Boskalis Half Year Report 2021

27

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

1ST HALF YEAR

1ST HALF YEAR

2020

2021

(in millions of EUR)

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

- 96.5

70.1

Depreciation, amortization and impairment charges

243.9

129.1

[9/10]

Cash flow

147.4

199.2

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

15.5

23.8

Movement in other non-current assets, excluding deferred tax

- 3.6

- 12.4

Movement in provisions, excluding deferred tax

- 3.2

- 2.6

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

177.1

- 81.7

Share in result of joint ventures and associates

18.6

- 18.0

[11]

Cash generated from operating activities

351.8

108.3

Dividends received

5.5

0.9

[11]

Interest paid and received

- 7.8

- 8.0

Income tax paid

- 18.3

- 21.1

Net cash from operating activities

331.2

80.1

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

- 103.7

- 196.5

Investment in business combination, net of cash acquired

- 30.2

-

Net cash used in investing activities

- 133.9

- 196.5

CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from interest-bearing borrowings

401.7

15.0

Transaction costs paid related to new finance agreement

- 1.7

-

Repayment of interest-bearing borrowings

- 250.5

- 7.7

Payment of lease liabilities

- 15.1

- 17.1

Purchase of ordinary shares

- 14.8

- 18.7

[18]

Dividends paid to shareholders and non-controlling interests

-

- 64.8

[14]

Net cash used in / from financing activities

119.6

- 93.3

316.9

- 209.7

NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS

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

369.8

814.9

Net increase / (decrease) in cash and cash equivalents (including bank overdrafts)

316.9

- 209.7

Currency translation differences

0.2

-

Movement in net cash and cash equivalents

317.1

- 209.7

686.9

605.2

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

The notes on pages 29 to 34 are an integral part of these Interim Consolidated Financial Statements for the first half year of 2021.

HALF YEAR REPORT 2021 - BOSKALIS