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Cash Flow Statement

Consolidated Statement of Cash Flows (IFRS)

€ in millionsFirst half year
First half year
Operating activities:  
Income before taxes907570
Adjustments for:  
  Depreciation, amortisation and impairment losses176179
  Reversals of impairment losses(0)(1)
 Unrealised foreign exchange losses, net2956
  Interest income(9)(9)
  Interest expense2732
  (Gains)/losses on sale of property, plant and equipment and intangible assets, net(39)4
Operating profit before working capital changes1,090831
  Increase in receivables and other assets(509)(440)
  Increase in inventories(416)(344)
 (Decrease)/increase in accounts payable and other liabilities(13)123
Cash generated in operations before interest and taxes152170
  Interest paid(16)(18)
  Income taxes paid(210)(200)
Net cash used in operating activities - continuing operations(74)(48)
Net cash (used in)/generated from operating activities - discontinued operations(0)17
Net cash used in operating activities(75)(31)
Investing activities:  
  Purchase of trademarks and other intangible assets(23)(12)
  Proceeds from sale of trademarks and other intangible assets00
  Purchase of property, plant and equipment(178)(126)
  Proceeds from sale of property, plant and equipment41
  Proceeds from sale of assets held for sale14-
  Proceeds from sale of a disposal group32-
  Acquisition of subsidiaries and other business units net of cash acquired-(7)
  (Purchase of)/proceeds from short-term financial assets(0)0
  Purchase of investments and other long-term assets(3)(7)
  Interest received99
Net cash used in investing activities - continuing operations(146)(141)
Net cash used in investing activities - discontinued operations-(4)
Net cash used in investing activities(146)(145)
Financing activities:  
  Repayments of long-term borrowings-(9)
  Repayments of finance lease obligations(1)(1)
  Dividend paid to shareholders of adidas AG(320)(303)
  Dividend paid to non-controlling interest shareholders(2)(6)
  Repurchase of treasury shares-(301)
  Proceeds from short-term borrowings47032
  Repayments of short-term borrowings(138)-
Net cash from/(used in) financing activities9(588)
Effect of exchange rates on cash (19)41
Decrease of cash and cash equivalents(230)(724)
Cash and cash equivalents at beginning of year1,3651,683
Cash and cash equivalents at end of the period1,135959

Rounding differences may arise in percentages and totals.