Consolidated cash flow statement
for the 2025 financial year
| T089 | Consolidated cash flow statement | |||
|---|---|---|---|---|
| in €m | Notes | 2025 | 2024 | |
| Cash and cash equivalents as of 1 Jan | 1,790 | 1,668 | ||
| Profit/loss before income taxes1) | 1,927 | 1,569 | ||
| Depreciation, amortisation and impairment losses on non-current assets (net of reversals) | 6, 9 | 2,406 | 2,383 | |
| Depreciation, amortisation and impairment losses on current assets (net of reversals) | 114 | 111 | ||
| Net proceeds from disposal of non-current assets1) | 6, 10 | -96 | -182 | |
| Result from equity investments | 11 | -261 | -189 | |
| Net interest | 12 | 216 | 149 | |
| Income tax payments/reimbursements | 14 | 61 | -181 | |
| Significant non-cash expenses/income | 44 | -434 | -244 | |
| Change in trade working capital | 238 | 525 | ||
| Change in other assets and liabilities | -134 | -49 | ||
| Net cash from/used in operating activities | 4,037 | 3,892 | ||
| Capital expenditure for property, plant and equipment and intangible assets | 17, 18, 19, 21 | -4,232 | -3,657 | |
| Capital expenditure for financial investments | 23, 24 | -46 | -86 | |
| Additions to/disposals of repairable spare parts for aircraft | 20 | -243 | -241 | |
| Proceeds from disposal of non-consolidated equity investments | 1 | 6 | ||
| Cash inflows from disposal of consolidated equity investments | 49 | 36 | 376 | |
| Cash outflows for acquisitions/capital increases of/at non-consolidated equity investments | 23, 24, 44 | -358 | -76 | |
| Proceeds from disposal of intangible assets, property, plant and equipment and other financial investments | 1,572 | 878 | ||
| Interest income | 12 | 367 | 294 | |
| Dividends received | 122 | 114 | ||
| Net cash from/used in investing activities | -2,781 | -2,392 | ||
| Purchase of securities/fund investments | -11,969 | -15,470 | ||
| Disposal of securities/fund investments | 11,731 | 15,537 | ||
| Net cash from/used for investing and cash management activities | -3,019 | -2,325 | ||
| Borrowing of financial liabilities | 44 | 2,266 | 2,225 | |
| Repayment of financial liabilities | 44 | -2,748 | -2,745 | |
| Dividends paid | -368 | -372 | ||
| Interest paid and similar payments | 12 | -788 | -558 | |
| Net cash from/used in financing activities | -1,638 | -1,450 | ||
| Net increase/decrease in cash and cash equivalents | -620 | 117 | ||
| Changes due to currency translation differences | -10 | 5 | ||
| Cash and cash equivalents as of 31 Dec | 31 | 1,160 | 1,790 | |
| Interest-bearing securities and similar investments | 30 | 6,988 | 6,698 | |
| Liquid funds | 8,148 | 8,488 | ||
| Net increase/decrease in liquid funds | -340 | 223 | ||
1) Including result from discontinued operations.