technicolor - 2018 Registration document

6 FINANCIAL STATEMENTS

TECHNICOLOR 2018 CONSOLIDATED FINANCIAL STATEMENTS

Consolidated statement of cash flows 6.1.4

December 31, 2018

2017* (173)

Note

(in million euros)

Net income (loss)

(67) 157

Income (loss) from discontinuing activities Profit (loss) from continuing activities

(5)

(224)

(168)

Summary adjustments to reconcile profit from continuing activities to cash generated from continuing operations Depreciation and amortization

234

240

Impairment of assets

91

9

Net changes in provisions Gain (loss) on asset disposals Interest (income) and expense

(14)

(37)

(8) 40 50

(1) 43

(8.5)

Other non-cash items (including tax)

155

Changes in working capital and other assets and liabilities

2

71

Cash generated from continuing activities

171

312 (46)

Interest paid

(42)

Interest received Income tax paid

3

2

(14)

(13)

NET OPERATING CASH GENERATED FROM CONTINUING ACTIVITIES (I) Acquisition of subsidiaries, associates and investments, net of cash acquired

118

255 (25)

(11.1) (11.1)

1

Proceeds from sale of investments, net of cash Purchases of property, plant and equipment (PPE) Proceeds from sale of PPE and intangible assets

5

10

(68)

(51)

-

1

Purchases of intangible assets including capitalization of development costs Cash collateral and security deposits granted to third parties Cash collateral and security deposits reimbursed by third parties

(94)

(95)

(3)

(1)

3

9

Loans (granted to)/reimbursed by third parties

-

1

NET INVESTING CASH USED IN CONTINUING ACTIVITIES (II)

(156)

(151)

Increase of Capital

(11.2) (11.2) (11.2) (11.2)

- -

1

Proceeds from borrowings Repayments of borrowings Fees paid linked to the debt

646

(116)

(616)

(3)

(3)

Dividends and distributions paid to Group’s shareholders

-

(25) (32) (29) (88) 371 (13) (39) 319

Other

23

NET FINANCING CASH USED IN CONTINUING ACTIVITIES (III)

(96) 105 319 (29)

NET CASH FROM DISCONTINUED ACTIVITIES (IV)

(12.2)

CASH AND CASH EQUIVALENTS AT THE BEGINING OF THE YEAR

Net decrease in cash and cash equivalents (I+II+III+IV) Exchange gains/(losses) on cash and cash equivalents

1

CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 2017 amounts are re-presented to reflect the impacts of Discontinued Operations (see note 12). *

291

The accompanying notes on pages 178 to 246 are an integral part of these consolidated financial statements.

176

TECHNICOLOR REGISTRATION DOCUMENT 2018