EURONEXT_Registration_Document_2017

FINANCIAL STATEMENTS

Consolidated Statement of cash flows

6.4 Consolidated Statement of cash flows

NOTE

31 DECEMBER 2017

31 DECEMBER 2016

In thousands of euros

Profit before income tax

311,075

263,975

Adjustments for:  depreciation and amortisation;

10

16,932

15,088

 share based payments;

9

3,782

2,772

 impairment losses;

14

5

-

 gain on disposal of available-for-sale financial assets;

14

(42,225)

-

 share of profit from associates and joint ventures;

(287)

19

 changes in working capital and provisions;

(7,740)

(20,298)

Cash flow from operating activities

281,542

261,556

Income tax paid

(68,434)

(80,429)

Net cash generated by operating activities Cash flow from investing activities Acquisition of associates and joint ventures

213,108

181,127

7

(2,107)

(14,805)

Acquisition of subsidiaries, net of cash acquired

5

(157,343)

-

Purchase of available-for-sale financial assets

19

(9,583)

-

Proceeds from disposal of available-for-sale financial assets

14

1,707

-

Purchase of property, plant and equipment

16

(6,103)

(5,539)

Purchase of intangible assets

17

(17,774)

(9,228)

Proceeds from sale of property, plant and equipment and intangible assets

5

-

Net cash (used in) investing activities

(191,198)

(29,572)

Cash flow from financing activities Proceeds from borrowings, net of transaction fees

25

165,000

-

Repayment of borrowings, net of transaction fees

25

(71,150)

(40,000)

Interest paid

(712)

(1,269)

Interest received

275

278

Dividends paid to the Company’s shareholders

22

(98,809)

(86,210)

Transactions of own shares

22

(986)

(1,427)

Employee Share transactions

(2,142)

-

6

Net cash (used in) financing activities

(8,524) 13,386 174,501

(128,628)

Net (decrease)/increase in cash and cash equivalents

22,927

Cash and cash equivalents - Beginning of year

158,642

Non-cash exchange (losses)/gains on cash and cash equivalents

(102)

(7,068)

CASH AND CASH EQUIVALENTS - END OF YEAR

187,785

174,501

The above Consolidated Statement of cash flows should be read in conjunction with the accompanying notes.

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2017 REGISTRATION DOCUMENT