Plastic Omnium - 2018 Registration Document

4 2018 CONSOLIDATED FINANCIAL STATEMENTS Consolidated financial statements at December 31, 2018 www.plasticomnium.com PLASTIC OMNIUM 2018 REGISTRATION DOCUMENT 140 STATEMENT OF CASH-FLOWS 4.2.5 In thousands of euros Notes 2018 2017 published December 31, 2017 restated (1) I – Cash-flows from operating activities Net income 3.1.1 542,777 430,487 430,487 Dividends received from associates and joint ventures 40,973 32,401 32,401 Non-cash items 212,959 396,516 359,826 Net income from assets held for sale and discontinued operations 2.6.1 (1,494) – (20,006) Share of profit/(loss) of associates and joint ventures 4.5 (51,888) (61,746) (61,746) Stock option plan expense 4.3 – 5.2.3 2,528 3,327 3,327 Other adjustments (2) (259,331) 688 698 Depreciation and provisions for impairment of fixed assets 3.1.3 202,740 168,512 155,916 Depreciation and provisions for impairment of intangible assets 3.1.3 163,353 127,660 125,520 Changes in provisions (22,075) (4,841) (4,913) Net (gains)/losses on disposals of non-current assets 4.6 1,210 19,606 21,537 Proceeds from operating grants recognized in the income statement (1,407) (2,274) (2,259) Current and deferred taxes 4.8.1 112,995 84,548 81,302 Interest expense 66,328 61,037 60,450 Net operating cash generated by operations before impact of financial expenses and income tax cash payments (A) 5.1.14 796,709 859,404 822,714 Change in inventories and work-in-progress – net (23,074) (42,327) (42,858) Change in trade receivables – net 180,442 (195,976) (190,900) Change in trade payables (8,097) 177,432 182,009 Change in other operating assets and liabilities – net (17,177) 17,660 17,810 Change in working capital requirements (B) 132,094 (43,211) (33,939) Taxes paid (C) 5.1.14 (82,765) (114,049) (106,660) Interest paid (71,053) (62,729) (62,155) Interest received 4,641 3,540 3,554 Net financial interest paid (D) (66,412) (59,189) (58,601) NET CASH GENERATED BY OPERATING ACTIVITIES (A+B+C+D) 779,626 642,955 623,514 II – Cash-flows from investing activities Acquisitions of property, plant and equipment 3.1.3 (434,327) (328,718) (315,523) Acquisitions of intangible assets 3.1.3 (208,452) (165,561) (164,840) Disposals of property, plant and equipment 4.5 a 4,842 20,638 16,351 Disposals of intangible assets 4.5 a 996 1,338 1,338 Net change in advances to suppliers of fixed assets 74,131 14,471 14,492 Government grants received 1,172 688 688 Net cash used in operations-related investing activities (E) (561,639) (457,144) (447,494) FREE CASH-FLOW (A + B + C + D + E) 217,988 185,811 176,020