CFM INDOSUEZ Wealth Management - 2019 annual report

57 C a s h f l o w s t a t e m e n t (in thousands of euros) 31/12/2019 31/12/2018 Income before tax 62,964 27,016 Net depreciation, amortisation and impairment of property, plant and equipment and intangible assets 4,449 2,187 Impairment of goodwill and other non-current assets Net allocations to impairment and provisions 1,518 1,145 Share of net income of companies accounted for by the equity method Net income from investment activities -31,878 16 Net income from financing activities 5 0 Other transactions 3,183 -686 Total non-monetary items included in net income before tax and other adjustments -22,723 2,662 Cash flows related to transactions with credit institutions -251,595 -455,040 Cash flows related to transactions with clients 191,457 -66,623 Cash flows related to other transactions affecting financial assets or liabilities 159,217 839,485 Cash flows related to transactions affecting non-financial assets or liabilities 4,486 -13,928 Dividends received from companies accounted for by the equity method Taxes paid -6,642 -3,579 Net change in assets and liabilities from operating activities 96,923 300,315 Cash flows from discontinued operations 0 0 Total net cash flows from operating activities (A) 137,164 329,993 Cash flows related to equity investments Cash flows related to property, plant and equipment and intangible assets -101,734 -1,966 Cash flows from discontinued operations Total net cash flows from investing activities (B) -101,734 -1,966 Cash flows arising from transactions with shareholders (1) -25,568 -25,464 Other net cash flows from financing activities -5 Cash flows from discontinued operations 0 0 Total cash flows from financing activities (C) -25,573 -25,464 Impact of foreign exchange rate changes on cash and cash equivalents (D) -49 165 NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS (A+B+C+D) 9,808 302,728 Cash and cash equivalents at the start of the year 572,007 269,279 Net balance of cash accounts and accounts with central banks * 305,414 62,570 Net balance of accounts, demand loans/borrowings with credit institutions ** 266,593 206,709 Cash and cash equivalents at the end of the year 581,815 572,007 Net balance of cash accounts and accounts with central banks * 469,249 305,414 Net balance of accounts, demand loans/borrowings with credit institutions ** 112,566 266,593 CHANGE IN NET CASH AND CASH EQUIVALENTS 9,808 302,728 * Consisting of the net balance of “Cash and amounts due from central banks”, excluding accrued interest and including cash from entities reclassified as discontinued operations. ** Consisting of the balance of the items “Performing ordinary accounts receivable” and “Performing accounts and overnight loans” and “Ordinary accounts payable” and “Accounts and overnight borrowings” (excluding accrued interest). (1) Cash flows arising from transactions with shareholders: This amount corresponds to dividends paid: - by the Bank CFM Indosuez Wealth Management (Monaco) to its shareholders further to the decision by the Ordinary Annual General Meeting of 16 May 2019, for € 25,464,000 - by subsidiaries to non-controlling interests (minority interests), for € 104,000. Annual Financial Statements 2019