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9.2 Situation and activities of the company and its subsidiaries by business segment during the year
OPERATING AND FINANCIAL REVIEW
09
9.2.6.5.
CONSOLIDATED STATEMENT OF CASH FLOWS
The condensed consolidated statement of cash flows is presented below.
(in millions of euros)
2016
2015
Change
2016/2015
Cash flow from operations before interest and taxes
(693)
(643)
-50
Interest expense and taxes paid
(2)
89
-91
Cash flow from operations after interest and taxes
(695)
(554)
-141
Change in working capital requirement
100
111
-11
Cash from operating activities
(595)
(442)
-153
Cash related to investing activities
25
(64)
+89
Cash related to financing activities
1,207
(758)
+1,965
Cash from operations sold, discontinued or held for sale
(597)
419
-1,016
INCREASE (DECREASE) IN NET CASH
41
(811)
852
Net cash at the beginning of the period
745
1,556
-811
NET CASH AT THE END OF THE YEAR
786
745
41
The table below presents the statement of cash flows of operations sold, discontinued or held for sale:
(in millions of euros)
Operations
sold
Discontinued
operation
Operations held for sale
2016
2015
Solar Energy New NP NewCo AREVA TA
Total
Total
Net cash flow from operating activities
(55)
(95)
35
720
30
634
899
Net cash flow from investing activities
306
1
(142)
(543)
(10)
(390)
(916)
Net cash flow from financing activities
(10)
(84)
(115)
(729)
61
(878)
463
Other changes
(1)
(11)
70
(22)
-
36
(26)
CHANGE IN NET CASH
240
(189)
(152)
(575)
80
(597)
419
CASH FROM OPERATING ACTIVITIES
Net cash flow
related to
operating activities went from -442 million euros in 2015
to -595 million euros in 2016. This change is due to the decrease in cash provided
by operations associated with the increase in interest paid.
CASH RELATED TO INVESTING ACTIVITIES
Net cash flow from investing activities totaled 25 million euros in 2016, compared
with -64 million euros in 2015.
CASH RELATED TO FINANCING ACTIVITIES
Net cash flow from financing activities totaled 1.207 billion euros in 2016, compared
with -758 million euros in 2015. This change is explained in particular by the draws
on bilateral lines of credit and the RCF on January 5 and 6, 2016 in the total amount
of 2.045 billion euros.
9.2.6.4.
CASH FLOWS RELATED TO END-OF-LIFECYCLE
OPERATIONS
The majority of end-of-lifecycle operations concern operations included in the
consolidation scope of New AREVA Holding (Mining, Chemistry-Enrichment, Back
End) and to a lesser extent that of AREVA NP. At December 31, 2016, the flows
relating to these operations were recognized on specific lines of the statement of
income, the statement of cash flows and the statement of financial position devoted
to “operations sold, discontinued or held for sale”.
In 2016, the flows related to the end-of-lifecycle operations of operations “sold,
discontinued or held for sale” amounted to -33 million euros (see 9.2.2).
2016 AREVA
REFERENCE DOCUMENT
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