Boskalis Half Year Report 2020

27

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

1ST HALF YEAR

1ST HALF YEAR

2019

2020

(in millions of EUR)

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

1.3

- 96.5 243.9 147.4

Depreciation, amortization and impairment charges

126.6 127.9

[10/13]

Cash flow

Adjustments for: Finance income and expenses, income tax expenses, results from disposals / divestments

- 3.3

15.5

Reversal of impairments

- 42.2

-

[11]

Movement in other non-current assets, excluding deferred tax

- 0.2 - 8.2

- 3.6 - 3.2

Movement in provisions, excluding deferred tax

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

- 86.9

177.1

Share in result of joint ventures and associates Cash generated from operating activities

- 8.6

18.6

[14]

- 21.5

351.8

Dividends received

2.4

5.5

[14]

Interest paid and received

- 7.2

- 7.8

Income tax paid

- 14.3 - 40.6

- 18.3 331.2

Net cash from operating activities

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

- 95.5 - 65.3 - 23.3

- 103.7

[13]

Investment in joint ventures

-

Investment in business combination, net of cash acquired

- 30.2

[6]

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

25.5

-

Net cash used in investing activities

- 158.6

- 133.9

CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from interest-bearing borrowings

210.0

401.7

[15] [15] [15]

Transaction costs paid related to new finance agreement

-

- 1.7

Repayment of interest-bearing borrowings

- 0.1

- 250.5

Payment of lease liabilities Purchase of ordinary shares

- 10.7 - 10.7 - 67.0 121.5

- 15.1 - 14.8

Dividends paid to shareholders and non-controlling interests

-

Net cash used in / from financing activities

119.6

- 77.7

316.9

NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS

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

307.9

369.8

Net increase / (decrease) in cash and cash equivalents

- 77.7

316.9

Currency translation differences

- 0.1

0.2

Movement in net cash and cash equivalents

- 77.8

317.1

230.1

686.9

NET CASH AND CASH EQUIVALENTS (INCLUDING BANK OVERDRAFTS) AS AT 30 JUNE

The notes on pages 29 to 35 are an integral part of these Interim Consolidated Financial Statements for the first half year of 2020.

HALF YEAR REPORT 2020 - BOSKALIS