BIC_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS Consolidated financial statements

CONSOLIDATED CASH FLOW STATEMENT 5.

Notes

Dec. 31, 2016

Dec. 31, 2017

(in thousand euros)

Operating activities Net income Group share

IS

249,686 (35,854) 285,540

288,295 (6,776) 295,072

Net income from discontinued operations • Net income from continuing operations • Income and expense without cash impact: Non-controlling interests

IS

-

-

Depreciation and amortization of intangible and tangible assets and investment properties

93,716 20,901 33,965 22,000 (5,133)

93,203

Impairment loss

(a) (a)

837

Goodwill impairment

-

Provision for employee benefits

19,693

Other provisions (excluding provisions on current assets)

6,590

Unrealized foreign currency gain/loss Hedging and derivative instruments

(b) 

3,303 4,031 1,876

(16,117) (6,449)

Option premium expense

778

Recognition of share-based payments

14,944 (21,835)

8,824 6,569 9,043

Deferred tax variation

(Gain)/Loss from disposal of fixed assets

(c)

(223)

Cash flow from operations

417,231 (62,815) (34,019)

411,267 (9,487) (16,397) (6,277) 92,700 (97,328) 374,476 6,079

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

(d)

18-2, (e)

Financial expense/(income) Interest (paid)/received

(5,676)

5,553

Income tax expense

113,300 (134,838) 276,187 22,548 298,736

Income tax paid

(f) 

Net cash from operating activities from continuing operations • Net cash from operating activities from discontinued operations •

6,081

NET CASH FROM OPERATING ACTIVITIES

380,557

Investing activities Disposal of fixed assets

(c) (g) (g)

1,944

2,576

Purchases of property, plant and equipment

(170,618) (10,212)

(166,031)

Purchases of intangible assets

(8,780)

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

294

(528)

(h) (h)

(5,705) 51,808

(22,870) 30,012 55,749 (1,889) (108,401)

Business and asset divestitures

(i) (i)

- -

Cash out on business and asset divestitures

Net cash from investing activities from continuing operations • Net cash from investing activities from discontinued operations •

(127,178)

(5,310)

(3,360)

NET CASH FROM INVESTING ACTIVITIES

(132,489)

(111,761)

Financing activities Dividends paid

SHEQ, 21, (j)

(277,042) 19,820 (1,214) (1,919) (81,782) (291,513) (47,958) (339,471) (173,224) 380,612 10,042 217,430 2,666

(161,045) (18,490)

Borrowings/(Repayments)

16, (k)

Payments of obligations under finance leases

16 

(1,168)

Purchase of financial instruments

(500)

Increase in treasury shares Exercise of stock options

(l) (l)

(97,989)

3,834

Net cash from financing activities from continuing operations • Net cash from financing activities from discontinued operations •

(273,056)

(2,302)

NET CASH FROM FINANCING ACTIVITIES

(275,358) (6,562) 217,430 (23,899) 186,969

Net cash variation

Opening cash and cash equivalents net of bank overdrafts

BS

Exchange difference

CLOSING CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTS

BS

IS: See consolidated income statement. SHEQ: See consolidated statement of changes in equity. BS: See consolidated balance sheet.

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BIC GROUP - 2017 REGISTRATION DOCUMENT