SOMFY - Annual financial report 2019

07 CONSOLIDATED FINANCIAL STATEMENTS

CONSOLIDATED CASH FLOW STATEMENT

€ thousands

Notes

31/12/19 31/12/18

Consolidated net profit

163,209

140,366

Net profit from operations treated in accordance with IFRS 5

–

-2,630

Net profit from continuing operations

163,209 57,739

137,736 48,685

Depreciation and amortisation of assets (excluding current assets)

Charges to/reversals of provisions for liabilities

-379

-106

Unrealised gains and losses related to fair value movements

-14

-9,212 -1,475 4,093 41,985

Unrealised foreign exchange gains and losses

-1,238 4,854 60,963

Income and expenses related to stock options and employee benefits Depreciation, amortisation, provisions and other non-cash items

Profit on disposal of assets and others Share of net profit/(loss) from associates

33

90

-3,845

-1,429

Deferred tax expense

-270

174

Cash flow

220,091

178,556

Cost of net financial debt (excluding non-cash items)

1,995

1,249

Tax expense (excluding deferred tax) Change in working capital requirements

37,439 14,001 -25,774 247,752

29,357 -1,506 -36,551 171,106

(8.3)

Tax paid

NET CASH FLOW FROM OPERATING ACTIVITIES (A) Acquisition-related disbursements: intangible assets and property, plant and equipment –

(8.2)

-54,257

-58,378 -1,465

non-current financial assets –

-514

Disposal-related proceeds: intangible assets and property, plant and equipment –

(8.2)

950

1,035

non-current financial assets – Change in current financial assets

–

1

2,274

4,690 -7,110

Acquisition of companies, net of cash acquired Dividends paid by non-consolidated companies

(8.4)

-870

–

–

Interest received

812

435

NET CASH FLOW FROM INVESTING ACTIVITIES (B)

-51,605

-60,793

Increase in loans

–

171

Repayment of borrowings and lease liabilities Net increase in shareholders’ equity of subsidiaries

-14,868

-1,869

–

1

Dividends and interim dividends paid

-48,094

-44,705

Movement in treasury shares

747

-463

Interest paid

-3,308

-2,294

NET CASH FLOW FROM FINANCING AND CAPITAL ACTIVITIES (C) Net cash flow from operations treated in accordance with IFRS 5 (D) Impact of changes in foreign exchange rates on cash and cash equivalents (E) NET CHANGE IN CASH AND CASH EQUIVALENTS (A + B + C + D + E)

-65,523

-49,158 -20,340

(2.4)

–

2,152

34

132,776 253,413 386,190

40,849 212,564 253,413

CASH AND CASH EQUIVALENTS AT THE START OF THE PERIOD CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD

(8.1) (8.1)

86

SOMFY – ANNUAL FINANCIAL REPORT 2019