Consolidated Financial Statements of the F.I.L.A. Group
Separate Financial Statements of F.I.L.A. S.p.A.
58
Consolidated Statement of Cash Flows
Euro thousands
December 31, 2016
December 31, 2015
EBIT
41,086
33,999
Adjustments for non-cash items:
16,772
9,695
Amortisation & Depreciation
Note 1 - 2
14,910
6,792
Write-down and Recovery in Value
Note 1 - 2
10
3
Doubtful Debt Provision
Note 9
819
985
Exch. effect on Assets and Liabilities in Foreign Curr. of Commercial Transactions
Note 24
1,083
1,960
Gain/Loss on Fixed Asset Disposals
Note 21 - 24
(49)
(46)
Integrations for:
(11,901)
(18,736)
Income Taxes Paid
Note 7 - 18
(11,987)
(15,522)
Unrealised Exchange Differences on Assets and Liabilities in Foreign Currencies
Note 28 - 29
3,871
(2,053)
Realised Exchange Differences on Assets and Liabilities in Foreign Currencies
Note 28 - 29
(3,785)
(1,161)
Cash Flow from Operating Activities Before Changes in NWC
45,957
24,957
Changes in Net Working Capital:
(4,260)
(24,665)
Change in Inventories
Note 8
(16,470)
(18,545)
Change in Trade and Other Receivables
Note 9
(4,607)
(2,382)
Change in Trade and Other Payables
Note 19
15,409
(3,978)
Change in Other Assets/Liabilities
Note 15 - 16 - 6
348
118
Change in Post-Employment and Employee Benefits
Note 14
1,060
121
Cash Flow from Operating Activities
41,696
292
Total Investment/Divestment in Intangible Assets
Note 1
(831)
(128)
Total Investment/Divestment in Property, Plant and Equipment
Note 2
(11,615)
(7,497)
Total Investment/Divestment of Investments measured at Equity, net of Income/Charges &
Adjustments (Uniwrite Pens and Plastics Pvt Ltd)
(290)
-
Total Investment/Divestment in Other Financial Assets
Note 3
1,799
(503)
Acquisition of investment in Writefine Products Private Limited
-
(36,110)
Acquisition of investment in Daler & Rowney Lukas Group
(16,875)
-
Acquisition of investment in Pioneer Stationary Pvt Ltd
(13)
-
Acquisition of investment in St Cuthberts
(6,727)
-
Acquisition of investment in Canson
(61,034)
-
Interest Received
105
467
Cash Flow from Investing Activities
(95,481)
(43,772)
Total Change in Equity
Note 12
(4,461)
(271)
Interest paid
Note 29
(5,761)
(3,775)
Total Increase/Decrease Loans and Other Financial Liabilities
Note 13
226,566
(65,450)
Cash Flow from Financing Activities
216,343
(69,495)
Translation difference
Note 12
(10,384)
1,426
Other non-cash equity changes
4,157
2,673
NET CASH FLOW IN THE YEAR
156,331
(108,877)
Changes in Consolidation Scope
Cash and Cash Equivalents net of Bank Overdrafts at beginning of the year
17,542
30,663
Cash and Cash Equivalents net of Bank Overdrafts at beginning of the year (merger
contribution)
-
93,333
Cash and Cash Equivalents net of Bank Overdrafts at beginning of the year (change in
consolidation scope)
(119,901)
2,423
Cash and Cash Equivalents net of Bank Overdrafts at end of the year
53,973
17,542
1)
Cash and cash equivalents at December 31, 2016 totalled Euro 59,519 thousand; current account overdrafts amounted
to Euro 5,546 thousand net of relative interest.
2)
Cash and cash equivalents at December 31, 2015 totalled Euro 30,683 thousand; current account overdrafts amounted
to Euro 13,141 thousand net of relative interest.
3)
The cash flows are presented using the indirect method. In order to provide a more complete and accurate presentation
of the individual cash flows, the effects from non-cash operations were eliminated (including the conversion of
statement of financial position items in currencies other than the Euro), where significant. These effects were
aggregated and included in the account “Other non-cash changes”.
