4.2.5Consolidated Cash Flow Statement
in millions of US$ | Notes | 2024 | 2023 |
|---|---|---|---|
Cash flow from operating activities | |||
Profit/(loss) before income tax | 283 | 589 | |
Adjustments to reconcile profit before taxation to net cash flows: | |||
Depreciation and amortization | 70 | 65 | |
Impairment | 43 | 31 | |
Net financing costs | 659 | 573 | |
Share net income of associates and joint ventures | (19) | (19) | |
Share-based compensation | 21 | 20 | |
Other adjustments for non-cash items | (49) | - | |
Gain on disposal of equity-accounted investees | 22 | - | |
Net (gain)/loss on sale of property, plant and equipment | 1 | (0) | |
(Increase)/Decrease in working capital: | |||
- (Increase)/decrease trade and other receivables | 161 | (58) | |
- (Increase)/decrease contract assets | (1,419) | (2,774) | |
- (Increase)/decrease inventories | (26) | (124) | |
- Increase/(decrease) trade and other payables | (469) | (226) | |
Increase/(decrease) other provisions | 4 | 112 | |
Reimbursement finance lease assets | 2,378 | 1,743 | |
Income taxes paid | (178) | (101) | |
Net cash flows from (used in) operating activities | 1,482 | (169) | |
Cash flow from investing activities | |||
Acquisition of subsidiaries, net of cash acquired | 179 | - | |
Investment in property, plant and equipment | (79) | (128) | |
Investment in intangible assets | (37) | (45) | |
Additions to funding loans | (5) | (11) | |
Redemption of funding loans | 0 | 1 | |
Interest received | 26 | 24 | |
Dividends received from equity-accounted investees | 0 | 17 | |
Proceeds from disposal of property, plant and equipment | 0 | 0 | |
Disposal of interests in equity-accounted investees | 12 | - | |
Purchase of interests in equity-accounted investees | (6) | (1) | |
Net cash flows from (used in) investing activities | 92 | (142) | |
Cash flow from financing activities | |||
Equity funding from/repayment to non-controlling interests | 196 | 235 | |
Additions to borrowings and loans | 2,151 | 3,440 | |
Repayments of borrowings and lease liabilities | (3,000) | (2,988) | |
Dividends paid to shareholders and non-controlling interests | (249) | (279) | |
Payments from/to non-controlling interests for change in ownership | 53 | (21) | |
Share repurchase program | (102) | (5) | |
Proceeds from settlement of interest rate swaps | - | 154 | |
Interest paid | (356) | (366) | |
Net cash flows from (used in) financing activities | (1,307) | 170 | |
Net increase/(decrease) in cash and cash equivalents | 267 | (141) | |
Net cash and cash equivalents as at 1 January | 543 | 683 | |
Net increase/(decrease) in net cash and cash equivalents | 267 | (141) | |
Foreign currency variations | (4) | 1 | |
Net cash and cash equivalents as at 31 December | 806 | 543 |
As at December 31, 2024 and December 31, 2023, no differences arise between net cash and cash equivalents and the corresponding amounts in the statement of financial position.