Consolidated Cash Flow statement

Annual evolution

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Thousands of euros 2011 2012 2013 2014 2015 2016
Operating activities            
Consolidated net income 46,290 42,008 (6,547) 16,065 11,873 14,040
Minority shareholders (30) 66 19 (1) (6)  
Taxation for the period 32,312 25,787 36,794 10,450 8,236 11,463
Amortisation/depreciation of property, plant and equipment 35,219 37,001 38,409 41,419 45,523 44,797
Amortisation of intangible assets 59,794 42,620 44,706 47,934 59,491 63,662
Non-monetary costs for stock options 771 685        
Allocations for risks and retirement funds and employee benefits 21,134 23,004 17,875 17,453 17,032 18,038
Write-downs / (Revaluations) (1,192) 1,493 4,829 (1,969) 2,470 2,627
Losses / (Gains) on the disposal of property, plant and equipment (6,012) (418) (164) 32   (2,267)
Financial income (3,910) (1,522) (1,473) (905) (877) (1,023)
Dividend income (193) (15) (154) (5) (130) (24)
Financial charges 25,558 28,904 32,339 41,044 36,751 34,536
Income from public grants (3,492) (2,316) (4,751) (2,823) (3,847) (3,880)
Results from associates   (3,515) (2,110) 113 (141) (564)
Change in working capital:            
(Increase)/Decrease in trade receivables 24,861 2,453 (11,296) 3,383 (4,957) 6,658
of wich related parties     82 8 (294) (2,200)
(Increase)/Decrease in other receivables (18,740) (7,889) 13,680 (10,040) 8,113 6,004
of wich related parties     (411) (2,244) 605 146
(Increase)/Decrease in inventories 3,078 15,902 13,278 (24,590) 19,586 4,353
Increase/(Decrease) in trade payables 22,783 17,654 (46,988) 40,124 5,925 15,286
of wich related parties     (6,178) 4,376 (5,472) (173)
Increase/(Decrease) in other payables 8,636 (13,898) (7,204) 3,229 26 1,281
of wich related parties     6,287 1,923 269 182
Increase/(Decrease) in provisions for risks (21,782) (14,370) (12,934) (15,495) (9,913) (9,914)
Increase/(Decrease) in retirement funds and employee benefits (20,795) (4,814) (9,352) (2,851) (14,613) (8,688)
Other changes 6,021 6,336 (15,509) (38,193) 16,230 (11,936)
Cash generating by operating activities 210,311 195,156 83,447 124,374 185,031 184,449
Interest paid (22,825) (28,848) (30,727) (36,180) (32,790) (32,355)
Taxation paid (31,862) (32,066) (16,600) (21,832) (23,400) (25,114)
Cash flow from operating activities (A) 155,624 134,242 36,120 66,362 128,841 126,980
             
Investment activity            
Investment in property, plant and equipment (61,790) (78,392) (38,845) (36,628) (38,062) (38,247)
Sale price, or redemption value, of property, plant and equipment 6,542 955 1,287 833 581 2,552
Investment in intangible assets (64,300) (59,574) (48,758) (58,265) (63,828) (58,426)
Acquisition Tecnocontrol   (11,323)        
Sale price, or redemption value, of intangible assets 122 40 219 59 56  
Purchase of financial assets   (1,263) (838)      
Sale price of financial assets 23,051 5 1,260 915 47 3
Collected interests 11,666 981 994 528 749 581
Cash flow of investment activities (B) (84,709) (148,571) (84,681) (92,558) (100,457) (93,537)
             
Financing activities            
Exercise of stock option 2,843   274 5,076    
Exercise of stock option with sale of own shares     532 245    
Purchase of own shares (9,080) (9,152) (1,003) (3,787) (34) (5,612)
Outflow for dividends paid (25,684) (29,877) (33,087)   (26,007) (17,962)
Loans received 71,400 114,835 111,609 207,973 58,130 133,674
Outflow for repayment of loans (112,727) (128,245) (52,977) (134,683) (49,270) (66,194)
Finance leases received 227     267   12,839
Repayment of finance leases (850) (894) (936) (5,835) (31) (1,601)
Cash flow from financing (C) (73,871) (53,333) 24,412 69,256 (17,212) 55,144
             
Increase / (Decrease) in liquid funds (A+B+C) (2,956) (67,662) (24,149) 43,060 11,172 88,587
             
Opening balance 154,758 151,802 84,140 52,816 90,125 101,302
Exchange differences     (7,175) (5,751) 5 1,511
Closing balance 151,802 84,140 52,816 90,125 101,302 191,400
 

Quarterly evolution

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In thousands of euros  2015 2016 2017
  FY 1Q 1H 9M FY 1Q 1H 9M
Operating activities              
Consolidated net profit 11,873 1,256 18,011 19,157 14,040 1,481 21,142 25,135
Allocation of profit to non-controlling interests (6)              
Taxation for the period 8,236 837 12,008 14,453 11,463 987 15,310 18,963
Depreciation of property, plant and equipment 45,523 11,301 23,145 33,484 44,797 11,573 23,500 33,798
Amortisation of intangible assets 59,491 15,211 30,565 47,551 63,662 18,676 37,503 56,111
Allocations for risks and retirement funds and employee benefits 17,032 3,924 9,321 13,797   4,478 9,883 14,253
Write-downs / (Revaluations) 2,470 241 514 852 18,038 235 775 1,879
Losses / (Gains) on the disposal of property, plants and equipment   (35) (74) (93) 2,627 (6) (77) (81)
Losses / (Gains) on sale of intangible assets   (17)     (2,267)   (2)  
Financial income (877) (266) (499) (733) (1,023) (183) (343) (591)
Dividend income (130) (7) (7) (7) (24)     (11)
Borrowing costs 36,751 8,491 16,927 25,471 34,536 8,470 16,610 24,771
Income from public grants (3,847) (541) (2,078) (2,970) (3,880) (957) (1,843) (2,647)
Results form associates (141)   (697) (480) (564) (352) (637) (778)
Change in working capital:                
(Increase)/Decrease in trade receivables (4,957) (28,035) (39,828) (14,224) 6,658 (26,671) (51,195) (27,573)
of wich related parties (294) 133   19 (2,200) 1,312   1,399
(Increase)/Decrease other receivables  8,113 232 3,856 4,373 6,004 235 1,913 3,404
of wich related parties 605 (77)   (218) 146 (924)   (380)
(Increase)/Decrease in inventories 19,586 (45,683) (44,191) (23,451) 4,353 (48,599) (42,707) (29,270)
Increase/(Decrease) in trade payables 5,925 33,642 104,001 65,961 15,286 27,255 96,364 60,896
of wich related parties (5,472) (1,271)   2,827 (173) 2,533   4,479
(Increase)/Decrease other payables 26 3,762 7,545 9,106 1,281 1,328 7,797 5,860
of wich related parties 269 (30)   972 182 40   78
Increase/(Decrease) in provisions for risks (9,913) (1,965) (5,114) (7,869) (9,914) (1,922) (4,721) (6,955)
Increase/(Decrease) in retirement funds and employee benefits (14,613) 614 83 (1,723) (8,688) (3,679) (7,208) (9,139)
Other changes 16,230 (19,925) (18,900) (24,980) (11,936) (7,173) (861) 2,533
Cash generating by operating activities 185,031 (16,963) 114,588 157,675 184,449 (14,824) 121,203 170,558
Interest paid (32,790) (4,909) (15,967) (21,704) (32,355) (6,296) (15,428) (21,904)
Taxation paid (23,400) (5,137) (9,941) (16,935) (25,114) (2,829) (6,704) (12,346)
Cash flow from operating activities (A) 128,841 (27,009) 88,680 119,036 126,980 (23,949) 99,071 136,308
                 
Investment activity                
Investment in property, plant and equipment (38,062) (12,491) (19,871) (26,912) (38,247) (5,832) (12,109) (16,831)
Sale price, or repayment value, of property, plant and equipment  581 95 192 224 2,552 49 160 172
Investment in intangible assets (63,828) (13,753) (27,100) (38,767) (58,426) (12,437) (26,661) (38,817)
Sale price, or repayment value, of intangible assets 56 17         467 456
Writedown of equity investments                
Purchase of financial assets                
Sale price of financial assets 47       3      
Dividends from equity investments               11
Collected interests 749 155 307 359 581 162 399 658
Cash flow from investment activities (B) (100,457) (25,977) (46,472) (65,096) (93,537) (18,058) (37,744) (54,351)
                 
Financing activities                
Exercise of stock option                
Exercise of stock option with sale of own shares                
Purchase of own shares (34) (3,671) (4,980) (5,565) (5,612)      
Outflow for dividends paid (26,007)   (17,962) (17,962) (17,962)   (19,698) (19,698)
Loans received 58,130 64,079 77,723 72,050 133,674 42,488 80,484 55,090
Outflow for repayment of loans (49,270) (15,553) (45,815) (65,398) (66,194) (57,564) (84,933) (119,734)
Finance leases received       12,839 12,839      
Repayment of finance leases (31) (7) (15) (1,307) (1,601) (279) (561) (842)
Cash flow from funding activities (C) (17,212) 44,848 8,951 (5,343) 55,144 (15,355) (24,708) (85,184)
                 
Increase / (Decrease) in liquid funds (A+B+C) 11,172 (8,138) 51,159 48,597 88,587 (57,362) 36,619 (12,235)
                 
Opening balance 90,125 101,302 1,302 101,302 101,302 191,400 191,400 191,400
Exchange differences 5 (1,865) (1,182) (1,130) 1,511 560 (5,354) (9,008)
Closing balance 101,302 91,299 151,279 148,769 191,400 134,598 222,665 179,165
 

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Last update: 11/16/2017 14:49