Asset and Financial Position of the Bayer Group

Statement of Cash Flows

Bayer Group Summary Statements of Cash Flows

 

 

Q3 2017

 

Q3 2018

 

9M 2017

 

9M 2018

 

 

€ million

 

€ million

 

€ million

 

€ million

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

 

1,903

 

2,051

 

4,355

 

4,949

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

 

808

 

 

1,510

 

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

 

2,711

 

2,051

 

5,865

 

4,949

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

 

173

 

6,402

 

(2,141)

 

(33,581)

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

 

(37)

 

(8,561)

 

25

 

26,604

Change in cash and cash equivalents due to business activities

 

2,847

 

(108)

 

3,749

 

(2,028)

Cash and cash equivalents at beginning of period

 

2,773

 

5,011

 

1,899

 

7,436

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

 

(65)

 

(53)

 

(93)

 

(558)

Cash and cash equivalents at end of period

 

5,555

 

4,850

 

5,555

 

4,850

Net cash provided by operating activities

  • In the third quarter of 2018, the net cash provided by operating activities (total) declined by 24.3% to €2,051 million. Covestro was still included in the prior-year quarter. The net cash provided by operating activities in continuing operations rose by 7.8% due mainly to a greater decline in cash tied up in working capital.
  • In the first nine months of 2018, the net cash provided by operating activities (total) declined by 15.6% to €4,949 million. The prior-year figure still included Covestro. The net cash provided by operating activities in continuing operations rose by 13.6% due mainly to a greater decrease in cash tied up in working capital.

Net cash used in investing activities

  • Cash outflows for property, plant and equipment and intangible assets were 18.3% higher in the third quarter of 2018 at €659 million (Q3 2017: €557 million) and included €149 million (Q3 2017: €132 million) at Pharmaceuticals, €53 million (Q3 2017: €41 million) at Consumer Health, €360 million (Q3 2017: €114 million) at Crop Science and €18 million (Q3 2017: €8 million) at Animal Health. The prior-year figures included €117 million at Covestro.
  • There was an inflow of €7,291 million from the divestments to BASF (Q3 2017: €362 million for Covestro).
  • Cash outflows for property, plant and equipment and intangible assets were 1.3% higher in the first nine months of 2018 at €1,467 million (9M 2017: €1,448 million) and included €489 million (9M 2017: €426 million) at Pharmaceuticals, €126 million (9M 2017: €96 million) at Consumer Health, €597 million (9M 2017: €348 million) at Crop Science and €32 million (9M 2017: €19 million) at Animal Health. The prior-year figures included €283 million at Covestro.
  • There was a net cash inflow of €2,909 million from the acquisition and sale of Covestro shares.
  • The net cash inflow from current financial assets amounted to €2,427 million (9M 2017: net cash outflow of €1,057 million).

Net cash used in financing activities

  • In the third quarter of 2018, there was a net cash outflow of €8,561 million for financing activities, especially for net debt repayment totaling €8,180 million (Q3 2017: €904 million).
  • In the first nine months of 2018, there was a net cash inflow of €26,604 million for financing activities, mainly from the issuance of bonds and from further net borrowings of €20,464 million (9M 2017: net debt repayment of €634 million).
  • Capital increases resulted in a net inflow of €8,986 million.
  • Dividend payments amounted to €2,406 million (9M 2017: €2,364 million).
  • The figure for the prior-year period included a net inflow of €3,717 million from the sale of Covestro shares while that company remained fully consolidated.
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