Cash flow statements

Consolidated cash flow statements

(thousands of €)

2017

2016

Notes

Cash and cash equivalents at beginning of year

973,241

340,314

18

 

 

 

 

Net income / loss (–)

(115,704)

54,012

 

 

 

 

 

Adjustments for:

 

 

 

Tax expense

198

235

10

Other net financial expense / income (–)

25,705

(8,258)

9

Fair value re-measurement of share subscription agreement

(57,479)

8

Depreciation of property, plant and equipment

3,633

3,322

13

Amortization of intangible fixed assets

652

860

12

Net realized gain / loss (–) on foreign exchange transactions

(357)

1,229

 

Share-based compensation

16,536

11,034

29

Increase in provisions

1

7

 

Increase in pension liabilities

22

244

28

Gain on sale of fixed assets

(14)

 

 

 

 

 

 

(69,315)

5,192

 

 

 

 

 

Decrease in inventories

22

25

 

Increase in receivables

(27,656)

(12,978)

17

Increase in payables

14,772

2,102

23

Increase / decrease (–) in deferred income

(65,722)

245,806

24

 

 

 

 

Cash generated / used (–) in operations

(147,899)

240,148

 

 

 

 

 

Interest paid

(273)

(47)

 

Interest received

1,341

1,066

 

Income taxes paid

(199)

(1,763)

 

 

 

 

 

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

(147,030)

239,403

 

 

 

 

 

Purchase of property, plant and equipment

(5,312)

(4,458)

13

Purchase of and expenditure in intangible fixed assets

(2,125)

(332)

12

Proceeds from disposal of property, plant and equipment

7

18

13

Decrease in restricted cash

6,510

235

16

Acquisition of available-for-sale financial assets

(2,750)

14

Proceeds from sale of available-for-sale financial assets

372

14

 

 

 

 

Net cash flows used in investing activities

(549)

(7,287)

 

 

 

 

 

Repayment of obligations under finance leases and other debts

(65)

(49)

 

Proceeds from capital and share premium increases, gross amount

363,924

392,121

19

Issue costs paid related to capital and share premium increases

(15,790)

(337)

19

Proceeds from capital and share premium increases from exercise of warrants

5,288

4,261

19

 

 

 

 

Net cash flows generated in financing activities

353,357

395,996

 

 

 

 

 

Effect of exchange rate differences on cash and cash equivalents

(27,808)

4,816

 

 

 

 

 

Increase in cash and cash equivalents

177,970

632,927

 

 

 

 

 

Cash and cash equivalents at end of the year

1,151,211

973,241

 

In order to align with the presentation for the year ended 31 December 2017, the consolidated cash flow statement for the year ended 31 December 2016 was adjusted as follows: (i) the issue cost paid, related to share capital and the resulting increase in share premium has been reclassified and shown separately from the gross amount of the proceeds from capital and share premium increases, and (ii) acquisition of available-for-sale financial assets were shown separately from the proceeds from sale of available-for-sale financial assets.