ESI Group: Half-year Sales and Results 2020

4. Consolidated statement of cash flows

(In € thousands)	H1 2020 *Jan to June*	H1 2019 Feb to July	Dec 31, 2019 Feb to Dec
Net income before minority interests	8,874	(7,041)	(20,946)
Share of profit of associates	(189)	(264)	(32)
Amortization and provisions ⁽¹⁾	6,042	5,096	8,882
Net impact of capitalization of development costs	11	(82)	(1,300)
Income taxes (current and deferred)	2,813	(2,501)	(3,446)
Income taxes paid	(401)	(415)	(1,980)
Unrealized financial gains and losses	359	(368)	120
Share-based payment transactions	424	358	690
Gains and losses on assets disposals and other components	4	16	114
Operating cash flow	18,316	(4,722)	(17,879)
Trade receivables	10,873	26,703	19,446
Trade payables	(549)	(2,058)	(293)
Other receivables and other liabilities	(9,979)	(18,534)	(865)
Changes in working capital requirements	345	6,101	18,288
NET CASH FROM OPERATING ACTIVITIES	18,661	1,379	409
Purchase of intangible assets	(577)	(566)	(591)
Purchase of property, plant and equipment	(754)	(713)	(1,390)
Acquisition of subsidiaries, net of cash acquired	-	33	(795)
Other investment operations	190	(785)	(7)
NET CASH USED FOR INVESTING ACTIVITIES	(1,141)	(2,032)	(2,784)
Proceeds from loans	-	8,034	14,422
Repayment of borrowings ⁽¹⁾	(12,763)	(10,030)	(10,148)
Proceeds from issue of shares	-	0	17
Purchase and proceeds from disposal of treasury shares	(12)	(114)	22
NET CASH USED FOR FINANCING ACTIVITIES	(12,775)	(2,110)	4,312
Effect of exchange rate changes on cash and cash equivalents	(294)	164	216
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	4,452	(2,599)	2,153
Opening cash position	20,241	18,086	18,087
Closing cash position	24,692	15,487	20,241
NET CHANGE IN CASH AND CASH EQUIVALENTS	4,452	(2,599)	2,154

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