57 / 116
Consolidated statement of cash flows
at 31 December
The notes on page 58-111 are fully part of these consolidated financial statements.
IN ’000 €
NOTE
2013
2014
Profit before tax
49 071
46.370
Adjustment for:
Depreciation and amortization
6
20 005
21 322
Provisions and impairments
-68
-684
Government grants
4
-664
-649
(Gains) Losses on sale of fixed assets
4
-909
-14
Change in fair value of derivative financial instruments and unrealized foreign
exchange results
-9
38
Change in fair value of contingent considerations
7, 10, 24
-1 359
Unwinding of non-current receivables
7, 22
-731
-696
Share-based payments
5
181
389
Impairment on tax shelter investments
7
539
433
Amortization of transaction costs refinancing
209
209
Interest expenses and income
7
4 851
4 313
Change in inventory
-193
-176
Change in trade and other receivables
-2 130
3 154
Change in trade and other payables
-1 980
2 803
Cash from operating activities
68 172
75 453
Income taxes paid
-9 239
-11 321
Net cash from operating activities
58 933
64 132
Acquisition of other intangible assets
9
-951
-2 169
Acquisition of property, plant and equipment and investment property
11, 12
-11 086
-30 570
Acquisition of subsidiaries, net of cash acquired
10
-10 468
Proceeds from sale of property, plant and equipment
1 851
293
Net cash used in investing activities
-10 186
-42 914
Capital reduction
-8
-5
New loans
102 641
102 000
Repayment of borrowings
-114 998
-85 589
Interest paid
-4 873
-4 325
Interest received
21
12
Repurchase and sale of own shares
-28 459
-18 657
Dividends paid
-13 096
-16 846
Net cash used in financing activities
-58 772
-23 410
NET CASH FLOW
-10 025
-2 192
Cash and cash equivalents at beginning of the period
16
28 785
18 712
Cash and cash equivalents at end of the period
16
18 712
16 530
Effect of exchange rate fluctuations on cash held
-48
10
NET CASH FLOW
-10 025
-2 192
55
05 / FINANCIAL REPORT
KINEPOLIS GROUP
ANNUAL REPORT 2014