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FINANCIAL STATEMENTS
6
CONSOLIDATED FINANCIAL STATEMENTS
6.1.4
CONSOLIDATED STATEMENT OF CASH FLOWS
In millions of euros
Notes
2015
2014
Cash flows from operating activities
EBITA including share of profit of equity-accounted investees
57.8
52.0
Depreciation, amortisation and provisions for recurring operating items, net
10.3
9.5
EBITDA
68.1
61.5
Change in operating working capital requirement, of which:
6.0
(2.0)
Change in operating working capital requirement – Trade receivables
0.5
(5.3)
Change in operating working capital requirement – Trade payables
5.0
7.7
Change in operating working capital requirement – Other
0.5
(4.4)
Income tax paid
(9.5)
(12.6)
Other movements
(12.3)
(6.9)
NET CASH GENERATED FROM OPERATING ACTIVITIES
52.3
40.0
Cash flows from investing activities
Acquisitions of property, plant and equipment and intangible assets, net of disposals, of which:
(7.5)
(8.3)
Acquisitions of property, plant and equipment and intangible assets
9
(7.7)
(8.3)
Proceeds from disposals of property, plant and equipment and intangible assets
9
0.2
–
Acquisitions of shares in consolidated companies, net of sales, of which:
(34.0)
(1.9)
Acquisitions of shares in consolidated companies
7
(34.8)
(1.9)
Proceeds from sales of shares in consolidated companies
0.8
–
Loans granted by the Group to non-consolidated companies
13
–
(0.1)
Loans repaid to the Group by non-consolidated companies
13
0.1
0.2
NET CASH USED IN INVESTING ACTIVITIES
(41.4)
(10.1)
Cash flows from financing activities
Net financial income received (expenses paid)
32
3.9
(1.6)
Repayments of borrowings and movements in other financial liabilities
19
(1.7)
(115.5)
Dividends paid to owners of the parent
36
(16.2)
(10.0)
Other movements in equity of the parent company
(6.3)
57.9
Issue of equity instruments
(
*
)
–
158.4
Coupon paid on equity instruments
(
*
)
(7.2)
–
NET CASH GENERATED FROM (USED IN) FINANCING ACTIVITIES
(27.5)
89.2
Net increase (decrease) in cash and cash equivalents
(16.6)
119.1
Net cash and cash equivalents at beginning of year
15
250.5
131.2
Effect of non-monetary items and changes in exchange rates
39
(0.5)
0.2
Net increase (decrease) in cash and cash equivalents
(16.6)
119.1
Net cash and cash equivalents at year-end
15 and 19
233.4
250.5
(*) Odirnane bonds.
The accompanying notes form an integral part of the consolidated financial statements.
ASSYSTEM
FINANCIAL REPORT
2015
76