Notes to the Consolidated Cash Flow Statement
The consolidated cash flow statement has been drawn
up using the indirect method. The various consolidated
profit and loss account and balance sheet items have
been adjusted for changes which have no effect on the
receipts and payments during the year. Working capital
comprises stocks, receivables and current liabilities
(excluding bank overdrafts and repayment commit
ments on long-term borrowings). The cash flow from
investing activities relates to the net amount of invest
ments and disposals. The net cash position consists
of cash in hand and at bank, securities and bank
overdrafts.
Provisions Long-term Repayment
borrowings commitments
Position as at 1 January 2003 981 1,215 205
Revaluation/exchange differences -58 -20 -11
Changes in the consolidation 365 235 32
Other non-cash-flow movements -17 - 210 219
Cash flow movements 95 1,501 -271
Position as at 31 December 2003 1,367 2,721 174
Working capital
Position as at 1 January 2003 400
Revaluations/exchange differences - 36
Changes in the consolidation 88
Other non-cash-flow movements - 57
Cash flow movements - 92
Position as at 31 December 2003 303
FINANCIAL STATEMENTS 2003
75