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Rothschild & Co | Annual Report 2017
In thousands of euro
01/04/17
31/12/17
(9 months)
01/04/16
31/03/17
(12 months)
Consolidated profit before tax (I)
353,838
436,740
Depreciation and amortisation expense on tangible fixed assets and intangible fixed assets
25,496
32,116
Impairments and net charge for provisions
12,881
13,422
Remove (income)/loss from associates and long-standing shareholding
(17,278)
(4,197)
Remove (profit)/loss from disposal of a subsidiary
(646)
(3,904)
Remove (profit)/loss from investing activities
(122,738)
(111,374)
Non-cash items included in pre-tax profit and other adjustments (II)
(102,285)
(73,937)
Net (advance)/repayment of loans to customers
(215,283)
(140,068)
Cash (placed)/received through interbank transactions
461,834
(354,925)
Increase/(decrease) in due to customers
27,890
425,503
Net inflow/(outflow) related to derivatives and trading items
(19,185)
(5,481)
Issuance/(redemption) of debt securities in issue
(44,096)
4,067
Net (purchases)/disposals of AFS assets held for liquidity purposes
(59,486)
153,533
Other movements in assets and liabilities related to treasury activities
28,531
(41,311)
Total treasury-related activities
395,488
181,386
(Increase)/decrease in working capital
(45,303)
(15,753)
Tax paid
(55,285)
(71,371)
Other operating activities
(100,588)
(87,124)
Net (decrease)/increase in cash related to operating assets and liabilities (III)
79,617
(45,806)
Net cash inflow/(outflow) related to operating and treasury activities (A) = (I) + (II) + (III)
331,170
316,997
Purchase of investments
(132,630)
(154,437)
Purchase of subsidiaries and associates
–
(99,255)
Cash and cash equivalents acquired in new subsidiaries
–
442,753
Purchase of property, plant and equipment and intangible fixed assets
(20,921)
(13,149)
Total cash invested
(153,551)
175,912
Cash received from investments (disposals and dividends)
222,500
248,269
Cash received from subsidiaries, associates and long-standing shareholding (disposals and dividends)
5,242
15,940
Cash from disposal of property, plant and equipment and intangible fixed assets
1,849
546
Total cash received from investments
229,591
264,755
Net cash inflow/(outflow) related to investing activities (B)
76,040
440,667
Dividends paid to shareholders of parent company
(51,511)
(44,184)
Dividends paid to non-controlling interests (note 18)
(2,644)
(131,984)
Interest paid on perpetual subordinated debt
(2,281)
(13,748)
(Acquisition)/disposal of own shares and additional interests in subsidiaries
(22,075)
(58,864)
Net cash inflow/(outflow) related to financing activities (C)
(78,511)
(248,780)
Impact of exchange rate changes on cash and cash equivalents (D)
(268,913)
31,457
NET INFLOW/(OUTFLOW) OF CASH (A) + (B) + (C) + (D)
59,786
540,341
Net opening cash and cash equivalents (note 20)
4,862,321 4,321,980
Net closing cash and cash equivalents (note 20)
4,922,107 4,862,321
NET INFLOW/(OUTFLOW) OF CASH
59,786
540,341
Cash flow statement
for the nine months ended 31 December 2017