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
  9M FY 1Q 1H 9M FY 1Q 1H
Operating activities                
Consolidated net profit 18,307 11,873 1,256 18,011 19,157 14,040 1,481 21,142
Allocation of profit to non-controlling interests 8 (6)            
Taxation for the period 12,210 8,236 837 12,008 14,453 11,463 987 15,310
Depreciation of property, plant and equipment 34,635 45,523 11,301 23,145 33,484 44,797 11,573 23,500
Amortisation of intangible assets 42,973 59,491 15,211 30,565 47,551 63,662 18,676 37,503
Allocations for risks and retirement funds and employee benefits 13,881 17,032 3,924 9,321 13,797   4,478 9,883
Write-downs / (Revaluations) 1,009 2,470 241 514 852 18,038 235 775
Losses / (Gains) on the disposal of property, plants and equipment (153)   (35) (74) (93) 2,627 (6) (77)
Losses / (Gains) on sale of intangible assets     (17)     (2,267)   (2)
Financial income (563) (877) (266) (499) (733) (1,023) (183) (343)
Dividend income   (130) (7) (7) (7) (24)    
Borrowing costs 27,905 36,751 8,491 16,927 25,471 34,536 8,470 16,610
Income from public grants (2,474) (3,847) (541) (2,078) (2,970) (3,880) (957) (1,843)
Results form associates (281) (141)   (697) (480) (564) (352) (637)
Change in working capital:                
(Increase)/Decrease in trade receivables (37,173) (4,957) (28,035) (39,828) (14,224) 6,658 (26,671) (51,195)
of wich related parties   (294) 133   19 (2,200) 1,312  
(Increase)/Decrease other receivables  6,182 8,113 232 3,856 4,373 6,004 235 1,913
of wich related parties   605 (77)   (218) 146 (924)  
(Increase)/Decrease in inventories 699 19,586 (45,683) (44,191) (23,451) 4,353 (48,599) (42,707)
Increase/(Decrease) in trade payables 23,172 5,925 33,642 104,001 65,961 15,286 27,255 96,364
of wich related parties   (5,472) (1,271)   2,827 (173) 2,533  
(Increase)/Decrease other payables 7,712 26 3,762 7,545 8,973 1,281 1,328 7,797
of wich related parties   269 (30)   839 182 40  
Increase/(Decrease) in provisions for risks (8,055) (9,913) (1,965) (5,114) (7,869) (9,914) (1,922) (4,721)
Increase/(Decrease) in retirement funds and employee benefits (10,676) (14,613) 614 83 (1,723) (8,688) (3,679) (7,208)
Other changes 1,105 16,230 (19,925) (18,900) (30,782) (11,936) (7,173) (861)
Cash generating by operating activities 130,423 185,031 (16,963) 114,588 151,740 184,449 (14,824) 121,203
Interest paid (24,761) (32,790) (4,909) (15,967) (15,769) (32,355) (6,296) (15,428)
Taxation paid (14,990) (23,400) (5,137) (9,941) (16,935) (25,114) (2,829) (6,704)
Cash flow from operating activities (A) 90,672 128,841 (27,009) 88,680 119,036 126,980 (23,949) 99,071
                 
Investment activity                
Investment in property, plant and equipment (24,937) (38,062) (12,491) (19,871) (26,912) (38,247) (5,832) (12,109)
Sale price, or repayment value, of property, plant and equipment  415 581 95 192 224 2,552 49 160
Investment in intangible assets (43,253) (63,828) (13,753) (27,100) (38,767) (58,426) (12,437) (26,661)
Sale price, or repayment value, of intangible assets 44 56 17         467
Writedown of equity investments                
Purchase of financial assets                
Sale price of financial assets   47       3    
Collected interests 346 749 155 307 359 581 162 399
Cash flow from investment activities (B) (67,385) (100,457) (25,977) (46,472) (65,096) (93,537) (18,058) (37,744)
                 
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) (26,007)   (17,962) (17,962) (17,962)   (19,698)
Loans received 84,458 58,130 64,079 77,723 72,050 133,674 42,488 80,484
Outflow for repayment of loans (68,190) (49,270) (15,553) (45,815) (65,398) (66,194) (57,564) (84,933)
Finance leases received         12,839 12,839    
Repayment of finance leases (23) (31) (7) (15) (1,307) (1,601) (279) (561)
Cash flow from funding activities (C) (9,762) (17,212) 44,848 8,951 (5,343) 55,144 (15,355) (24,708)
                 
Increase / (Decrease) in liquid funds (A+B+C) 13,525 11,172 (8,138) 51,159 48,597 88,587 (57,362) 36,619
                 
Opening balance 90,125 90,125 101,302 1,302 101,302 101,302 191,400 191,400
Exchange differences 2,095 5 (1,865) (1,182) (1,130) 1,511 560 (5,354)
Closing balance 105,745 101,302 91,299 151,279 148,769 191,400 134,598 222,665
 

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Last update: 09/04/2017 13:55