Cash Flow Statement

Calculation via the indirect method

Deutsche Post DHL calculates cash flow from operating activities via the indirect method. Earnings before taxes (EBT) is the starting point, adjusted by amounts which do not lead to cash flow or cannot be allocated to operating activities. After calculating net cash from operations, net cash from investing activities is calculated followed by an evaluation of net cash from financial activities.

Calculation of the free cash flow
Profit from operating activities (EBIT)
/	Depreciation/amortisation of non-current assets
/	Change in provision
/	Change in other assets and liabilities
	Net cash from operating activities before changes in working capital
/	Changes in working capital
	Net cash used in/from operating activities
/	Net cash from/used in investing activities
	Free cash flow