RUBIS_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS 9

2017 consolidated financial statements and notes

CONSOLIDATED STATEMENT OF CASH FLOWS

Note

12/31/2016

12/31/2017

(in thousands of euros)

TOTAL CONSOLIDATED NET INCOME FROM CONTINUING OPERATIONS

282,838

227,377

NET INCOME FROM DISCONTINUED OPERATIONS Adjustments: Elimination of income of joint ventures

(3,260) 123,105

(6,798) 110,951 (3,820) (1,286) 326,153 64,320 13,173 403,646 (18,288) (74,033) 311,325 (272)

Elimination of depreciation and provisions

Elimination of profit and loss from disposals and dilution

1,807 (271)

Elimination of dividend earnings

Other income and expenditure with no impact on cash and cash equivalents (1)

(7,154) 397,065 79,437 14,331 490,833 (70,757) (92,254) 327,822 67,932 (495,179) (17,614)

CASH FLOW AFTER COST OF NET FINANCIAL DEBT AND TAX

Elimination of tax expenses

Elimination of cost of net financial debt

CASH FLOW BEFORE COST OF NET FINANCIAL DEBT AND TAX

Impact of change in WCR*

Tax paid

CASH FLOW RELATED TO OPERATIONS

Impact of changes to consolidation scope (cash acquired – cash disposed) Acquisition of financial assets: Rubis Énergie division (2) Acquisition of financial assets: Rubis Terminal division (3) Disposal of financial assets: Rubis Support and Services division (4)

833

(16,131)

1,305

Disposal of financial assets: Rubis Énergie division

15,783

Acquisition of property, plant and equipment and intangible assets

(205,717)

(162,545)

Change in loans and advances granted

28,630

(6,079)

Disposal of property, plant and equipment and intangible assets

5,136

2,800 (203)

(Acquisition)/disposal of other financial assets

(26,351)

Dividends received

271

272

Other cash flow from financing operations CASH FLOW RELATED TO INVESTMENT ACTIVITIES

(641,587) 116,240

(165,270) 127,967

Capital increase

4.8

(Acquisition)/disposal of treasury shares

209

2

Borrowings issued Borrowings repaid Net interest paid Dividends payable

4.10.1 4.10.1

773,100 (378,582) (13,113) (133,009) (15,098)

237,175 (291631) (13,272) (124,900) (11,040) (38,256)

Dividends payable to non-controlling interests Acquisition of financial assets: Rubis Énergie division Disposal of financial assets: Rubis Énergie division Acquisition of financial assets: Rubis Terminal division (5) Disposal of financial assets: Rubis Terminal division (6) Other cash flows from financing operations CASH FLOWS RELATED TO FINANCING ACTIVITIES

12,392

(10,097)

1,997

(2)

(585)

341,645 (36,230)

(102,147)

Impact of exchange rate changes

3,289

Impact of change in accounting principles CHANGE IN CASH AND CASH EQUIVALENTS Cash flow from continuing operations Opening cash and cash equivalents (7)

(8,350)

47,196

4.5.5

833,652 (8,350) 825,302

786,456 47,196 833,652

Change in cash and cash equivalents Closing cash and cash equivalents (7)

4.5.5

Financial liabilities

4.10.1

(1,511,930)

(1,061,338)

Cash and cash equivalents net of financial debt

(686,628)

(227,686)

* Breakdown of the impact of change in working capital: Impact of change in inventories and work in progress Impact of change in trade and other receivables

4.7

(11.168) (67,060)

2017 Registration Document I RUBIS 184

4.5.4

Impact of change in trade and other payables

4.10.4

7,471

Impact of change in working capital

(70,757)

(1) Including change in fair value of financial instruments, goodwill (impairment, badwill ), etc. The impacts from changes to the consolidation scope are described in note 3. (2) Purchase of petroleum products distribution businesses in Haiti and Madagascar. (3) Purchase of the additional 50% of the storage activities in Turkey.

(4) Disposal of a bitumen division services company. (5) Purchase of 21.5% of Dépôt Pétrolier de La Corse. (6) Equity position taken by minority investor in Rubis Terminal Dunkerque. (7) Cash and cash equivalents net of bank overdrafts.