Euronext - 2019 Universal Registration Document

Financial Statements

Consolidated Statement of Cash Flows

8.4 Consolidated Statement of Cash Flows

Year ended

Note

31 December 2019

31 December 2018

In thousands of euros

Profit before income tax

325,572

311,712

Adjustments for: n Depreciation and amortisation

10

43,676

23,400

n Share based payments

9

6,943

3,979

n Change in fair value of financial liabilities

13

13,275

3,200

n Share of profit from associates and joint ventures, and impairments thereof

7

(1,844)

(1,612)

n Changes in working capital and provisions

(35,418)

(18,875)

Cash flow from operating activities

352,204

321,804

Income tax paid

(98,433)

(98,292)

223,512

Net cash generated by operating activities Cash flow from investing activities Acquisition of associates and joint ventures

253,771

7

(6,031)

(853)

Acquisition of subsidiaries, net of cash acquired

5

(581,825)

(176,101)

Purchase of financial assets at FVOCI

20

(22,091)

(31,684)

Purchase of other current financial assets

(4,082)

(14,300)

Redemption of other current financial assets

20,300

18,820

Purchase of property, plant and equipment

16

(14,663)

(10,958)

Purchase of intangible assets

18

(11,394)

(11,307)

Dividends received from equity investments

14

7,270

5,984

Dividends received from associates

7

5,167

4,884

Proceeds from sale of property, plant and equipment and intangible assets

42

363

(215,152)

Net cash (used in) investing activities

(607,307)

Cash flow from financing activities Proceeds from borrowings, net of transaction fees

29

538,925

496,595

Repayment of borrowings, net of transaction fees

29

(90,674)

(165,000)

Interest paid

(6,252)

(643)

Interest received

5,131

274

Dividends paid to the Company’s shareholders

26

(107,239)

(120,441)

Dividends paid to non-controlling interests

(1,452)

(1,600)

8

Payment of lease liabilities

17

(9,744)

-

Transactions in own shares

26

896

(5,787)

Employee Share transactions

(1,913)

(1,386)

Net cash (used in) financing activities

327,678 (25,858)

202,012 210,372

Net (decrease)/increase in cash and cash equivalents

Cash and cash equivalents – Beginning of the period

398,018

187,785

(2,338)

(139)

Non-cash exchange (losses)/gains on cash and cash equivalents

CASH AND CASH EQUIVALENTS – END OF THE PERIOD

369,822

398,018

The above Consolidated Statement of Cash Flows should be read in conjunction with the accompanying notes.

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2019 UNIVERSAL REGISTRATION DOCUMENT