Econocom - 2020 annual report

06 consolidated financial statements

notes to the consolidated financial statements

Estimated payments under defined benefit plans 17.6. (no discounting) over a ten-year period Timing of estimated payments to be made to employees under the main defined benefit plans, either by the plan (plan assets) or directly by Econocom if there are no plan assets:

Due in less than 1 year 1-2 years 2-3 years 3-4 years 4-10 years

Total

in € millions

Estimated payments

2.0

1.2

1.8

2.4

29.2

36.6

Notes to the consolidated 18. statement of cash flows Definition of cash flows

Cash flows are presented in the statement of cash flows, which analyses changes in cash flows from all activities, including continuing and discontinued operations as well as activities heldfor sale.

Cash as presented in the statement of cash flows includes cash and cash equivalents, presented net of bank overdrafts.

Year-on-year changes in cash and cash equivalents can be broken down as follows in 2020 and 2019:

2020

2019

in € millions

575.6

604.8 (29.3) 575.6

Net cash and cash equivalents at 1 January

72.9

Change in net cash and cash equivalents

648.5

Net cash and cash equivalents at 31 December

Comments on the net cash from (used in) 18.1. operating activities

Net cash used in operating activities totalled €232.6 million in 2020 compared to €126.2 million in 2019, reflecting: cash flow from operating activities • totalling €107.2 million in 2020 versus €141.3 million in 2019; a reduction in outstandings related to • self-funded contracts in the Technology Management & Financing activity for

€52.6 million in 2020 (down by €7.7 million in 2019); • requirement (down €86.9 million in 2020 compared with a drop of 6.5 million in 2019); this decline reflects the constant attention paid to the reduction of the cash requirementsof each entity. other drops in working capital

240 2020 annual report