| (in € millions) | 2021 | 2020 |
|---|---|---|
| Operating activities | Operating activities2021
|
Operating activities 2020
|
| Gross operating income | Gross operating income 202128 |
Gross operating income 2020 (1) |
| Financial and exceptional items | Financial and exceptional items 20212,680 |
Financial and exceptional items 2020 401 |
| Tax | Tax 2021139 |
Tax 2020 137 |
| Cash flow from operations before tax and financing costs | Cash flow from operations before tax and financing costs20212,846 | Cash flow from operations before tax and financing costs 2020 537 |
| Net change in working capital requirement | Net change in working capital requirement 2021168 |
Net change in working capital requirement 2020 55 |
| Total (I) | Total (I)20213,014 | Total (I) 2020 592 |
| Investing activities | Investing activities2021
|
Investing activities 2020
|
| Operating investments | Operating investments 2021(2) |
Operating investments 2020 (2) |
| Disposals of non-current assets | Disposals of non-current assets 20216 |
Disposals of non-current assets 2020 2 |
| Net operating investments | Net operating investments20214 | Net operating investments 2020 - |
| Acquisition of investments and securities | Acquisition of investments and securities 2021(5,211) |
Acquisition of investments and securities 2020 (181) |
| Disposals of investments in subsidiaries and affiliates | Disposals of investments in subsidiaries and affiliates 2021- |
Disposals of investments in subsidiaries and affiliates 2020
|
| Net financial investments | Net financial investments2021(5,211) | Net financial investments 2020 (181) |
| Change in other non-current financial assets and treasury shares | Change in other non-current financial assets and treasury shares 2021(600) |
Change in other non-current financial assets and treasury shares 2020 (335) |
| Total (II) | Total (II)2021(5,807) | Total (II) 2020 (516) |
| Financing activities | Financing activities2021
|
Financing activities 2020
|
| Increases in share capital | Increases in share capital 2021739 |
Increases in share capital 2020 247 |
| Dividends paid | Dividends paid 2021(1,528) |
Dividends paid 2020 (273) |
| of which interim dividends | of which interim dividends2021(371) | of which interim dividends 2020 - |
| Total (III) | Total (III)2021(789) | Total (III) 2020 (26) |
| Cash flow for the period (I + II + III) | Cash flow for the period (I + II + III)2021(3,582) | Cash flow for the period (I + II + III) 2020 50 |
| Net financial surplus/(debt) at 1 January | Net financial surplus/(debt) at 1 January20218,021 | Net financial surplus/(debt) at 1 January 2020 7,971 |
| Net financial surplus/(debt) at 31 December | Net financial surplus/(debt) at 31 December20214,439 | Net financial surplus/(debt) at 31 December 2020 8,021 |
