Consolidated cash flow statement for 2016

(in millions of euros)

2016

2015

 

Result for the period

212

118

 

Adjustments for:

  
 

Income tax expenses

49

26

 

Results on investments in equity accounted investees

-142

-70

11,13

Depreciation

319

330

 

Impairment losses and reverals

26

-

 

Net finance result

9

23

 

Change in provisions

-54

16

15, 16

Change in non current financial assets (including deferred tax positions)

192

-100

 

Change in other non cash, non-current liabilities

55

75

 

Change in deferred credits

-23

151

  

431

451

    
 

Change in inventories

-1

-19

 

Change in trade and other receivables

-171

-160

 

Change in current liabilities excluding credit institutions

459

79

 

Changes working capital

287

-100

    
 

Interest paid

-28

-25

 

Income tax paid

-11

-3

  

-39

-28

    
 

Net cash from operating activities

891

441

    
 

Interest received

20

9

14

Dividends received and recognised using the equity method

72

47

 

Disposal of discontinued operation, net of cash

-

-

11, 13

Acquisition of intangible assets and property, plant and equipment

-784

-532

12

Acquisition of investment properties

-1

-8

 

Receipts (payments) other investments

270

-47

 

Acquisition of non-current financial assets, including investments

-23

-48

14, 15

Disposal of non-current financial assets, including investments

239

58

11, 13

Disposal of intangible assets, property, plant and equipment and investment properties

23

12

    
 

Net cash flow from investing activities

-184

-509

    
 

Net cash flow from operating and investing activities

707

-68

    
 

Repayments of liabilities

-899

-57

 

Non-current liabilities taken out

300

58

 

Dividends paid

-41

-48

    
 

Net cash from financing activities

-640

-47

    
 

Net increase in cash and cash equivalents

67

-115

 

Cash and cash equivalents as at 1 January

671

775

 

Effect of exchange rate fluctuations on cash held

5

11

 

Cash and cash equivalents classified as held for sale

-34

-

 

Cash and cash equivalents as at 31 December

709

671