7.4
Consolidated cash flow statement
(in thousands of euro)
| notes | 2017 | 2016 | |
| Cash flows from operating activities | |||
| Profit for the period | 10,501 | 32,292 | |
| Adjustments for: | |||
| - Depreciation, amortisation and (reversal of) impairments | 3 | 11,073 | 10,348 |
| - Net finance cost | 5 | 8,209 | 8,273 |
| - Income from equity-accounted investees, net of tax | 11 | -385 | -571 |
| - Equity-settled share-based payment transactions | -71 | -61 | |
| - Gain on sale of property, plant and equipment | 3 | - | -8 |
| - Tax expense | 6 | 19,684 | 20,403 |
| 49,011 | 70,676 | ||
| Change in: | |||
| - Inventories | -25,612 | 13,532 | |
| - Trade and other receivables | 5,058 | -4,766 | |
| - Trade and other payables | 10,212 | 17,390 | |
| - Provisions, employee benefits and deferred revenue | -906 | 7,149 | |
| Cash flows from operations | 37,763 | 103,981 | |
| Interest paid | -6,800 | -9,342 | |
| Taxes paid | -23,449 | -19,162 | |
| Cash from operating activities | 7,514 | 75,477 | |
| Cash flow from investing activities | |||
| Interest received | 622 | 556 | |
| Dividends received | 11 | 99 | 218 |
| Proceeds from sale of property, plant and equipment | 455 | 111 | |
| Acquisition of subsidiaries, net of cash acquired | - | -681 | |
| Acquisition of property, plant and equipment | 8 | -8,770 | -11,598 |
| Acquisition of intangible fixed assets | 10 | -403 | -1,192 |
| Acquisition of other financial fixed assets | -4,072 | -1,597 | |
| Development expenditure | 10 | -382 | -33 |
| Net cash from (used in) investing activities | -12,451 | -14,216 | |
| Free cash flows 1) | -4,937 | 61,261 | |
| Cash flow from financing activities | |||
| Proceeds from interest-bearing loans | 16 | 85,488 | - |
| Repayment of interest-bearing loans | 16 | -45,819 | -12,632 |
| Dividends paid | -6,740 | -8,793 | |
| Proceeds from revolving credit facility | 16 | 100,950 | 49,050 |
| Repayment of revolving credit facility | 16 | -110,000 | -115,000 |
| Net cash from (used in) financing activities | 23,879 | -87,375 | |
| Net increase (decrease) in cash and bank overdrafts | 18,942 | -26,114 | |
| Cash and bank overdrafts at 1 January | 14 | -38,480 | -13,365 |
| Effect of exchange rate fluctuations on cash and bank overdrafts held | -969 | 999 | |
| Cash and bank overdrafts at 31 December | 14 | -20,507 | -38,480 |
| 1) Free cash flows is defined as the balance of net cash from operating activities and net cash used in investment activities. | |||
The figures following the various items refer to the notes