QUADIENT // 2021 Universal Registration Document

6

FINANCIAL STATEMENTS Consolidated financial statements

6.1.4

CONSOLIDATED STATEMENT OF CASH FLOW

Notes 31 January 2022 31 January 2021

(In million euros)

Net income attributable to shareholders of the parent company

87.8

40.4

Net income attributable to non-controlling interests

1.5

1.0

Expenses (income) with no cash effect or with cash effect below operating activities

(8-1)

93.9

132.2

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

(1.1)

(0.9)

(12-3)

Income taxes expense (including deferred taxes)

19.7

23.8

Net cost of debt

24.5

32.7

Cash flow before net cost of debt and income taxes

226.3

229.2

(8-2)

Working capital variation

(7.6)

2.2

(Increase) decrease in lease receivables

38.6

62.0

Cash flow from operating activities

257.3

293.4

Interest paid

(24.9)

(24.3)

(7)

Interests paid on lease obligations

(2.2)

(2.4)

Income taxes paid

(38.3)

(10.5)

Net cash flow from operating activities (A)

191.9

256.2

(4-3)

Investments in tangible fixed assets

(36.5)

(37.6)

(4-2)

Investments in intangible fixed assets

(41.3)

(34.2)

(7)

Impact of changes in assets right-of-use

(10.1)

(17.8)

(8-3)

Impact of changes in scope

(61.2)

(8.9)

Sub-total investments

(149.1)

(98.5)

Disposals of fixed assets

1.0

0.2

Income received from investments

9.1

1.4

Repayment of loans and other long-term advances

(0.8)

(0.9)

Net cash flow from investing activities (B)

(139.8)

(97.8)

Parent company capital increase

-

-

(13-1)

Share buyback – liquidity contract

(2.7)

(1.2)

Dividends paid to shareholders

(17.2)

(12.0)

(8-4)

New medium and long-term borrowings

198.8

48.4

ODIRNANE* interests

(8.9)

(8.9)

(8-4)

Repayment of long-term borrowings

(229.8)

(153.9)

(7)

Variation of lease obligation debts

(10.5)

(3.5)

Net cash flow from financing activities (C)

(70.3)

(131.1)

Cumulative translation adjustments on cash and cash equivalents (D)

(9.5)

(11.8)

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

(27.7)

15.5

Net cash – opening

508.9

493.4

Net cash – closing

481.2

508.9

Cash and cash equivalents

486.6

513.7

Bank overdrafts

(5.4)

(4.8)

NET CASH – CLOSING

481.2

508.9

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.

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UNIVERSAL REGISTRATION DOCUMENT 2021