SOMFY_ANNUAL_FINANCIAL_REPORT_2017

07 CONSOLIDATED FINANCIAL STATEMENTS

CONSOLIDATED CASH FLOW STATEMENT

€ thousands

Notes

31/12/17 31/12/16*

Consolidated net profit

157,742 43,440

143,297 43,693

Depreciation and amortisation of assets (excluding current assets)

Charges to/reversals of provisions for liabilities

–607 –601 6,359 1,790

–203

Unrealised gains and losses related to fair value movements

263

Unrealised foreign exchange gains and losses

–5,877

Income and expenses related to stock options and employee benefits Depreciation, amortisation, provisions and other non-cash items

3,631

50,381

41,508

Profit on disposal of assets and others Share of net profit/(loss) from associates

1,846

1,523

968

37

Deferred tax expense

–2,831 208,106

–4,673 181,693

Cash flow

Cost of net financial debt (excluding non-cash items)

1,454 5,929

845

Tax expense (excluding deferred tax) Change in working capital requirements

35,956 –27,344 –35,350 155,799

(8.3)

–9,905 –19,562 186,021

Tax paid

NET CASH FLOW FROM OPERATING ACTIVITIES (A) Acquisition-related disbursements: intangible assets and property, plant and equipment –

(8.2)

–65,801 –1,536

–65,579

non-current financial assets –

–591

Disposal-related proceeds: intangible assets and property, plant and equipment –

(8.2)

1,309 9,795

1,053 4,400 1,556

non-current financial assets – Change in current financial assets

687

Acquisition of companies, net of cash acquired Disposal of companies, net of cash disposed Dividends paid by non-consolidated companies

(8.4) (8.4)

– – 8

–4,629

1,205

1

Interest received

387

222

NET CASH FLOW FROM INVESTING ACTIVITIES (B)

–55,152

–62,362

Increase in loans

4,925

–

Reimbursement of loans

–2,113

–23,783

Net increase in shareholders’ equity of subsidiaries

5

5

Dividends and interim dividends paid

–41,909

–39,126

Movement in treasury shares

271

–49

Interest paid

–3,089 –41,911 –2,642 86,316 126,249 212,564

–2,840 –65,793

NET CASH FLOW FROM FINANCING AND CAPITAL ACTIVITIES (C) Impact of changes in foreign exchange rates on cash and cash equivalents (D)

–667

NET CHANGE IN CASH AND CASH EQUIVALENTS (A + B + C + D) CASH AND CASH EQUIVALENTS AT THE START OF THE PERIOD CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD

26,976 99,272 126,249

(8.1) (8.1)

* The financial statements have been restated following the determination of the fair value of Myfox’s assets and liabilities (see note 2.3).

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SOMFY – ANNUAL FINANCIAL REPORT 2017