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Price: 20.65 EUR -1.2% Market Closed

Market Cap: €1.7B

Cash Flow Statement

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Currency: EUR

		Dec-2004	Jun-2005	Dec-2005	Jun-2006	Dec-2006	Jun-2007	Dec-2007	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025
Operating Cash Flow
Cash Taxes Paid		(32)	(13)	8	(7)	9	1	(12)	(29)	(48)	(52)	(55)	(35)	(46)	(42)	(42)	(44)	(27)	(37)	(43)	(50)	(51)	(33)	(34)	(38)	(31)	(57)	(47)	(36)	(37)	(27)	(26)	(29)	(19)	12	10	16	16	13	(0)	(5)	(9)	(43)	(34)	(41)	(62)	(55)	(50)	(41)	(49)	(35)	(40)	(42)	(49)	(44)	(50)	(40)	17	12	21	17	(5)	(23)	(23)	(26)	(43)	(48)	(47)	(133)	(140)	(155)	(156)	(73)	(82)	(69)	(69)	(92)	(98)
Change in Working Capital		(78)	(62)	(317)	(357)	(202)	(212)	(249)	(203)	(241)	(211)	(231)	(196)	(164)	(77)	(104)	(97)	(108)	(104)	(87)	(92)	(93)	(112)	(103)	(121)	(136)	(130)	(153)	(175)	(151)	(227)	(225)	(181)	(184)	(50)	(75)	(49)	(118)	(184)	(156)	(214)	(169)	(172)	(186)	(185)	(177)	(182)	(165)	(172)	(104)	(190)	(215)	(250)	(312)	(276)	(232)	(188)	(257)	(181)	(190)	(184)	(211)	(145)	(179)	(223)	(151)	(237)	(212)	(156)	(186)	(212)	(234)	(270)	(410)	(288)	(256)	(293)	(163)
Cash from Operating Activities		169 N/A	345 +104%	326 -5%	299 -8%	407 +36%	358 -12%	350 -2%	286 -18%	316 +11%	198 -37%	223 +12%	226 +1%	336 +49%	294 -13%	304 +4%	303 -1%	252 -17%	287 +14%	322 +12%	303 -6%	278 -8%	323 +16%	287 -11%	294 +2%	369 +25%	375 +2%	372 -1%	412 +11%	412 +0%	297 -28%	338 +14%	321 -5%	304 -5%	156 -48%	131 -16%	140 +6%	79 -44%	372 +372%	376 +1%	355 -6%	393 +11%	360 -9%	380 +6%	393 +3%	434 +10%	429 -1%	528 +23%	449 -15%	424 -6%	444 +5%	332 -25%	464 +40%	480 +3%	484 +1%	500 +3%	517 +3%	543 +5%	499 -8%	533 +7%	497 -7%	676 +36%	488 -28%	491 +1%	521 +6%	406 -22%	731 +80%	798 +9%	730 -8%	628 -14%	527 -16%	464 -12%	568 +22%	523 -8%	552 +6%	596 +8%	497 -17%	511 +3%
Investing Cash Flow
Capital Expenditures		(231)	(269)	(329)	(264)	(55)	(28)	(77)	(152)	(215)	(257)	(350)	(348)	(428)	(388)	(328)	(261)	(125)	(72)	(46)	(49)	(49)	(31)	(33)	(12)	(46)	(87)	(94)	(103)	(77)	(60)	(53)	(40)	(30)	(59)	(67)	(80)	(127)	(145)	(161)	(169)	(139)	(105)	(107)	(102)	(124)	(141)	(145)	(176)	(212)	(232)	(232)	(221)	(222)	(223)	(219)	(216)	(160)	(117)	(107)	(88)	(130)	(126)	(128)	(146)	(126)	(179)	(192)	(230)	(270)	(263)	(278)	(149)	(61)	(302)	(340)	(302)	(303)
Other Items		(136)	(327)	430	383	(10)	54	(23)	(44)	(36)	23	51	46	41	54	39	24	15	12	(6)	8	(19)	(94)	(64)	(728)	(682)	(614)	(637)	9	(3)	(3)	(19)	(14)	(77)	15	2	(102)	(39)	(114)	(87)	(8)	(5)	(33)	(45)	(30)	(34)	(20)	(12)	69	68	71	71	(7)	(10)	(17)	(6)	4	4	7	(4)	(12)	(24)	(15)	(16)	(17)	(5)	(21)	(105)	(266)	(272)	(253)	(170)	(279)	(353)	(164)	(190)	(74)	(215)
Cash from Investing Activities		(366) N/A	(596) -63%	101 N/A	119 +18%	(65) N/A	27 N/A	(100) N/A	(196) -95%	(250) -28%	(234) +6%	(298) -27%	(303) -1%	(387) -28%	(334) +14%	(289) +13%	(237) +18%	(110) +54%	(60) +46%	(52) +13%	(41) +20%	(68) -64%	(125) -84%	(96) +23%	(739) -667%	(727) +2%	(702) +4%	(730) -4%	(93) +87%	(80) +14%	(63) +21%	(72) -14%	(54) +25%	(107) -100%	(43) +60%	(65) -49%	(182) -182%	(166) +9%	(259) -57%	(248) +4%	(177) +29%	(144) +19%	(138) +5%	(153) -11%	(132) +13%	(158) -20%	(161) -2%	(158) +2%	(107) +32%	(144) -35%	(160) -12%	(160) 0%	(228) -42%	(232) -2%	(240) -4%	(225) +6%	(211) +6%	(155) +26%	(110) +29%	(111) -1%	(100) +10%	(154) -54%	(141) +9%	(144) -2%	(164) -14%	(131) +20%	(201) -53%	(297) -48%	(496) -67%	(543) -10%	(517) +5%	(447) +13%	(427) +4%	(414) +3%	(466) -13%	(530) -14%	(377) +29%	(517) -37%
Financing Cash Flow
Net Issuance of Common Stock		25	26	0	(0)	0	0	(37)	(50)	(54)	(24)	(27)	(13)	(10)	(2)	0	0	2	2	0	(9)	(12)	0	0	10	12	0	0	0	0	0	0	0	0	0	0	0	0	0	(4)	(9)	(10)	(10)	(6)	(1)	0	0	0	0	0	(1)	(1)	(1)	(3)	(2)	(9)	(9)	(7)	(7)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Issuance of Debt		299	338	(230)	(196)	(96)	(46)	47	103	47	(51)	(35)	14	62	36	38	(8)	(8)	90	(5)	21	68	4	425	597	481	489	174	140	190	185	145	(237)	(92)	31	(83)	20	(68)	(191)	(88)	96	13	(59)	(27)	(45)	(21)	(18)	(60)	(119)	(139)	(173)	(45)	(77)	(101)	(47)	294	273	197	(51)	(500)	(705)	(835)	(279)	(399)	(58)	174	(43)	21	(80)	(33)	(162)	(92)	5	(47)	260	145	62	148
Cash Paid for Dividends		(36)	(44)	(34)	(82)	(79)	(53)	(58)	(52)	(52)	(38)	(38)	(49)	(52)	(51)	(53)	(48)	(47)	(103)	(103)	(61)	(60)	(4)	(2)	(67)	(69)	(70)	(70)	(56)	(54)	(69)	(70)	(93)	(94)	(109)	(109)	(135)	(134)	(212)	(212)	(196)	(196)	(94)	(94)	(101)	(126)	(120)	(123)	(135)	(112)	(115)	(112)	(110)	(108)	(106)	(136)	(43)	(43)	(70)	(39)	(101)	(172)	(86)	(86)	(86)	(15)	(216)	(216)	(281)	(281)	(136)	(136)	(95)	(95)	(95)	(125)	(80)	(103)
Other		(57)	(74)	(84)	(79)	(73)	(72)	(68)	(68)	(83)	(84)	(97)	(80)	(75)	(58)	(54)	(46)	(40)	(41)	(38)	(41)	(44)	(48)	(60)	(66)	(73)	(93)	(88)	(104)	(115)	(108)	(117)	(110)	(115)	(20)	(14)	(15)	(40)	(123)	(120)	(119)	(80)	(81)	(83)	(70)	(66)	(61)	(59)	(54)	(52)	(53)	(54)	(52)	(56)	(13)	(14)	(10)	(7)	(51)	(49)	(47)	(69)	(43)	(40)	(49)	(32)	(72)	(78)	(77)	(66)	(26)	(20)	(24)	(14)	(21)	(19)	(11)	(18)
Cash from Financing Activities		231 N/A	246 +6%	(348) N/A	(357) -3%	(248) +31%	(170) +31%	(115) +32%	(67) +42%	(142) -112%	(198) -40%	(197) +0%	(129) +35%	(74) +43%	(76) -2%	(69) +9%	(102) -48%	(93) +9%	(53) +43%	(146) -177%	(90) +38%	(47) +48%	(48) -2%	363 N/A	473 +30%	351 -26%	327 -7%	16 -95%	(19) N/A	21 N/A	8 -64%	(41) N/A	(440) -971%	(301) +32%	(98) +67%	(206) -111%	(131) +37%	(242) -86%	(525) -117%	(424) +19%	(228) +46%	(274) -20%	(244) +11%	(210) +14%	(217) -3%	(213) +2%	(199) +6%	(242) -21%	(307) -27%	(303) +1%	(342) -13%	(212) +38%	(240) -13%	(266) -11%	(167) +37%	136 N/A	211 +55%	140 -33%	(179) N/A	(587) -228%	(853) -45%	(1 076) -26%	(408) +62%	(525) -29%	(193) +63%	127 N/A	(332) N/A	(273) +18%	(439) -61%	(380) +13%	(324) +15%	(248) +23%	(115) +54%	(157) -36%	143 N/A	1 -99%	(29) N/A	27 N/A
Change in Cash
Effect of Foreign Exchange Rates		(0)	(0)	0	(1)	(1)	(1)	(2)	(2)	(1)	0	1	1	(1)	(0)	1	3	2	2	(1)	(3)	0	1	1	3	1	(1)	1	(2)	(3)	(3)	(4)	(3)	5	1	11	8	9	16	1	5	(2)	0	3	(1)	(5)	(10)	(12)	(5)	(3)	(1)	2	(1)	0	(1)	(7)	(4)	(13)	(23)	(21)	(19)	(8)	(0)	12	4	(3)	12	3	5	14	1	0	1	(4)	(9)	(5)	(9)	(7)
Net Change in Cash		34 N/A	(6) N/A	79 N/A	60 -24%	93 +55%	213 +130%	133 -38%	20 -85%	(78) N/A	(234) -201%	(272) -17%	(205) +25%	(126) +39%	(116) +8%	(53) +55%	(33) +38%	50 N/A	176 +249%	124 -30%	168 +36%	163 -3%	151 -8%	554 +268%	30 -95%	(7) N/A	(2) +70%	(342) -16 827%	298 N/A	350 +18%	238 -32%	221 -7%	(176) N/A	(100) +43%	17 N/A	(129) N/A	(165) -28%	(320) -94%	(397) -24%	(295) +26%	(45) +85%	(27) +42%	(22) +17%	21 N/A	42 +104%	58 +36%	59 +3%	117 +99%	30 -75%	(26) N/A	(60) -129%	(38) +36%	(6) +85%	(18) -218%	76 N/A	403 +431%	512 +27%	515 +1%	186 -64%	(187) N/A	(475) -155%	(562) -18%	(62) +89%	(166) -166%	168 N/A	399 +137%	211 -47%	231 +9%	(199) N/A	(281) -41%	(312) -11%	(231) +26%	26 N/A	(52) N/A	220 N/A	62 -72%	83 +33%	13 -84%
Free Cash Flow
Free Cash Flow		(62) N/A	75 N/A	(3) N/A	35 N/A	352 +906%	330 -6%	273 -17%	133 -51%	101 -24%	(59) N/A	(127) -116%	(122) +4%	(92) +25%	(94) -2%	(23) +75%	42 N/A	127 +203%	215 +69%	277 +29%	254 -8%	228 -10%	292 +28%	254 -13%	282 +11%	323 +14%	287 -11%	278 -3%	309 +11%	335 +8%	237 -29%	285 +20%	281 -1%	273 -3%	98 -64%	65 -34%	59 -8%	(48) N/A	227 N/A	216 -5%	186 -14%	254 +37%	255 +0%	273 +7%	291 +7%	310 +7%	289 -7%	383 +33%	273 -29%	212 -22%	212 +0%	100 -53%	243 +142%	258 +6%	261 +1%	281 +7%	301 +7%	383 +27%	382 0%	426 +12%	409 -4%	546 +33%	362 -34%	363 +0%	375 +3%	280 -25%	552 +97%	606 +10%	500 -17%	357 -29%	264 -26%	186 -29%	419 +125%	462 +10%	250 -46%	256 +3%	194 -24%	208 +7%

Income Statement Balance Sheet Cash Flow Statement

Income Statement Balance Sheet Cash Flow Statement

See Also

Relative Valuation

Wall Street Estimates

Profitability Analysis

Solvency Analysis

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