technicolor - 2019 Universal registration document

6 FINANCIAL STATEMENTS

TECHNICOLOR 2019 CONSOLIDATED FINANCIAL STATEMENTS

Consolidated statement of cash flows 6.1.4

December 31, 2019

Note

2018

(in million euros)

Net income (loss)

(230)

(67) 157

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

(22)

(208)

(224)

Summary adjustments to reconcile profit from continuing activities to cash generated from continuing operations Depreciation and amortization (1)

322

234

Impairment of assets

63

91

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

(48)

(14)

17

(8) 40 50

(8.5)

69

Other non-cash items (including tax)

-

Changes in working capital and other assets and liabilities (1)

(69) 146 (21) (44)

2

Cash generated from continuing activities

171 (2)

Interest paid on lease debt

Interest paid

(40)

Interest received Income tax paid

1

3

(12)

(14)

NET OPERATING CASH GENERATED FROM CONTINUING ACTIVITIES (I)

70 (3)

118

Acquisition of subsidiaries, associates and investments, net of cash acquired

(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

1

5

(70)

(68)

-

-

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 NET INVESTING CASH USED IN CONTINUING ACTIVITIES (II)

(99)

(94)

(6)

(3)

5

3

(171)

(156)

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

1 1

- -

Disposal of treasury shares Proceeds from borrowings Repayments of lease debt Repayments of borrowings

(91)

(23) (93)

(5) (1)

Fees paid linked to the debt and capital operations

(3) 23

Other

4

NET FINANCING CASH USED IN CONTINUING ACTIVITIES (III)

(91) (33) 291

(96) 105 319 (29)

NET CASH FROM DISCONTINUED ACTIVITIES (IV)

(12.1)

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 Cash and cash equivalents at the end of the year

(226)

-

1

65 291 the segment reporting information prepared according IFRS 8, the Free cash flow and the adjusted EBITDA are restated from the IT capacity use for rendering in Production In Services. If such restatement was considered for the Cash flow statement, depreciation and amortization would amount to €356 million, and changes in working capital and other assets and liabilities would amount to €(96) million.

The accompanying notes on pages 202 to 262 are an integral part of these consolidated financial statements.

TECHNICOLOR UNIVERSAL REGISTRATION DOCUMENT 2019 200