QUADIENT - 2019 Universal Registration Document

6

FINANCIAL STATEMENTS Consolidated financial statements

6.1.4

CONSOLIDATED STATEMENT OF CASH FLOW

Notes 31 January 2020 31 January 2019

(In million euros)

Net income attributable to shareholders of the parent company

14.1

91.5

Net income attributable to non-controlling interests

1.2

0.1

(9-1)

Expenses (income) with no cash effect

188.1

88.0

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

(0.8)

(1.1)

(13-3)

Income taxes expense (including deferred taxes)

21.4

36.8

Net cost of debt

38.6

31.2

Cash flow before net cost of debt and income taxes

262.6

246.5

(9-2)

Working capital variation

(7.2)

15.1

Increase (decrease) in lease receivables

25.1

32.2

Cash flow from operating activities

280.5

293.8

Interest paid

(37.8)

(31.4)

(8)

Interests paid on lease obligations

(2.6)

-

Income taxes paid

(45.0)

(22.4)

Net cash flow from operating activities (A)

195.1

240.0

(4-3)

Investments in tangible fixed assets

(60.1)

(54.3)

(4-2)

Investments in intangible fixed assets

(35.7)

(33.6)

(8)

Impact of changes in assets right-of-use

(13.5)

-

(9-3)

Impact of changes in scope

(11.9)

(26.3)

Sub-total investments

(121.2)

(114.2)

Disposals of fixed assets

0.5

8.0

Dividends received

1.9

-

Repayment of loans and other long-term advances

0.4

(0.6)

Net cash flow from investing activities (B)

(118.4)

(106.8)

Parent company capital increase

-

-

(14-1)

Share buyback – liquidity contract

0.6

0.3

Dividends paid to shareholders

(18.2)

(58.5)

(9-4)

New medium and long-term borrowings

536.4

25.4

ODIRNANE* interests

(8.9)

(8.9)

(9-4)

Repayment of long-term borrowings

(327.0)

(35.3)

(8)

Repayment of lease obligation

(8.7)

-

Net cash flow from financing activities (C)

174.2

(77.0)

Cumulative translation adjustments on cash and cash equivalents (D)

0.4

(1.9)

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

251.3

54.3

Net cash – opening

242.1

187.8

Net cash – closing

493.4

242.1

Cash and cash equivalents

498.3

245.9

Bank overdrafts

(4.9)

(3.8)

NET CASH – CLOSING

493.4

242.1

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

128

UNIVERSAL REGISTRATION DOCUMENT 2019