MONCLER ANNUAL REPORT AT 31 DECEMBER 2020CONSOLIDATED FINANCIAL STATEMENTS 8382
CONSOLIDATED STATEMENT OF CASH FLOWS
On behalf of the Board of Directors of Moncler S.p.A.
REMO RUFFINI
CHAIRMAN AND CHIEF EXECUTIVE OFFICER
Consolidated statement of cash flows (Euro/000)
Year 2020
of which related parties
Year 2019
of which related parties
Cash flow from operating activities
Consolidated result 300,366 358,695
Depreciation and amortization 200,976 171,123
Net financial (income)/expenses 23,302 21,072
Equity-settled share-based payment transactions 30,927 29,147
Income tax expenses 45,153 112,032
Changes in inventories - (Increase)/Decrease 2,764 (36,335)
Changes in trade receivables - (Increase)/Decrease (8,120) 4,402 (1,112) (2,954)
Changes in trade payables - Increase/(Decrease) (40,616) (5,055) 23,657 3,368
Changes in other current assets/liabilities (9,287) (3,405) (8,438) (20)
Cash flow generated/(absorbed) from operating activities 545,465 669,841
Interest and other bank charges paid and received (849) 71
Income tax paid (136,882) (86,852)
Changes in other non-current assets/liabilities (1,284) 5,495
Net cash flow from operating activities (a) 406,450 588,555
Cash flow from investing activities
Purchase of tangible and intangible fixed assets (92,561) (123,660)
Proceeds from sale of tangible and intangible fixed assets 2,192 2,812
Net cash flow from investing activities (b) (90,369) (120,848)
Cash flow from financing activities
Repayment of current and non-current lease liabilities (136,923) (116,803)
Short-term borrowings variation (15,735) (10,898)
Dividends paid to shareholders 0 (100,850)
Dividends paid to non-controlling interests 0 (858)
Share capital increase 1,116 686
Treasury Shares variation 0 (15,102)
Other changes in Net Equity 0 24
Net cash flow from financing activities (c) (151,542) (243,801)
Net increase/(decrease) in cash and cash equivalents (a)+(b)+(c) 164,539 223,906
Cash and cash equivalents at the beginning of the period 759,070 546,268
Effect of exchange rate changes (126) (11,104)
Net increase/(decrease) in cash and cash equivalents 164,539 223,906
Cash and cash equivalents at the end of the period 923,483 759,070