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Consolidated statement of cash flows - EUR (€)
€ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flow from operating activities      
Profit/(loss) for the year € 4,259 € 1,645 € (2,516)
Adjustments, total (446) 1,713 5,267
Change in net working capital      
(Increase)/decrease in receivables (451) 239 (418)
(Increase)/decrease in inventories (991) (48) 553
Decrease in non-interest-bearing liabilities (401) (459) (845)
Cash flows from operations 1,970 3,090 2,041
Interest received 65 41 33
Interest paid (180) (192) (35)
Income taxes paid, net (381) (314) (280)
Net cash flows from operating activities 1,474 2,625 1,759
Cash flow from investing activities      
Purchase of property, plant and equipment and intangible assets (601) (560) (479)
Proceeds from sale of property, plant and equipment and intangible assets 33 103 13
Acquisition of businesses, net of cash acquired (20) (33) (104)
Purchase of interest-bearing financial investments (3,595) (1,845) (1,154)
Proceeds from maturities and sale of interest-bearing financial investments 2,397 398 123
Purchase of other non-current financial investments (115) (77) (59)
Proceeds from sale of other non-current financial investments 49 277 122
Foreign exchange hedging of cash and cash equivalents (38) (77) 79
Other 10 19 21
Net cash flows used in investing activities (1,880) (1,795) (1,438)
Cash flow from financing activities      
Acquisition of treasury shares (300)    
Proceeds from long-term borrowings 8 17 1,595
Repayment of long-term borrowings (2) (927) (246)
Proceeds from/(repayment of) short-term borrowings 27 (67) (83)
Payment of principal portion of lease liabilities (217) (226) (234)
Dividends paid and other contributions to shareholders (353) (9) (149)
Net cash flows (used in)/from financing activities (837) (1,212) 883
Translation differences 19 133 (174)
Net (decrease)/increase in cash and cash equivalents (1,224) (249) 1,030
Cash and cash equivalents at 1 January 6,691 6,940 5,910
Cash and cash equivalents at 31 December € 5,467 € 6,691 € 6,940