Cash flow statements

Consolidated cash flow statements

(thousands of €)

2016

2015

Notes

Cash and cash equivalents at beginning of year

340,314

187,712

18

 

 

 

 

Net income / loss (–)

54,012

(118,410)

 

 

 

 

 

Adjustments for:

 

 

 

Tax expense / income (–)

235

(1,218)

10

Other net financial income

(8,258)

(448)

9

Fair value re-measurement of share subscription agreement

(57,479)

30,632

8

Depreciation of property, plant and equipment

3,322

2,372

13

Amortization of intangible fixed assets

860

1,030

12

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

1,229

(398)

 

Share-based compensation

11,034

5,036

30

Increase / decrease (–) in provisions

7

(125)

25

Increase in pension liabilities

244

30

29

Gain on sale of fixed assets

(14)

(62)

 

 

 

 

 

Operating cash flows before movements in working capital

5,192

(81,560)

 

 

 

 

 

Increase (–)/ decrease in inventories

25

(44)

 

Increase in receivables

(12,978)

(7,220)

17

Increase / decrease (–) in payables

2,102

(39,508)

24

Increase in deferred income

245,806

12,780

24

 

 

 

 

Cash generated / used (–) in operations

240,148

(115,553)

 

 

 

 

 

Interest paid

(47)

(49)

 

Interest received

1,066

1,106

 

Income taxes paid

(1,763)

(94)

 

 

 

 

 

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

239,403

(114,590)

 

 

 

 

 

Purchase of property, plant and equipment

(4,458)

(6,100)

13

Purchase of and expenditure in intangible fixed assets

(332)

(565)

12

Proceeds from disposal of property, plant and equipment

18

110

13

Decrease in restricted cash

235

2,258

16

Acquisition of available-for-sale financial assets

(2,750)

 

14

 

 

 

 

Net cash flows used in investing activities

(7,287)

(4,297)

 

 

 

 

 

Repayment of obligations under finance leases and other debts

(49)

(43)

23

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

391,784

259,410

19

Proceeds from capital and share premium increases from exercise of warrants

4,261

12,003

19

 

 

 

 

Net cash flows generated in financing activities

395,996

271,370

 

 

 

 

 

Effect of exchange rate differences on cash and cash equivalents

4,816

118

 

 

 

 

 

Increase in cash and cash equivalents

632,927

152,601

 

 

 

 

 

Cash and cash equivalents at end of the year

973,241

340,314