2021 Universal Registration Document

FINANCIAL STATEMENTS

Consolidated financial statements

5. CONSOLIDATED CASH FLOWSTATEMENT

Notes

December 31, 2020 December 31, 2021

(in thousand euros)

Operating activities Net income Group share

IS

93,724

314,195

Elimination of expenses and income with no impact on cash flows or non-business related expenses: Argentina hyperinflationary accounting Depreciation and amortization of intangible and tangible assets and investment properties

1,642

1,943

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

115,154 44,063

111,794

2

Impairment loss on tangible and non-tangible assets

Subsidiaries acquisition costs Provision for employee benefits

2,368

-

18 17

(26,828)

3,226

Other provisions (excluding provisions on current assets)

4,026

(1,683) (1,445)

20 (b)

Unrealized foreign currency gain/loss Hedging and derivative instruments

(3,814) (5,353)

8,637

Option premium expense

888

491

Recognition of share-based payments

23, SHEQ

5,444 1,440

10,446

Financial expense/(income)

(372)

Income tax expense Deferred tax variation

7

58,915

140,965 (7,370)

2,697 (128)

5, 20 (c) 5, 20 (c) 5, 20 (c)

(Gain)/loss from disposal of other fixed assets

140

- -

(167,711)

Gain on sale of Clichy headquarters

(3,027)

Gain on disposal of PIMACO Cash flow from operations

294,240 129,751 (16,317) (50,028)

410,231 (19,928) (9,325) (100,421)

14, 20 (d)

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

18-2, 20 (e)

Income tax paid

NET CASH FROMOPERATING ACTIVITIES

357,646

280,556

Investing activities Diposal of PIMACO

- -

4,600

Sale of Clichy headquarters Disposal of other fixed assets

127,944

20 (c)

2,726

6,644

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

(76,730) (6,365)

(66,178) (8,691)

Purchases of property, plant and equipment

Purchases of intangible assets

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

(211) 3,861

408

20 (h) 20 (i)

-

(72,542)

(7,154)

Acquisition of subsidiaries

NET CASH FROM INVESTING ACTIVITIES

(149,259)

57,573

Financing activities Dividends paid

SHEQ, 21.20 (j)

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

(80,919) (11,992)

16, 20 (k)

Borrowings/(repayments) Interest (paid)/received

364

Payments of obligations under leases Purchase of financial instruments

16

(16,650)

(496)

(222)

20 (l)

Increase in treasury shares

(7,532)

(38,854)

NET CASH FROM FINANCING ACTIVITIES

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

(148,273) 189,856 264,733 13,824

Net cash variation

Opening cash and cash equivalents net of bank overdrafts

BS, 16, 22

Exchange difference

CLOSING CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTS

BS, 16, 22

264,733

468,413

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.

208

• BIC GROUP - 2021 UNIVERSAL REGISTRATION DOCUMENT •