973)

(661)

Cash provided by operating activities

7,870

6,602

 

 

 

Payments related to property, plant and equipment and intangible assets

(4,660)

(4,015)

Acquisitions/divestitures

(1,093)

(319)

Financial investments and other items

(16)

357

Cash used in investing activities

(5,769)

(3,977)

 

 

 

Capital increases/repayments, share repurchases

(1)

Changes in financial liabilities

828

(343)

Dividends

(2,702)

(2,560)

Cash used in financing activities

(1,874)

(2,904)

 

 

 

Net changes in cash and cash equivalents

227

(279)

Cash and cash equivalents as of beginning of year and other changes

1,588

1,926

Cash and cash equivalents as of end of year

1,815

1,647