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82
LISI 2015
FINANCIAL DATA
STATEMENT OF CASH FLOWS
(in €'000)
12/31/2015
12/31/2014
restated*
Operating activities
Net earnings
81,859
81,557
Elim. of the income of companies accounted for by the equity method
71
(31)
Elimination of net expenses not affecting cash flows:
- Depreciation and non-recurrent financial provisions
71,284
66,886
- Changes in deferred taxes
10,554
(274)
- Income on disposals, provisions for liabilities and others
(7,140)
(4,490)
Gross cash flow margin
156,628
143,648
Net changes in provisions provided by or used for current operations
(2,476)
(2,757)
Operating cash flow
154,153
140,891
Income tax expense (revenue)
32,187
42,905
Elimination of net borrowing costs
5,133
4,837
Effect of changes in inventory on cash
(18,066)
(8,557)
Effect of changes in accounts receivable and accounts payable
36,455
(4,427)
Net cash provided by or used for operations before tax
209,861
175,649
Tax paid
(53,641)
(34,577)
Cash provided by or used for operations (A)
156,220
141,072
Investment activities
Acquisition of consolidated companies
(47)
(127,735)
Cash acquired
8,841
Acquisition of tangible and intangible fixed assets
(112,803)
(92,548)
Acquisition of financial assets
Change in granted loans and advances
227
(215)
Investment subsidies received
Dividends received
Total cash used for investment activities
(112,623)
(211,657)
Divested cash
Disposal of consolidated companies
Disposal of tangible and intangible fixed assets
1,341
1,923
Disposal of financial assets
Total cash from disposals
1,341
1,923
Cash provided by or used for investment activities (B)
(111,281)
(209,733)
Financing activities
Capital increase
1,838
Net disposal (acquisition) of treasury shares
Dividends paid to shareholders of the Group
(19,467)
(17,820)
Dividends paid to minority interests of consolidated companies
Total cash from equity operations
(19,467)
(15,982)
Issue of non-current loans
9,166
155,307
Issue of current loans
40,926
467
Repayment of non-current loans
(5,301)
(22,903)
Repayment of current loans
(54,354)
(33,105)
Net interest expense paid
(5,134)
(4,837)
Total cash from operations on loans and other financial liabilities
(14,698)
94,928
Cash provided by or used for financing activities (C)
(34,164)
78,947
Effect of change in foreign exchange rates (D)
4,741
5,597
Effect of adjustments in treasury shares (D)
302
(908)
Changes in net cash (A+B+C+D)
15,818
14,975
Cash at January 1
st
(E)
100,751
85,776
Cash at year end (A+B+C+D+E)
116,569
100,751
Cash and cash equivalents
125,812
110,818
Current banking facilities
(9,243)
(10,066)
Closing cash position
116,569
100,751
* 2014 financial statements restated to account for IFRIC 21.