Consolidated cash flow statements

Consolidated cash flow statements

(unaudited)

 

Three months ended 31 March

(thousands of €)

2017

2016

Cash and cash equivalents at beginning of year

973,241

340,314

 

 

 

Net income / loss (–)

(13,605)

35,950

 

 

 

Adjustments for:

 

 

Other net financial expenses

2,380

4,134

Fair value re-measurement of share subscription agreement

(57,479)

Depreciation of property, plant and equipment

870

755

Amortization of intangible fixed assets

180

209

Net realized loss on foreign exchange transactions and net other financial expenses paid

(338)

(724)

Share-based compensation

3,023

1,902

Increase in pension liabilities

72

61

Gain on sale of fixed assets

(13)

 

 

 

Operating cash flows before movements in working capital

(7,418)

(15,206)

 

 

 

Increase in inventories

(24)

(23)

Increase in receivables

(11,586)

(5,209)

Increase in payables

11,092

928

Increase / decrease (–) in deferred income

(15,259)

270,926

 

 

 

Cash generated / used (–) in operations

(23,196)

251,416

 

 

 

Interest paid

(16)

(13)

Interest received

370

144

 

 

 

Net cash flows generated / used (–) in operating activities

(22,843)

251,547

 

 

 

Purchase of property, plant and equipment

(916)

(1,024)

Purchase of and expenditure in intangible fixed assets

(120)

(41)

Proceeds from disposal of property, plant and equipment

1

16

Decrease in restricted cash

6,531

 

 

 

Net cash flows generated / used (–) in investing activities

5,497

(1,050)

 

 

 

Repayment of obligations under finance leases and other debts

(14)

(17)

Proceeds from capital and share premium increases, net of issue costs

392,044

 

 

 

Net cash flows generated/ used (–) in financing activities

(14)

392,027

 

 

 

Effect of exchange rate differences on cash and cash equivalents

(2,496)

(4,505)

 

 

 

Increase / decrease (–) in cash and cash equivalents

(19,856)

638,020

 

 

 

Cash and cash equivalents at end of the period

953,385

978,334