O www.ahold.com/reports2009
Group performance - continued
-
Performance
Condensed cash flow statement
2009
million
2008
million
Cash generated from operations
1,940
1,871
Other operating cash flows
(48)
(129)
Net cash from operating activities
1,892
1,742
Purchase of non-current assets
(770)
(1,019)
Divestment of businesses, net of cash divested
(8)
321
Investment in short-term deposits
(289)
Other investing cash flows
114
227
Net cash from investing activities
(953)
(471)
Cash flow before financing activities
939
1,271
Interest paid
(310)
(348)
Repayments of loans
(524)
(1,069)
Dividends on common shares
(212)
(188)
Other financing cash flows
(62)
(111)
Net cash from financing activities
(1,108)
(1,716)
Net cash from operating, investing and financing activities
(169)
(445)
Cash generated from operations increased by €69 million compared to 2008, despite
additional cash contributions of €112 million to our U.S. and Dutch pension plans. Net
cash from operating activities increased by €150 million compared to 2008, positively
impacted by lower income taxes paid.
Net cash used in investing activities increased by €482 million compared to 2008, primarily
reflecting lower disposal proceeds (€329 million) and short-term investments (€289 million),
partially offset by lower capital expenditures (€249 million). The investment in six-month
deposits in 2009 is, given its maturity, not classified as cash and is therefore shown as a
cash outflow in the cash flow statement. Lower capital expenditures were primarily a result
of the conversion of former Schuitema stores into Albert Heijn stores in 2008.
Net cash used in financing activities was €1.1 billion, a €0.6 billion lower outflow than
in 2008. This was mainly due to loan repayments of €1.1 billion in 2008, whereas these
amounted to €0.5 billion in 2009. Dividends paid in 2009 amounted to €212 million, an
increase of 12.8 percent over 2008.
