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65

6. Annual Accounts

Annual Report 2014 BME

CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED

31 DECEMBER 2014 AND 2013

(Thousands of euros)

Note

Year ended

2014

Yearended

2013(*)

CASH FLOWS FROM OPERATING ACTIVITIES:

155,954

139,958

Profit before tax

235,022

203,681

Adjustments to profit (loss)

(9)

5,585

Depreciation and amortisation

5 y 6

6,391

6,933

Other adjustments to profit/(loss) (net)

(6,400)

(1,348)

Changes in working capital (1)

(8,292)

(9,735)

Other cash flows from operating activities:

(70,767)

(59,573)

Interest paid

(2,870)

(2,159)

Dividends paid and payments for equity instruments

-

-

Dividends received

-

-

Interest received

3,715

3,125

Income tax received (paid)

16

(70,098)

(60,534)

Other amounts received/(paid) in operating activities

(1,514)

(5)

CASH FLOWS FROM INVESTING ACTIVITIES:

16,704

(7,117)

Payments for investments

(4,278)

(7,336)

Group companies, joint ventures and associates

(15)

-

Property plant and equipment, intangible assets and investment

properties

5 y 6

(4,013)

(2,085)

Other financial assets

(250)

(5,251)

Other assets

-

-

Proceeds from disposals

20,982

219

Group companies, joint ventures and associates

-

-

Property plant and equipment, intangible assets and investment

properties

6

5

4

Other financial assets

20,977

215

Other assets

-

-

CASH FLOWS FROM FINANCING ACTIVITIES:

(126,988)

(154,514)

Proceeds from and payments for equity instruments

-

(19,154)

Issue of equity instruments

-

-

Redemption of equity instruments

11

-

(19,154)

Acquisition of Parent company equity instruments

-

-

Disposal of Parent company equity instruments

-

-

Acquisitions of non-controlling interests

-

-

Disposals of non-controlling interests

-

-

Grants, donations and bequests received

-

-

Proceeds from and payments for financial liabilities

-

-

Issue

-

-

Redemptions and repayment

Dividends and interest on other equity instruments paid

(126,988)

(135,112)

Gross dividend

11

(137,483)

(145,071)

Withholding

16

10,495

9,959

Other cash flows from financing activities-

-

(248)

Interest paid

-

-

Other amounts received/(paid) in financing activities

11

-

(248)

EFFECT OF EXCHANGE RATE FLUCTUATIONS

-

-

NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS

45,670

(21,673)

Cash and cash equivalents at beginning of year

159,493

185,927

Cash and cash equivalents at end of year

205,163

164,254

COMPONENTS OF CASH AND CASH EQUIVALENTS AT YEAR END

Cash in hand and at banks

9

5,934

6,420

Other financial assets

9

199,229

157,834

Less: Bank overdrafts repayable on demand

-

-

TOTAL CASH AND CASH EQUIVALENTS AT YEAR END

205,163

164,254

(*) Figures presented solely and exclusively for comparison purposes.

Notes 1 to 26 and Appendix I are an integral part of the consolidated statement of cash flows

for the year ended 31 December 2014.

1) In order to more clearly illustrate changes in working capital, this measure does not include fund inflows from “Guarantees and deposits received from market” (Note 7), which are fully invested in other current financial assets, or the effect of

recognising (in the same amount on the asset and liability side of the balance sheet) the financial instruments to which BME Clearing, S.A. – Sociedad Unipersonal acts as central counterparty (CCP), the realisation of cash withheld for unsettled

operations, or receivables (payables) for the settlement of daily trading in options and futures (Note 7).

2) As a consequence of the application of IFRS 11, balances of cash and cash equivalents belonging to the Infobolsa Group and to Regis-TR, S.A. ceased to be integrated. The accounting balance of these items in the Group’s consolidated financial

statements at 31 December 2013 stood at €4,761 thousand (see Notes 1-b) and 9).

Note

Year ended

2014

Yearended

2013(*)