Compagnie des Alpes - 2017 Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

Note 7

Information on the statement of cash flows

7.1

CASH FLOWS FROM OPERATING ACTIVITIES

30/09/2017

30/09/2016

(in thousands of euros)

Net income (Group share)

31,320

33,436

Minority interests in net income COMPREHENSIVE NET INCOME

8,581

6,887

39,901 131,677

40,322 116,612

Amortisation, depreciation and provision increases and reversals

Gains or losses on disposal

6,272

-540

Share of net income of associate companies Dividends received from associate companies

-4,699

-4,775

2,550

2,150

Other

-6,628

858

OPERATING CASH FLOW AFTER NET FINANCIAL DEBTT AND TAX

169,074

154,627

Net cost of debt

16,140 21,665

16,024 18,210

Tax expense (including deferred taxes)

OPERATING CASH FLOW BEFORE NET FINANCIAL DEBT AND TAX

206,879

188,860 16,379 -3,439 -16,129 185,672

Change in accounts receivables and payables Other elements of cash timing differences

-617 1,718

Tax paid

-25,432 182,548

CASH FLOWS FROM OPERATING ACTIVITIES

Details on the net income of equity affiliates can be found in Note 5.6, with commentary on the net financial debt in Note 5.4.

7.2 ACQUISITIONS OF PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS

Notes

30/09/2017

30/09/2016

(in thousands of euros)

Acquisition of intangible assets

6.2 6.3

6,663

8,240

Acquisitions of property, plant and equipment (net of subsidies)

164,641 171,304

149,877 158,116

ACQUISITIONS OF PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS

Changes in debt on non-current assets

-8,814

855

ACQUISITIONS OF PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS IN THE STATEMENT OF CASH FLOWS

162,490

158,972

Sale price of intangible assets

-200

-

Sale price of property, plant and equipment Receivables associated with asset disposals

-2,315

-5,627

46

261

DISPOSAL OF NON-CURRENT ASSETS IN THE STATEMENT OF CASH FLOWS

-2,469

-5,366

The breakdown of capital expenditure over the fiscal year is discussed in Notes 6.2 and 6.3.

7.3

CHANGE IN FINANCIAL DEBT

30/09/2017

30/09/2016

(in thousands of euros)

FINANCIAL DEBT IN THE CONSOLIDATED BALANCE SHEET FROM THE PREVIOUS FISCAL YEAR

405,091

400,727

P borrowings from credit institutions

61,428

3,085 2,652

P lease finance

-480

P other borrowings and similar debt

174 -24

-522

P others

70

CHANGE IN BORROWINGS IN THE STATEMENT OF CASH FLOWS

61,098 -38,970

5,285

Change in the bank credit balances

-835

Miscellaneous

97

-19

TOTAL CHANGE (ALL BORROWINGS) Miscellaneous (financial instruments)

22,158

4,431

-

-67

BORROWINGS IN THE CONSOLIDATED BALANCE SHEET FROM THE FISCAL YEAR

427,316

405,091

130

Compagnie des Alpes I 2017 Registration Document