Cash flow statement for continuing operations

Net cash from operating activities fell by €2,118 million year-on-year to €1,244 million. This is mainly the result of the utilisation of provisions, primarily due to the restructuring of the US express business. For this reason, net cash from operating activities before changes in working capital was down significantly on the prior-year figure (€2,714 million), at €763 million. The reduction in working capital also led to an increase in net cash from operating activities. In particular, the decline in receivables and other current assets contributed to the improvement. All in all, the net cash from working capital is down €167 million year-on-year.

A.28 Selected cash flow indicators (continuing operations)
€m
	2008	2009
Cash and cash equivalents as at 31 December	1,350	3,064
Change in cash and cash equivalents	62	1,456
Net cash from operating activities	3,362	1,244
Net cash used in investing activities	–914	–1,469
Net cash used in/from financing activities	–2,386	1,681