Vetoquinol - Universal Registration Document - 2021

66 Vetoquinol Universal Registration Document 2020 Financial report 6 CONSOLIDATED FINANCIAL STATEMENTS Consolidated statement of cash flows 6.3 Consolidated statement of cash flows €000 Notes Dec 31, 2020 Dec 31, 2019 Consolidated net income 19,229 28,247 Elimination of non-cash items Depreciation, amortization and provisions 41,241 19,288 Depreciation, amortization and provisions - IFRS 16 4,905 4,792 Elimination of (earnings)/loss of associates (286) (30) Income tax expense 6.5.18 16,635 12,464 Interest expense 310 124 Interest expense - IFRS 16 134 165 Provisions for employee benefits 42 81 Capital gains (losses) on sales, net of tax 1,024 387 Other non-cash items - - Income and expenses from share-based payments 78 - Cash flows from operating activities 83,312 65,518 Tax paid 6.5.18 (12,517) (14,216) Change in working capital 6.5.26 21,435 722 Net cash flow from operating activities 92,229 52,024 Purchase of intangible assets 6.5.21 (135,125) (4,892) Purchase of PP&E 6.5.22 (10,336) (9,441) Purchase of available-for-sale assets - (5) Acquisition of financial assets - - Proceeds from sale of assets 180 678 Loan repayments - other financial assets 141 141 (88) Net cash flow from (used by) business combinations 6.5.7 (0) (50,801) Net cash flow from (used by) investing activities (145,140) (64,547) Capital increase - 0 Net (purchase)/sale of treasury stock (243) (521) Issuance of debt and other financial liabilities 6.5.31 112,070 6 Repayment of financial liabilities (89) (8,816) Cash flows from financing activities - IFRS 16 (5,039) (4,966) Interest paid 6.5.17 (601) (249) Interest received 6.5.17 384 110 Dividends paid to parent company shareholders 6.5.30.4 (4,494) (5,679) Dividends paid to non-controlling (minority) interests (1) (1) Investment subsidies and government loans - - Other cash flows from financing activities - - Net cash flow from (used by) financing activities 101,988 (20,117) Exchange gains (losses) (3,324) (1,355) Net change in cash 45,753 (33,995) Opening net cash and cash equivalents 83,581 117,576 Change in cash and cash equivalents 45,753 (33,995) Closing net cash and cash equivalents 6.5.29 129,334 83,581