BIC - 2020 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

5. CONSOLIDATED CASH FLOWSTATEMENT

Notes

December 31, 2019 December 31, 2020

(in thousand euros)

Operating activities Net income Group share

IS

176,095

93,724

Income and expense without cash impact: Argentina hyperinflationary accounting

-

-

3,368

1,642

Depreciation and amortization of intangible and tangible assets and investment properties

2, 9-2, 11 9-2, 11 10, 20 (a)

117,596 21,122 23,493

115,154 44,063

Impairment loss on tangible and non tangible assets

Goodwill impairment

-

Subsidiaries acquisition costs Provision for employee benefits

2,368

18 17

4,839 1,604

(26,828)

Other provisions (excluding provisions on current assets)

4,026

20 (b)

Unrealized foreign currency gain/loss Hedging and derivative instruments

(4,166)

(3,814) (5,353)

(667)

Option premium expense

899

888

Recognition of share-based payments

23, SHEQ

(3,913) (5,987)

5,444 2,697 (128)

Deferred tax variation

5, 20 (c)

(Gain)/Loss from disposal of fixed assets

190

Cash flow from operations

334,475 (21,104) (13,284)

233,885 129,751 (16,317)

14, 20 (d)

(Increase)/Decrease in net working capital Payments related to employee benefits

18-2, 20 (e)

Financial expense/(income)

(937)

1,440

Income tax expense

81,336 (63,241)

58,915 (50,028)

Income tax paid

NET CASH FROMOPERATING ACTIVITIES

317,245

357,646

Investing activities Disposal of fixed assets

20 (c)

1,263

2,726

9-1, 20 (g) 11, 20 (g)

Purchases of property, plant and equipment

(99,549) (5,351)

(76,730) (6,365)

Purchases of intangible assets

(Increase)/Decrease in other investments Purchase of other current financial assets Sale of other current financial assets

57

(211)

20 (h) 20 (h) 20 (i)

(7,769) 16,777 (16,227)

-

3,861

Acquisition of subsidiaries

(72,542)

NET CASH FROM INVESTING ACTIVITIES

(110,800)

(149,259)

Financing activities Dividends paid Interest (paid)/received Borrowings/(Repayments)

SHEQ, 21, 20 (j)

(155,228)

(110,214) (1,236) 77,237 (18,865)

931

16, 20 (k)

2,855

Payments of obligations under leases Purchase of financial instruments

16

(17,554)

(899)

(496)

20 (l) 20 (l)

Increase in treasury shares

(39,170)

(7,532)

Liquidity contract

(771)

-

NET CASH FROM FINANCING ACTIVITIES

(209,835) (3,390) 149,795

(61,106) 147,281 146,846 (29,394)

Net cash variation

Opening cash and cash equivalents net of bank overdrafts

BS, 16, 22

Exchange difference

440

CLOSING CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTS

BS, 16, 22

146,845

264,733

IS: See consolidated income statement. SHEQ: See consolidated statement of changes in equity. BS: See consolidated balance sheet. References from (a) to (l) explained in Note 20.

216

• BIC GROUP - 2020 UNIVERSAL REGISTRATION DOCUMENT •