Consolidated cash flow statement
in EUR '000 |
2018 |
2017 |
||||
|
||||||
Result of the period |
367,952 |
372,591 |
||||
Change in underwriting provisions net |
111,856 |
806,992 |
||||
Change in underwriting receivables and liabilities |
-12,873 |
-14,829 |
||||
Change in deposit receivables and liabilities as well as in reinsurance receivables and liabilities |
32,651 |
-31,105 |
||||
Change in other receivables and liabilities |
78,313 |
-6,185 |
||||
Change in financial instruments recognised at fair value through profit and loss (incl. held for trading) |
7,008 |
144,389 |
||||
Gain/loss from disposal of investments |
-111,379 |
-98,818 |
||||
Depreciation/appreciation of all other investments |
177,991 |
207,821 |
||||
Change in pension, severance and other personnel provisions |
56,736 |
-36,438 |
||||
Change in deferred tax asset/liability excl. tax liabilities |
-33,573 |
-15,872 |
||||
Change in other balance sheet items |
-29,076 |
-36,988 |
||||
Change in goodwill and other intangible assets |
106,661 |
165,715 |
||||
Other cash-neutral income and expenses and adjustments to the result of the period1 |
215,573 |
-187,394 |
||||
Cash flow from operating activities |
967,840 |
1,269,879 |
||||
Cash inflow from the sale of associated companies |
110,392 |
0 |
||||
Payments for the acquisition of subsidiaries |
-11,061 |
-37,610 |
||||
Cash inflow from the sale of available for sale securities |
2,248,144 |
2,975,505 |
||||
Payments for the acquisition of available for sale securities |
-3,388,440 |
-4,181,627 |
||||
Cash inflow from disposals/repayments of held to maturity securities |
280,454 |
224,339 |
||||
Payments for the addition of held to maturity securities |
-102,939 |
-154,812 |
||||
Cash inflow from the sale of land and buildings |
93,521 |
68,693 |
||||
Payments for the acquisition of land and buildings |
-432,587 |
-278,323 |
||||
Cash inflow for the sale of intangible assets |
4,241 |
4,313 |
||||
Payments for the acquisition of intangible assets |
-81,690 |
-61,746 |
||||
Change in investments for unit-linked and index-linked life insurance |
489,786 |
-713 |
||||
Change in loans and other investments |
-60,315 |
113,124 |
||||
Cash flow from investing activities |
-850,494 |
-1,328,857 |
||||
Corporate actions, incl. hybrid capital |
-198,017 |
0 |
||||
Cash inflow from subordinated liabilities |
0 |
450,000 |
||||
Cash outflow from subordinated liabilities |
0 |
-257,355 |
||||
Dividend payments |
-139,722 |
-130,090 |
||||
Cash inflow from other financing activities |
292,815 |
172,358 |
||||
Cash outflow from other financing activities |
-219,372 |
-272,786 |
||||
Cash flow from financing activities |
-264,296 |
-37,873 |
||||
Change in cash and cash equivalents |
-146,950 |
-96,851 |
||||
|
|
|
||||
Cash and cash equivalents at beginning of period2 |
1,497,731 |
1,589,941 |
||||
Change in cash and cash equivalents |
-146,950 |
-96,851 |
||||
Additions/disposals from change in consolidation method |
2,574 |
0 |
||||
Effects of foreign currency exchange differences on cash and cash equivalents |
-6,076 |
4,641 |
||||
Cash and cash equivalents at end of period2 |
1,347,279 |
1,497,731 |
||||
thereof non-profit societies |
122,341 |
118,731 |
||||
Additional information on the statement of cash flows |
2018 |
2017 |
||||
|
||||||
Received interest1 |
767,633 |
751,197 |
||||
Received dividends1 |
106,740 |
145,965 |
||||
Interest paid2 |
97,409 |
94,610 |
||||
Income taxes paid1 |
79,085 |
49,590 |
||||
|
|
|
||||
Expected cash flow from reclassified securities |
10,539 |
16,323 |
||||
Effective interest rate of reclassified securities |
4.22% |
4.24% |
||||
Reconciliation of liabilities from financing activities |
31.12.2018 |
|||||
Subordinated liabilities (including interests) |
Liabilities to financial institutions |
Liabilities from public funding |
Financing liabilities* |
|||
|
||||||
Book value as of 31.12. of the previous year |
1,490,999 |
1,201,031 |
100,018 |
1,480,417 |
||
Cash changes |
-64,266 |
15,038 |
4,753 |
24,206 |
||
Cash inflows |
0 |
187,983 |
8,060 |
96,772 |
||
Payments |
0 |
-158,090 |
-3,255 |
-58,027 |
||
Interest paid |
-64,266 |
-14,855 |
-52 |
-14,539 |
||
Non-cash changes |
64,106 |
14,532 |
372 |
15,619 |
||
Additions |
64,263 |
14,532 |
372 |
22,396 |
||
Disposals |
0 |
0 |
0 |
-9,844 |
||
Change in the scope of consolidation |
0 |
0 |
0 |
4,613 |
||
Reclassifications |
0 |
0 |
0 |
-1,176 |
||
Measurement changes |
0 |
0 |
0 |
-333 |
||
Exchange rate differences |
-157 |
0 |
0 |
-37 |
||
Book value as of 31.12. |
1,490,839 |
1,230,601 |
105,143 |
1,520,242 |
||
Reconciliation of liabilities from financing activities |
31.12.2017 |
|||||
Subordinated liabilities (including interests) |
Liabilities to financial institutions |
Liabilities from public funding |
Financing liabilities* |
|||
|
||||||
Book value as of 31.12. of the previous year |
1,265,009 |
1,304,900 |
91,049 |
1,528,828 |
||
Cash changes |
131,660 |
-113,179 |
4,274 |
-23,327 |
||
Cash inflows |
450,000 |
106,595 |
7,742 |
57,808 |
||
Payments |
-257,355 |
-205,190 |
-3,418 |
-64,020 |
||
Interest paid |
-60,985 |
-14,584 |
-50 |
-17,115 |
||
Non-cash changes |
94,330 |
9,310 |
4,695 |
-25,084 |
||
Additions |
59,852 |
12,352 |
5,210 |
17,579 |
||
Disposals |
0 |
-11 |
-522 |
-10,436 |
||
Change in the scope of consolidation |
0 |
0 |
0 |
-14 |
||
Reclassifications |
33,326 |
341 |
0 |
-33,326 |
||
Measurement changes |
0 |
-3,373 |
0 |
1,120 |
||
Exchange rate differences |
1,152 |
1 |
7 |
-7 |
||
Book value as of 31.12. |
1,490,999 |
1,201,031 |
100,018 |
1,480,417 |
||