Statement of Cash flows
| Download XLS (27 kB) |
(€ million) |
Notes |
First half 2014 |
First half 2015 |
|
561 |
612 |
|
Adjustments for reconciling net profit with cash flows from operating activities: |
|
|
|
(21) |
384 |
422 |
|
Equity method valuation effect |
|
(49) |
(70) |
Net capital losses on asset sales, cancellations and eliminations |
|
5 |
10 |
Interest income |
|
(11) |
(7) |
Interest expense |
|
178 |
176 |
Income taxes |
(24) |
328 |
283 |
Other changes |
|
|
1 |
Changes in working capital: |
|
|
|
- Inventories |
|
21 |
37 |
- Trade receivables |
|
509 |
350 |
- Trade payables |
|
(420) |
(205) |
- Provisions for risks and charges |
|
(16) |
(20) |
- Other assets and liabilities |
|
(288) |
(132) |
Working capital cash flows |
|
(194) |
30 |
Change in provisions for employee benefits |
|
2 |
(2) |
Dividends collected |
|
39 |
99 |
Interest collected |
|
4 |
4 |
Interest paid |
|
(176) |
(172) |
Income taxes paid net of reimbursed tax credits |
|
(424) |
(240) |
Net cash flow from operating activities |
|
647 |
1,146 |
- of which with related parties |
(27) |
1,219 |
1,619 |
|
|
|
|
- Property, plant and equipment |
(8) |
(363) |
(313) |
- Intangible assets |
(9) |
(149) |
(141) |
- Companies included in the scope of consolidation and business units |
|
|
(45) |
- Equity investments |
|
|
(14) |
- Change in payables and receivables relating to investments |
|
(38) |
(133) |
Cash flow from investments |
|
(550) |
(646) |
Divestments: |
|
|
|
- Property, plant and equipment |
|
|
1 |
- Equity investments |
|
7 |
86 |
Cash flow from divestments |
|
7 |
87 |
Net cash flow from investment activities |
|
(543) |
(559) |
- of which with related parties |
(27) |
10 |
(52) |
Assumption of long-term financial debt |
|
1,375 |
591 |
Repayment of long-term financial debt |
|
(530) |
(502) |
Increase (decrease) in short-term financial debt |
|
(444) |
154 |
Financial receivables not held for operations |
|
|
(5) |
|
|
401 |
238 |
Dividends paid to Snam shareholders |
|
(507) |
(875) |
Sale of treasury shares |
|
2 |
|
Net cash flow from financing activities |
|
(104) |
(637) |
- of which with related parties |
(27) |
(602) |
(345) |
Net cash flow for the period |
|
|
(50) |
Cash and cash equivalents at the beginning of the period |
(3) |
2 |
74 |
Cash and cash equivalents at the end of the period |
(3) |
2 |
24 |