GROUPAMA / 2019 Universal Registration Document

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

The cash flow statement is presentedaccording to the indirect method model and in accordancewith the presentationrecommendedby the ANC (Frenchaccountingstandardsauthority)in recommendation no 2013-R-05 of 7 November 2013.

Cashflowstatement (in millionsof euros)

31.12.2019

31.12.2018

Operatingincomebeforetaxes

441

598

Capitalgains(losses)on the saleof investments Netallocationsto amortisationanddepreciation

(532)

(414)

164

145 (38)

Changein deferredacquisitioncosts

(2) 21

Changein impairment

(3)

Netallocationsto technicalliabilitiesrelatedto insurancepoliciesandfinancialcontracts

1,590

(633)

Netallocationsto otherreserves

(25)

(68)

Changein fair valueof financialinstrumentsand investmentsrecognisedat fair valuethroughincome (excludingcashandcashequivalents)

(1,445)

785

Othernon-cashitemsincludedin operatingincome

108

34

Correctionof elementsincludedin theoperatingincomeotherthancashflowsandreclassification of investmentandfinancingflows

(121) (245)

(192)

Changein operatingreceivablesandpayables Changein bankingoperatingreceivablesandpayables

175

(3)

(9) 91

Changein repoandreverse-reposecurities Cashflowsfromotherassetsand liabilities

(376)

(74) (77)

(18)

Nettax paid

(104)

NET CASHFLOWSFROMOPERATIONS

(453)

541

Acquisitions/divestments of subsidiariesand jointventures,net of cashacquired/disposed

0

52

Stakesin relatedcompaniesacquired/divested

(66) (66) (36) 611

(58)

Cashflowsdueto changesin scopeof consolidation

(6)

Netacquisitionsof financialinvestments (includingunit-linked investments)andderivatives

(1,057)

Netacquisitionsof investmentproperty

444

Netacquisitionsand/orissuesof investmentsandderivativesrelatingto otheractivities Othernon-cashitems

203 777

39

Cashflowsfromacquisitionsandissuesof investments

(573) (182)

Netacquisitionsof property,plantandequipment, intangiblefixedassetsandoperatingproperty Cashflowsfromacquisitionsanddisposalsof property,plantandequipment andintangiblefixedassets

(444)

(444)

(182) (762)

NET CASHFLOWSFROMINVESTMENT

268

Membership fees Issueof capitalinstruments

43 (8)

Redemptionof equityinstruments (2) Transactions involvingownshares Dividendspaid (1)

(23)

(100) (123)

(65) (30) 495 (85) 410 380 445 541

Cashflowsfromtransactionswithshareholdersandmembers

Cashallocatedto financingliabilities (2)

(5)

Interestpaidon financialdebt

(98) 212 108 (15) 599

Cashgeneratedby IFRS 16rent liabilities Cashflowsfromgroupfinancing NET CASHFLOWSFROMFINANCING

CASHANDCASHEQUIVALENTSAT 1 JANUARY2019

Netcashflowsfromoperations Netcashflowsfrom investment Netcashflowsfromfinancing

(453)

268 (15)

(762)

380

Cashflowsfromsoldor discontinuedassetsand liabilities

(4) (2)

Effectof foreignexchangechangeson cash

(5)

CASHANDCASHEQUIVALENTSAT 31 DECEMBER 2019

393

599

They correspond in particularto payment for subordinated securities classified in group’s equity underIFRS. (1) Movements relating to financing activities ared tailed in Notes 22.2 and 25.1. (2)

144

Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES

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