Investor Relations Financial
Data Preliminary Results 2007
CASH FLOW
| Consolidated cash flow statement For the year ended 30 September 2007 |
||||
| 2007 | 2006 | |||
| €m | €m | |||
| Cash flows from operating activities | ||||
| Profit before taxation | 1,243 | 850 | ||
| Interest earned on available-for-sale financial assets | (465) | (154) | ||
| Financing costs of subordinated liabilities and other capital instruments | 261 | 174 | ||
| Other non-cash items | 138 | 142 | ||
| 1,177 | 1,012 | |||
| Changes in operating assets and liabilities | ||||
| Net increase in deposits | 21,682 | 20,052 | ||
| Net increase in loans and advances to customers | (16,846) | (15,422) | ||
| Net (increase)/decrease in loans and advances to banks | (3) | 17 | ||
| Net increase in assets held in respect of liabilities to customers under investment contracts | (469) | (772) | ||
| Net increase in investment contract liabilities | 385 | 479 | ||
| Net decrease/(increase) in financial assets at fair value through profit or loss held on own account | 26 | (439) | ||
| Net movement in derivative financial instruments | (278) | (22) | ||
| Net decrease/(increase) in other assets | 482 | (255) | ||
| Net increase in other liabilities | 143 | 8 | ||
| Exchange movements | 383 | 72 | ||
| Net cash flows from operating activities before taxation | 6,682 | 4,730 | ||
| Tax paid | (217) | (163) | ||
| Net cash flows from operating activities | 6,465 | 4,567 | ||
| Cash flows from investing activities (note a) | (7,562) | (111) | ||
| Cash flows from financing activities (note b) | 1,399 | 1,459 | ||
| Net increase in cash and cash equivalents | 302 | 5,915 | ||
| Opening cash and cash equivalents | 10,800 | 4,926 | ||
| Effect of exchange rate changes on cash and cash equivalents | (270) | (41) | ||
| Closing cash and cash equivalents | 10,832 | 10,800 | ||
| (a) Cash flows from investing activities | ||||
| Purchases of available-for-sale financial assets | (14,743) | (2,538) | ||
| Sales and redemptions of available-for-sale financial assets | 7,120 | 2,340 | ||
| Interest received on available-for-sale financial assets net of associated hedges | 332 | 146 | ||
| Purchases of assets classified as held for sale | (288) | - | ||
| Proceeds on disposal of Isle of Man trust business | 44 | - | ||
| Purchases of property, plant and equipment | (12) | (8) | ||
| Proceeds on disposals of property, plant and equipment | 1 | 1 | ||
| Additions to intangible assets - software | (7) | (12) | ||
| Investments in joint venture interests | (42) | (51) | ||
| Proceeds on disposals of joint venture interests | 13 | - | ||
| Distributions received from joint venture interests | 10 | 11 | ||
| Purchases of investment property held on own account | (1) | - | ||
| Proceeds on disposals of investment property held on own account | 11 | - | ||
| Net cash used in investing activities | (7,562) | (111) | ||
| (b) Cash flows from financing activities | ||||
| Proceeds of equity share issues | 552 | 431 | ||
| Proceeds from issues of subordinated liabilities and other capital instruments | 1,259 | 1,552 | ||
| Redemptions of subordinated liabilities and other capital instruments | (104) | (260) | ||
| Coupons paid on subordinated liabilities and other capital instruments | (205) | (155) | ||
| Equity dividends paid | (86) | (74) | ||
| Purchases of own shares | (17) | (35) | ||
| Net cash flows from financing activities | 1,399 | 1,459 |
