![]() ![]() By contrast, payments made for acquisitions amounted to €600 million in 2021, around half the prior-year figure. Payments received for divestitures and the disposal of the shareholding in Solenis in 2021 were below the figure from the disposal of the construction chemicals business in the previous year. This was due in particular to the elimination of equity-accounted income and the reclassification of income from divestitures, including the gain on the disposal of the shareholding in Solenis, to cash flows from investing activities.Ĭash flows from investing activities totaled –€2,622 million in 2021, after –€1,904 million in the previous year. Miscellaneous items led to cash tied up of €398 million in 2021, after cash released of €122 million in the previous year. This effect was less pronounced in the previous year at €927 million. This was largely attributable to the increase in trade accounts payable and current provisions. By contrast, the €3,010 million rise in liabilities increased operating cash flows. Trade accounts receivable rose by €1,799 million, €805 million more than in the previous year. The improvement was due in particular to the reduction in precious metal trading exposures. This mainly resulted from the significant increase in inventories by €3,304 million due to higher business volumes and prices after a reduction in inventories had supported operating cash flows in the previous year.Ĭash of €1,272 million was tied up in receivables, €904 million less than in the prior year. An offsetting factor was cash tied up in net working capital, which rose by €1,166 million to €1,566 million in 2021. Accordingly, depreciation and amortization of property, plant and equipment and intangible assets was significantly below the prior-year figure in 2021, at €3,687 million. The considerable increase was primarily due to the improvement in net income, which had included high impairments in the previous year.
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