NEOPOST_REGISTRATION_DOCUMENT_2017

5

Financial statements

Parent company statements of financial position

Parent company statements of cash flow

(In millions of euros)

31 January 2018

31 January 2017

Net income

78.9

280.1

Depreciation and amortization expenses (reversal)

8.7

2.8

Contingency and loss provision (reversal)

11.3

0.3

Gains (losses) on changes in fair value

9.0

0.2

Funds generated from operations

107.9

283.4

(Increase) decrease in accounts receivable

8.0

(15.8)

Increase (decrease) in accounts payable

(4.8)

0.4

(Increase) decrease in other operating payables and receivables

22.7

(157.1)

Cash flow from operating activities (A)

133.8

110.9

Investments in intangible fixed assets

-

-

Investments in tangible fixed assets

(0.5)

(5.1)

Securities acquired and (increase) decrease in loans granted

(31.8)

(18.0)

Sub-total investments

(32.3)

(23.1)

Disposals of fixed assets

-

-

Cash flow from investment activities (B)

(32.3)

(23.1)

Dividends paid

(58.5)

(58.6)

New financial debts

204.7

36.8

Repayment of borrowings

(159.7)

(57.4)

Net change in other debts and accrued interest not yet matured

1.9

0.1

Cash flow from financing activities (C)

(11.6)

(79.1)

Impact of exchange rate changes on cash and cash equivalents (D)

(8.0)

9.4

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

81.9

18.1

Opening cash & cash equivalents

26.4

8.3

CLOSING CASH & CASH EQUIVALENTS

108.3

26.4

The following notes form an integral part of the financial statements.

Change in Neopost S.A. shareholders’ equity

Additional paid-in capital

Number of shares

Share capital

Par value

Reserves

Total

Shareholders’ equity at 31 January 2016

EUR 1 34,562,912

34.6

64.5

22.9

122.0

2015 Dividends – balance payment

-

-

-

(11.6)

(19.4)

(31.0)

2016 Interim dividend payment

-

-

-

-

(27.6)

(27.6)

Net income

-

-

-

-

280.1

280.1

Shareholders’ equity at 31 January 2017

EUR 1 34,562,912

34.6

52.9

256.0

343.5

2016 Dividends – balance payment

-

-

-

-

(31.0)

(31.0)

2017 Interim dividend payment

-

-

-

-

(27.5)

(27.5)

Net income

-

-

-

-

78.9

78.9

SHAREHOLDERS’ EQUITY AT 31 JANUARY 2018

EUR 1 34,562,912

34.6

52.9

276.4 363.9

following notes form an integral part of the financial statements. The

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REGISTRATION DOCUMENT 2017 / NEOPOST