LEGRAND_REGISTRATION_DOCUMENT_2017

08 CONSOLIDATED FINANCIAL INFORMATION CONCERNING

THE GROUP’S ASSETS, LIABILITIES, FINANCIAL POSITION AND RESULTS Consolidated financial statements in accordance with IFRS for the years ended December 31, 2017 and December 31, 2016

8.1.5 – Consolidated statement of cash flows

12 months ended

December 31, 2017

December 31, 2016

(in € millions)

Profit for the period

713.2

630.2

Adjustments for non-cash movements in assets and liabilities: W Depreciation and impairment of tangible assets (Note 2.3) W Amortization and impairment of intangible assets (Note 2.3)

99.8 66.6 32.7

97.1 47.4 30.5

W Amortization and impairment of capitalized development costs (Note 2.3)

W Amortization of financial expenses W Impairment of goodwill (Note 3.2) W Changes in long-term deferred taxes

1.8 0.0

2.4 0.0

(50.9)

(36.7)

W Changes in other non-current assets and liabilities (Notes 4.4 and 4.5)

38.0

33.7

W Unrealized exchange (gains)/losses

0.6 1.5

(16.2)

W Share of (profits) losses of equity-accounted entities W Other adjustments for non-cash movements

1.3 0.9 0.8

16.4

W Net (gains)/losses on sales of assets Changes in working capital requirement: W Inventories (Note 3.4)

0.1

(55.7) (30.1)

36.4 18.8 15.7

W Trade receivables (Note 3.5)

W Trade payables

44.1

W Other operating assets and liabilities (Notes 3.6 and 4.8)

(14.4) 863.7

(30.5) 831.8

Net cash from operating activities

W Net proceeds from sales of fixed and financial assets

10.3

2.1

W Capital expenditure (Notes 3.1 and 3.3)

(144.6)

(126.3)

W Capitalized development costs

(33.6)

(34.6)

W Changes in non-current financial assets and liabilities W Acquisitions of subsidiaries, net of cash acquired (Note 1.3.2)

3.8

14.1

(1,638.0) (1,802.1)

(407.4) (552.1)

Net cash from investing activities

W Proceeds from issues of share capital and premium (Note 4.1.1)

16.9

8.3

W Net sales (buybacks) of treasury shares and transactions under the liquidity contract (Note 4.1.2)

1.8

(81.8)

W Dividends paid to equity holders of Legrand (Note 4.1.3)

(317.1)

(307.1)

W Dividends paid by Legrand subsidiaries W Proceeds from long term financing (Note 4.6) W Repayment of long term financing (Note 4.6)

(1.5)

(1.9)

1,402.7 (305.7)

0.0

(7.6)

W Debt issuance costs

(9.7)

0.0 2.5

W Net sales (buybacks) of marketable securities W Increase (reduction) in short term financing (Note 4.6)

0.0

100.6

(5.5)

W Acquisitions of ownership interests with no gain of control (Note 1.3.2)

(0.6)

(23.4)

Net cash from financing activities

887.4 (66.1)

(416.5)

Translation net change in cash and cash equivalents Increase (decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period (Note 3.7)

(9.0)

(117.1)

(145.8) 1,085.9

940.1 823.0

940.1

Items included in cash flows: W Interest paid* during the period W Income taxes paid during the period

84.7

85.0

256.7

246.4

* Interest paid is included in the net cash from operating activities.

The accompanying Notes are an integral part of these consolidated financial statements.

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REGISTRATION DOCUMENT 2017 - LEGRAND