GROUPAMA / 2018 Registration document

7 FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS AND NOTES

31.12.2018

31.12.2017

(in millions of euros)

Operating income before taxes

598

76

Capitalgains (losses) on the sale of investments Net allocations to amortisation and depreciation

(414)

(236)

145 (38)

142

Change in deferred acquisition costs

44

Change in impairment

(3)

(139)

Net allocations to technicaliabilities related to insurance policies and financialcontracts

(633)

856

Net allocations totherreserves

(68)

32

Change in fair valueof financialinstruments and investments recognised atf ir valuethroughincome (excludingcash andcash equivalents)

785

(657)

Othernon-cash items included in operating income

34

40

Correction of elements included in the operating comeotherthan cash flows and reclassification of investment and financing flows

(192)

81 69 (7) 61

Change in operating receivables and payables Change in banking operating receivables and payables

175

(9) 91

Change in repo and reverse-repo securities Cash flows from otherassetsand liabilities

(18)

(16) (34) 231 753 (64) 689

Net tax paid

(104)

NET CASH FLOWS FROM OPERATING ACTIVITIES

541

Acquisitions/divestments of subsidiaries and joint ventures, netof cash acquired/transferred

52

Stakesin relatedcompaniesacquired/divested Cashflows due to changes in scopeof consolidation

(58)

(6)

Net acquisitions of financialinvestments (including unit-linked investments) and derivatives

(1,057)

(961)

Net acquisitions of investmentproperty

444

143

Net acquisitions and/orissues of investments and derivatives relatingto otheractivities Othernon-cash items

39

(29)

Cashflows from acquisitions and issues of investments

(573) (182)

(846) (171)

Net acquisitions ofproperty,plantand equipment, intangible fixedassetsand operating property Cashflows from acquisitions and disposals of pr perty, plant and equipment and intangible fixedassets

(182)

(171)

NET CASH FLOWS FROM INVESTMENT ACTIVITIES

(762)

(328)

Membership fees Issueof capital instruments

43 (8)

Redemptionof equity instruments  (2) Transactions involving own shares Dividendspaid  (1) Cash allocated to financialdebt  Interest paid on financialdebt Cashflows from group financing

(414)

(65) (30) 495 (85) 410

(55)

Cashflows from transactions with shareholders and members

(469)

386 (88) 298

(2)

Financingcash flows from activities tobe sold ordiscontinued NET CASH FLOWS FROM FINANCING ACTIVITIES

380

(171)

CASH AND CASH EQUIVALENTS AT 1 JANUARY

445 541

621 231

Net cashflows from operating activities Net cashflows from investment activities Net cashflows from financing activities

(762)

(328) (171)

380

Cash flows from soldor discontinued assetsand liabilities

98 (5)

Effect of foreign exchange changes oncash

(5)

CASH AND CASH EQUIVALENTS AT 31 DECEMBER

599

445

They correspond in particular to payment for subordinated securities classified in shareholders’ equity under IFRS. (1) Movements relating to financing activities are detailed in Notes 21.2 and 24.1. (2)

188

REGISTRATION DOCUMENT 2018 - GROUPAMA ASSURANCES MUTUELLES

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