NEOPOST - 2018 Registration document

6

Financial statements

Consolidated financial statements

Consolidated statement of cash flow

(In million euros)

Notes

31 January 2019

31 January 2018

Net income attributable to shareholders of the parent company

91.5

133.8

Net income attributable to non-controlling interests

0.1

(1.1)

Expenses (income) with no cash effect

(8-1)

88.0

94.8

Share of results of associated companies (net of dividends received)

(1.1)

(1.4)

Income taxes expense (including deferred taxes)

(12-3)

36.8

0.8

Net cost of debt

31.2

32.2

Cash flow before net cost of debt and income taxes

246.5

259.1

Working capital variation

(8-2)

15.1

20.6

Increase (decrease) in lease receivables

32.2

22.8

Cash flow from operating activities

293.8

302.5

Interest paid

(31.4)

(30.3)

Income taxes paid

(22.4)

(24.3)

Net cash flow from operating activities (A)

240.0

247.9

Investments in tangible fixed assets

(4-3)

(54.3)

(63.9)

Investments in intangible fixed assets

(4-2)

(33.6)

(34.9)

Impact of changes in scope

(8-3)

(26.3)

(23.4)

Sub-total investments

(114.2)

(122.2)

Disposals of fixed assets

8.0

3.1

Repayment of loans and other long-term advances

(0.6)

(1.8)

Net cash flow from investing activities (B)

(106.8)

(120.9)

Parent company capital increase

(13-1)

-

-

Share buyback – liquidity contract

(13-1)

0.3

(0.7)

Dividends paid to shareholders

(58.5)

(58.6)

New medium and long-term borrowings

(11-2)

25.4

219.9

ODIRNANE* interests

(13-2)

(8.9)

(8.9)

Repayment of long-term borrowings

(11-2)

(35.3)

(165.7)

Net cash flow from financing activities (C)

(77.0)

(14.0)

Cumulative translation adjustments on cash and cash equivalents (D)

(1.9)

(15.5)

Change in net cash (A) + (B) + (C) + (D)

54.3

97.5

Net cash – opening

187.8

90.3

Net cash – closing

242.1

187.8

Cash and cash equivalents

245.9

193.0

Bank overdrafts

(3.8)

(5.2)

NET CASH – CLOSING

242.1

187.8

The following notes form an integral part of the financial statements. * ODIRNANE: senior unsecured net share settled undated bond convertible into new shares and/or exchangeable for existing shares

114

REGISTRATION DOCUMENT 2018 / NEOPOST