Boskalis 2018 Half Year Report

HALF YEAR REPORT 2018 – BOSKALIS 23 23

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

1ST HALF YEAR

1ST HALF YEAR

2018

2017

(in millions of EUR)

CASH FLOWS FROM OPERATING ACTIVITIES Net group profit/loss (-)

- 361.7

75.1

499.5 137.8

Depreciation, amortization and impairment charges

123.4 198.5

[9/10/11]

Cash flow

Adjustments for: Finance income and expenses, income tax expenses, results from disposals / divestments Movement in other non-current assets, excluding Fugro, excluding deferred tax

14.0

24.4 - 3.0

2.2

- 6.0

Movement in provisions, excluding deferred tax

6.3

- 111.5

Movement in working capital (including inventories, excluding tax and interest)

- 188.2

- 14.8

- 21.9

Share in result of joint ventures and associated companies

[12]

21.7

Cash generated from operating activities

16.1

6.2

14.0

Dividends received

[12]

- 6.0

Interest paid and received

- 15.3 - 23.6

- 11.7

Income tax paid

10.2

Net cash from operating activities

- 8.8

CASH FLOWS FROM INVESTING ACTIVITIES Net investments in intangible assets and property, plant and equipment

- 74.3

- 120.9 114.1

[11] [15]

- -

Divestment of Fugro N.V.

Disposal of (a part of) group companies, net of cash disposed

- 5.4

- 74.3

Net cash used in investing activities

- 12.2

CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from interest-bearing borrowings

146.5

-

[13] [13]

- 0.2

- 445.9

Repayment of interest-bearing borrowings, including make-whole payments Net proceeds from settlement of hedges on early repayment of borrowings

-

52.6

- 16.6 - 36.3

Purchase of ordinary shares

-

[20] [14]

- 29.5

Dividends paid to shareholders and non-controlling interests

93.4

Net cash used in / from financing activities

- 422.8

29.3

- 443.8

NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS

151.2

Net cash and cash equivalents and bank overdrafts as at 1 January

969.7

29.3

Net increase (decrease) in cash and cash equivalents

- 443.8

6.0

Currency translation differences

- 6.4

35.3

Movement in net cash and cash equivalents

- 450.2

186.5

519.5

NET CASH AND CASH EQUIVALENTS AND BANK OVERDRAFTS AS AT 30 JUNE

The notes on pages 25 to 33 are an integral part of these Interim Consolidated Financial Statements for the first half year 2018.