Econocom - 2019 Universal registration document

06 consolidated financial statements

notes to the consolidated financial statements

Reclassif. of assets /Liabilities held for sale

Change in working capital in 2019

Other changes (1)

31 ژ Dec. 2018

31 ژ Dec. 2019

Notes

in € ڳ millions

Trade and other operating payables Other changes in working capital requirement (4)

(1,562.4)

49.0

57.8 74.5 (1,381.0)

ژ

11.6

ژ 4.6

ژ 16.2

ژ

Total change in working capital requirements

ژ

-

(15.3)

-

-

Mainly corresponding to changes in the scope of consolidation and in fair value, and translation adjustments. (1) Changes in the residual interest in leased assets are shown in cash flows from operating activities. (2) Corresponding to changes in residual financial assets excluding the currency effect and discounting in the period. (3) Change in deferred tax assets relates to the additional tax depreciation in Italy which is considered a working (4) capital requirement item, whereas tax revenue is considered as recurring operating profit.

Breakdown of net cash from (used in) in investing 18.2. activities

Net cash used in investing activities totalled -€27.1 million, primarily reflecting: cash outflows of €23 million resulting • from investments in property, plant and equipment and intangible assets relating

to the Group’s IT infrastructure and applications (see note ژ 10); net cash outflows of €0.7 million linked to • the payments of earnouts and deferred debt and inflows following the disposal of Rayonnance and Jade.

Breakdown of net cash from (used in) in financing 18.3. activities

Net cash from financing activities • amounted to -€118 million, mainly reflecting: cash outflows of €26 million relating to • net treasury share buybacks; cash outflows of €27.5 million relating to • payments made to shareholders during the ژ year (refund of issue premiums); net cash outflows of €6.9 million • corresponding to the decrease in refinancing liabilities on lease contracts and liabilities on self-funded contracts;

outflows of €40.9 million in repayments of • financial debts; net cash inflows of €23.6 million following • the issue of commercial paper; €26.9 million of outflows relating to IFRS • 16 restatements; interest payments totalling €16 million in • the ژ year (including coupon payments on Schuldschein and Euro PP bonds).

240 2019 annual report