Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows
€ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
USD ($)
Dec. 31, 2018
EUR (€)
Dec. 31, 2017
EUR (€)
Dec. 31, 2016
EUR (€)
[1]
Cash flows from operating activities        
Profit (loss) for the year | €   € 604 € (6,641) € (632)
Adjustments for:        
Net Financing expenses | €   2,091 9,228 2,434
Depreciation and amortization | €   5,816 4,518 4,411
Share-based payment transactions | €   5 5 3
Share of profits of equity accounted investees | €   (2,545) (1,531) (1,375)
Payment of interest on loan from an equity accounted investee | €   3,036 407 4,646
Change in trade receivables and other receivables | €   (17) 2,012 (1,771)
Change in other assets | €   37 126 (1,087)
Change in asset from concessions project | €   1,431 (84)
Change in accrued severance pay, net | €   15 2 (16)
Change in trade payables | €   633 (258) 802
Change in other payables | €   (1,565) (2,655) 2,148
Income tax expense | €   215 372 569
Income taxes paid | €   (77) (42) (54)
Interest received | €   1,835 505 224
Interest paid | €   (4,924) (3,659) (2,985)
Total adjustment to reconcile profit and loss | €   5,986 8,946 7,949
Net cash from operating activities | €   6,590 2,305 7,317
Cash flows from investing activities:        
Acquisition of fixed assets | €   (3,708) (7,576) (5,122)
Acquisition of subsidiary, net of cash acquired | €   (1,000) (9,851)
Investment in equity accounted investee | €   (812)
Advances on account of investments | €   (8,000) (710)
Repayment of loan from an equity accounted investee | €   1,540 2,388
Acquisition of marketable securities | €   (6,677) (923)
Proceeds from marketable securities | €   3,316 1,277 5,814
Proceeds from settlement of derivatives, net | €   664 620
Decrease (increase) in restricted cash, net | €   (3,107) 3,225 (56)
Loans to others | €   (3,500) (361)
Net cash from (used in) investing activities | €   (5,795) (27,343) 579
Cash flows from financing activities:        
Dividends paid | €   (2,123)
Repayment of long-term loans and finance lease obligations | €   (17,819) (2,224) (1,089)
Repayment of Debentures | €   (4,668) (4,842) (4,954)
Repurchase of own shares | €   (14) (11)
Proceeds from long term loans | €   34,745 5,575 5,726
Proceeds from issuance of debentures, net | €   31,175
Net cash from (used in) financing activities | €   12,258 29,670 (2,451)
Effect of exchange rate fluctuations on cash and cash equivalents | €   (133) (3,156) (153)
Increase in cash and cash equivalents | €   12,920 1,476 5,292
Cash and cash equivalents at the beginning of year | €   23,962 22,486 [1] 17,194
Cash and cash equivalents at the end of the year | €   € 36,882 € 23,962 € 22,486
USD [Member]        
Cash flows from operating activities        
Profit (loss) for the year | $ $ 692      
Adjustments for:        
Net Financing expenses | $ 2,394      
Depreciation and amortization | $ 6,660      
Share-based payment transactions | $ 6      
Share of profits of equity accounted investees | $ (2,914)      
Payment of interest on loan from an equity accounted investee | $ 3,476      
Change in trade receivables and other receivables | $ (19)      
Change in other assets | $ 42      
Change in asset from concessions project | $ 1,639      
Change in accrued severance pay, net | $ 17      
Change in trade payables | $ 725      
Change in other payables | $ (1,792)      
Income tax expense | $ 246      
Income taxes paid | $ (88)      
Interest received | $ 2,101      
Interest paid | $ (5,638)      
Total adjustment to reconcile profit and loss | $ 6,855      
Net cash from operating activities | $ 7,547      
Cash flows from investing activities:        
Acquisition of fixed assets | $ (4,246)      
Acquisition of subsidiary, net of cash acquired | $ (1,145)      
Investment in equity accounted investee | $      
Advances on account of investments | $      
Repayment of loan from an equity accounted investee | $ 1,763      
Acquisition of marketable securities | $      
Proceeds from marketable securities | $ 3,797      
Proceeds from settlement of derivatives, net | $ 760      
Decrease (increase) in restricted cash, net | $ (3,558)      
Loans to others | $ (4,008)      
Net cash from (used in) investing activities | $ (6,637)      
Cash flows from financing activities:        
Dividends paid | $      
Repayment of long-term loans and finance lease obligations | $ (20,403)      
Repayment of Debentures | $ (5,345)      
Repurchase of own shares | $      
Proceeds from long term loans | $ 39,784      
Proceeds from issuance of debentures, net | $      
Net cash from (used in) financing activities | $ 14,036      
Effect of exchange rate fluctuations on cash and cash equivalents | $ (152)      
Increase in cash and cash equivalents | $ 14,794      
Cash and cash equivalents at the beginning of year | $ 27,437      
Cash and cash equivalents at the end of the year | $ $ 42,231      
[1] Please refer to Note 2C for functional and presentation currency.