Financial Position of the Bayer Group

Statements of Cash Flows

Bayer Group Summary Statements of Cash Flows

 

 

Q1 2015

 

Q1 2016

 

Change

 

 

€ million

 

€ million

 

%

2015 figures restated

1

Gross cash flow = income after income taxes, plus income taxes, plus financial result, minus income taxes paid or accrued, plus depreciation, amortization and impairment losses, minus impairment loss reversals, plus / minus changes in pension provisions, minus gains / plus losses on retirements of noncurrent assets, minus gains from the remeasurement of already held assets in step acquisitions. The change in pension provisions includes the elimination of noncash components of EBIT. It also contains benefit payments during the year. Gross cash flow is not defined in the International Financial Reporting Standards.

Gross cash flow1

 

2,011

 

2,576

 

+28.1

Changes in working capital / other noncash items

 

(1,334)

 

(2,073)

 

−55.4

Net cash provided by (used in) operating activities (net cash flow), continuing operations

 

677

 

503

 

−25.7

Net cash provided by (used in) operating activities (net cash flow), discontinued operations

 

47

 

819

 

.

Net cash provided by (used in) operating activities (net cash flow) (total)

 

724

 

1,322

 

+82.6

Net cash provided by (used in) investing activities (total)

 

(595)

 

(462)

 

+22.4

Net cash provided by (used in) financing activities (total)

 

(410)

 

823

 

.

Change in cash and cash equivalents due to business activities

 

(281)

 

1,683

 

.

Cash and cash equivalents at beginning of period

 

1,853

 

1,859

 

+0.3

Change due to exchange rate movements and to changes in scope of consolidation

 

35

 

10

 

−71.4

Cash and cash equivalents at end of period

 

1,607

 

3,552

 

+121.0

Net cash provided by operating activities (net cash flow)

  • Gross cash flow from continuing operations in the first quarter of 2016 climbed by a substantial 28.1% to €2,576 million, primarily due to the expansion of business.
  • The net cash flow (total) was diminished by an increase in cash tied up in working capital but rose by 82.6% to €1,322 million, mainly because of the inflow from the divestiture of the Diabetes Care business.
  • The net cash flow (total) reflected income tax payments of €549 million (Q1 2015: €444 million).

Net cash provided by (used in) investing activities

  • Cash outflows for property, plant and equipment and intangible assets were 5.2% higher in the first quarter of 2016 at €363 million (Q1 2015: €345 million) and included €141 million (Q1 2015: €95 million) at Pharmaceuticals, €39 million (Q1 2015: €11 million) at Consumer Health, €97 million (Q1 2015: €96 million) at Crop Science, €5 million (Q1 2015: €4 million) at Animal Health and €46 million (Q1 2015: €89 million) at Covestro.

Net cash provided by (used in) financing activities

  • In the first quarter of 2016, there was a net cash inflow of €823 million from financing activities, including net borrowings of €909 million (Q1 2015: net loan repayments of €323 million).
  • Net interest payments were 4.9% higher at €86 million (Q1 2015: €82 million).