E. CONSOLIDATED STATEMENTS OF CASH FLOWS FOR 2017 AND 2016
(Millions of euros) |
NOTE |
2017 |
2016 |
Net profit attributable to the Parent |
454 |
376 |
|
Adjustments for: |
|
479 |
568 |
Non-controlling interests |
|
53 |
7 |
Tax |
|
71 |
233 |
Result of companies accounted for using the equity method |
|
-251 |
-82 |
Financial result |
|
311 |
391 |
Impairment and disposals of non-current assets |
|
-81 |
-324 |
Depreciation and amortisation charge |
|
375 |
342 |
Gross profit from operations |
932 |
944 |
|
Income taxes paid |
-142 |
-147 |
|
Change in working capital (receivables, payables and other) |
-53 |
-52 |
|
Dividends from infrastructure project companies received |
543 |
427 |
|
Cash flows from operating activities |
1,280 |
1,172 |
|
Investments in property, plant and equipment and intangible assets |
-135 |
-177 |
|
Investments in infrastructure projects |
-371 |
-388 |
|
Loans granted to associates/acquisition of companies |
|
-178 |
-736 |
Interest received |
34 |
34 |
|
Long-term restricted cash |
|
-66 |
12 |
Divestment of infrastructure projects |
|
0 |
0 |
Divestment/Sale of companies |
248 |
340 |
|
Cash flows from investing activities |
|
-468 |
-915 |
Cash flows before financing activities |
|
812 |
256 |
Capital proceeds from non-controlling interests |
|
35 |
53 |
Scrip dividend |
|
-218 |
-226 |
Acquisition of treasury shares |
|
-302 |
-317 |
Remuneration of shareholders |
-520 |
-544 |
|
Dividends paid to non-controlling shareholders of investees |
|
-49 |
-24 |
Subordinated hybrid bond issue |
|
500 |
0 |
Other changes in shareholders’ equity |
-2 |
0 |
|
Cash flows from shareholders and non-controlling interests |
|
-36 |
-515 |
Interest paid |
-270 |
-385 |
|
Increase in borrowings |
|
1,184 |
1,505 |
Decrease in borrowings |
|
-554 |
-548 |
Cash flows from financing activities |
|
324 |
57 |
Effect of foreign exchange rate changes on cash and cash equivalents |
|
-71 |
18 |
Change in cash and cash equivalents due to changes in the scope of consolidation |
|
-43 |
-32 |
|
|
|
|
Change in cash and cash equivalents |
1,023 |
299 |
|
Cash and cash equivalents at beginning of year |
|
3,578 |
3,279 |
Cash and cash equivalents at end of year |
|
4,601 |
3,578 |
The accompanying Notes 1.1 to 7.1 are an integral part of the consolidated statement of cash flows for the year ended 31 December 2017.
Translation of consolidated financial statements originally issued in Spanish and prepared in accordance with the regulatory financial reporting framework applicable to the Group in Spain (see Notes 1.1 and 7.1). In the event of a discrepancy, the Spanish-language version prevails.