Annual And Corporate Responsibility Report 2017

Goodwill is an intangible asset that shows the extra value of a business based on its future performance and outlook. Atresmedia’s goodwill climbed from 150 million euros in 2016 to 163.2 million euros in 2017 following the acquisition of Smartclip and its subsidiary companies in 2017. Economic value distributed by Atresmedia in 2017 came to 872.68 million euros (738.7 million euros in 2016), as shown below: Programme consumption and other supplies 475,618 (55%) Dividend payments 206,946 (24%) Staff costsl 133,282 (15%) Payments to governments 56,708 (6%) Donations 127 (0%) Economic value distributed Atresmedia invested a total of 62.1 million euros in 2017. The Group’s net financial debt amounted to 239.6 million euros in 2017, versus 178.6 million euros at December 2016, while its net debt/EBITDA ratio was 1.2x. 2017 2016 Net financial debt (€ thousand) 239.6 178.6 Net debt/EBITDA 1.2x 0.9x The main changes in Atresmedia’s cash flow statement between 2016 and 2017 were as follows. Millions of euros 2017 2016 Profit/(loss) before tax 176.6 174.7 Net cash flows from operating activities 209.8 127.4 Investments -62.1 -50.6 Disposals 0.1 3.2 Net cash flows from investing activities -62.0 -47.4 Net cash flows from financing activities -130.3 -79.5 Net increase/(decrease) in cash 17.4 0.5 7. OUR CONTRIBUTION  | 111 | ATRESMEDIA  |  ANNUAL AND CORPORATE RESPONSIBILITY REPORT 2017