resumen_ejecutivo_ENG

Statement of Cash Flows of Atresmedia Corporación de Medios de Comunicación, S.A. for 2017 (Thousands of euros) 2017 2016 CASH FLOWS FROM OPERATING ACTIVITIES (I) 169,903 84,042 Profit for the year before tax 158,058 156,406 Adjustments for: (20,244) (23,566) - Depreciation and amortisation charge 20,799 21,254 - Impairment losses 8,044 (11,116) - Changes in provisions (1,947) (2,173) - Gains on derecognition and disposal of non-current assets (23) (8) - Finance income (51,528) (36,739) - Finance costs 7,365 6,205 - Exchange differences (16,831) (7,908) - Changes in fair value of financial instruments 13,877 6,919 Changes in working capital 18,546 (54,550) - Inventories 10,203 (30,813) - Trade and other receivables (11,180) (2,936) - Trade and other payables (5,413) (1,452) - Other current assets and liabilities 24,936 (19,349) Other cash flows from operating activities 13,543 5,752 - Interest paid (8,909) (3,876) - Dividends received 47,639 32,400 - Income tax recovered (paid) (25,187) (22,772) CASH FLOWS FROM INVESTING ACTIVITIES (II) (29,569) (23,706) Payments due to investment (29,624) (26,949) - Group companies and associates (16,870) (13,491) - Property, plant and equipment and intangible assets (12,754) (13,458) Proceeds from disposal 55 3,243 - Group companies and associates 55 3,243 CASH FLOWS FROM FINANCING ACTIVITIES (III) (119,382) (60,544) Proceeds and payments relating to equity instruments – (8,931) - Disposal of treasury shares – (8,931) Proceeds and payments relating to financial liability instruments 87,563 38,221 - Repayment of bank borrowings 84,580 20,702 - Proceeds from issue of borrowings from Group companies and associates 2,983 17,519 Dividends and returns on other equity instruments paid (206,945) (89,834) - Dividends (206,945) (89,834) EFFECT OF FOREIGN EXCHANGE RATE CHANGES (IV) – – NET INCREASE/DECREASE IN CASH AND CASH EQUIVALENTS (I+II+III+IV) 20,952 (208) Cash and cash equivalents at beginning of year 724 932 Cash and cash equivalents at end of year 21,676 724 | 36 |  FINANCIAL STATEMENTS ATRESMEDIA  |  EXECUTIVE SUMMARY OF THE ANNUAL AND CORPORATE RESPONSIBILITY REPORT 2017