AXWAY_REGISTRATION_DOCUMENT_2017

AXWAY GROUP AND ITS BUSINESS ACTIVITIES Statement of cash flows

CORPORATE RESPONSIBILITY

CORPORATE GOVERNANCE

CONSOLIDATED FINANCIAL STATEMENTS

2017 ANNUAL FINANCIAL STATEMENTS

CAPITAL AND AXWAY SOFTWARE STOCK

INFORMATIONS ADMINISTRATIVES ETbJURIDIQUES

COMBINED GENERAL MEETING OFb6bJUNEb2018

4.2 Statement of cash flows

2017

2016

2015

(in thousands of euros)

Consolidated net income (including share attributable to non-controlling interests)

4,405 12,174

31,477 10,044

27,856 13,773 -2,248

Net increase in depreciation, amortization and provisions Unrealised gains and losses relating to changes in fair value

-79

-51

Share-based payment expense

1,308

1,089

550

Other calculated income and expense

-

-

-

620

Gains and losses on disposal Dilution gains and losses Share in profit of associates

395

900

- - -

- - -

- - -

Dividends (unconsolidated securities)

Cash from operations after cost of net debt and tax

18,203

43,459

40,552

Costs of net financial debt

1,093

380

361

Tax expenses (including deferred tax)

24,021 43,317 -2,051 -11,724 29,543 -4,194

3,745

-2,101 38,813 -2,527 13,317 49,602 -4,723

Cash from operations before cost of net debt and tax (A)

47,584 -3,291

Tax paid (B)

Changes in operating working capital requirements (including liabilities related to employee benefits) (C) Net cash from operating activities (D) = (A+B+C) Purchase of tangible and intangible fixed assets Proceeds from sale of tangible and intangible fixed assets

-5,900 38,394 -10,094

- - -

-

8

Purchase of financial assets

-202

-608

Proceeds from sale of financial assets

-

-

Impact of changes in the scope of consolidation

-52,691

-45,944

-127

Dividends received (associates, unconsolidated securities)

-

-

-

Variations of lending

-635

-1,102

223

Investment grants received

- -

- -

- -

Other cash flows from investing activities Net cash from (used in) investing activities (E)

-57,520

-57,342

-5,227

Proceeds on shares issued

-

-

-

Proceeds on the exercise of stock options

3,150

3,444

3,085

- -

- -

- -

Purchase and proceeds from disposal of treasury shares

Dividends paid during the year

● Dividends paid to shareholders of the parent company ● Dividends paid to minority interests of consolidated companies

-8,468

-8,314

-8,227

-0

-

-

Borrowings

76,033 -62,781

33,000 -1,656

5,000

Repayment of borrowings

-45,984

Change in current accounts − Sopra Group Net interest paid (including finance leases) Other cash flow relating to financing activities Net cash from (used in) financing activities (F) Effect of foreign exchange rate changes (G) Net change in cash and cash equivalents (D+E+F+G)

-

-

-

-1,093

-380

-361

-

-60

339

6,841 -2,434

26,034

-46,148

756

1,071 -702

-23,570

7,841 43,866 51,707

Opening cash position Closing cash position

51,707 28,137

44,568 43,866

118

AXWAY - 2017 REGISTRATION DOCUMENT

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