(in thousands of euros) | 2020 | 2019 |
Cash flow from operating activities | ||
Net income for the year | 63,770 | 187,926 |
Losses on disposals | 1,002 | 1,082 |
(Reversals)/increases, net of increases/reversals | (34,336) | (13,039) |
Transfer to deferred expenses, net of amortization/depreciation | 1,986 | (1,377) |
Amortization of redemption premiums on the Eurobond issue | 2,009 | 1,986 |
Cash flow | 34,331 | 176,578 |
Change in working capital requirements | 865 | 14,529 |
Net cash flows generated by (used in) operating activities (I) | 35,196 | 191,107 |
Cash flow from investing activities | ||
Purchases of property, plant and equipment and intangible assets | (991) | (501) |
Acquisitions of subsidiaries | - | - |
Disposals of subsidiaries | - | - |
Net cash flows generated by (used in) investing activities (II) | (991) | (501) |
Cash flow from financing activities | ||
Dividends paid to holders of the parent company | (102,077) | (284,944) |
Capital increase | 626 | 5,429 |
New bonds | - | - |
Increases in other borrowings/(loans) | (150,000) | 300,000 |
Decreases in loans/(other borrowings) | 138,730 | 49,051 |
Sale of treasury shares | 7,806 | 1,823 |
Net cash flows generated by (used in) financing activities (III) | (104,915) | 71,359 |
Change in cash and cash equivalents (I +II+III) | (70,710) | 261,965 |
Net cash and cash equivalents at beginning of the year | 223,643 | (38,322) |
Net cash and cash equivalents at end of the year | 152,933 | 223,643 |
Change in cash and cash equivalents | (70,710) | 261,965 |
