Index

CONSOLIDATED CASH FLOW STATEMENTS

Produced in the periods 2017 and 2016 (Thousands of euros)

  Note 31.12.2017 31.12.2016
1. OPERATING ACTIVITIES      
Consolidated profit (loss) before tax:   72.997 44.358

Adjustments:

  Depreciation of tangible and amortisation of intangible assets (+)

7 and 8 123.085 114.171
  Impairment (profits) / losses (net) (+/-) 6, 7 y 8 (9.005) 2.685
  Allocations for provisions (net) (+/-) 17 (4.216) (4.163)
  Gains/Losses on the sale of tangible and intangible assets (+/-) 7, 8 y 24.1 (30.148) (41.526)
  Gains/Losses on investments valued using the equity method (+/-) 9 349 (119)
  Financial income (-) 24.2 (2.995) (3.310)
  Financial expenses and variation in fair value of financial instruments (+) 24.6 76.754 71.869
  Net exchange differences (Income/(Expense))   6.360 3.561
  Profit (loss) on disposal of financial investments 25.5 1.927 (9.856)
  Other non-monetary items (+/-)   10.036 19.692
Adjusted profit (loss)   245.144 197.362

Net variation in assets / liabilities:

  (Increase)/Decrease in inventories

  61 (290)
  (Increase)/Decrease in trade debtors and other accounts receivable   10.405 28.622
  (Increase)/Decrease in other current assets   6.072 13.960
  (Increase/(Decrease) in trade payables   (3.088) (24.586)
  Increase/(Decrease) in other current liabilities   (196) (23.478)
  Increase/(Decrease) in provisions for contingencies and expenses   (7.196) (7.710)
  (Increase)/Decrease in non-current assets   748 291
  Increase/(Decrease) in non-current liabilities   (412) 5.784
Income tax paid   (21.903) (13.381)
Total net cash flow from operating activities (I)   229.635 176.574
       
2. INVESTMENT ACTIVITIES      
Finance income   1.345 2.013

Investments (-):

  Group companies, joint ventures and associates

  (22.269) (5.597)
  Tangible and intangible assets and investments in property   (81.750) (139.392)
    (104.019) (144.989)

Disinvestment (+):

  Group companies, joint ventures and associates

  62 -
  Tangible and intangible assets and investments in property   60.301 88.590
  Non-current financial investments   - 30.723
    60.363 119.313
Total net cash flow from investment activities (II)   (42.311) (23.663)
       
3. FINANCING ACTIVITIES      
Dividends paid out (-) 14.1 y 14.4 (18.552) (1.056)
Interest paid on debts (-)   (67.781) (53.926)
  Interest paid on means of payment   (16.317) (14.472)
  Interest paid on funding and other interest   (51.464) (39.454)
Variations in (+/-):      
  Equity instruments      
  - Treasury shares   - (2.422)
  Debt instruments:      
    - Bonds and other tradable securities + 15 - 285.000
    - Bonds and other tradable securities - 15 (135.000) -
    - Loans from credit institutions (+)   - 28.217
    - DLoans from credit institutions (-) 15 (21.772) (349.874)
    - Other financial liabilities (+/-)   (681) (372)
Total net cash flow from financing activities (III)   (243.786) (94.433)
       
4. GROSS INCREASE/DECREASE IN CASH AND CASH EQUIVALENTS (I+II+III)   (56.462) 58.478
5. Effect of exchange rate variations on cash and cash equivalents (IV)   - 591
6. Effect of variations in the scope of consolidation (V)   (22) (35)
7. NET INCREASE/DECREASE IN CASH AND CASH EQUIVALENTS (I+II+III+IV+VI)   (56.484) 59.034
8. Cash and cash equivalents at the start of the financial year   136.733 77.699
9. Cash and cash equivalents at the end of the financial year (7+8)   80.249 136.733

Notes 1 to 30 described in the consolidated Record and Appendices I/II form an integral part of the statement of changes in consolidated assets for the year 2017.
The statement of changes in consolidated assets for the year 2016 is only presented for comparative purposes.

nh-hotel-group