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

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows
€ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
USD ($)
Dec. 31, 2017
EUR (€)
Dec. 31, 2016
EUR (€)
Dec. 31, 2015
EUR (€)
Cash flows from operating activities        
Profit (loss) for the year | €   € (6,641) € (632) [1] € 8,110 [1]
Adjustments for:        
Net Financing expenses (income) | €   9,228 2,434 [1] (2,076) [1]
Depreciation | €   4,518 4,411 [1] 4,428 [1]
Share-based payment transactions | €   5 3 [1] 7 [1]
Share of profits of equity accounted investees | €   (1,531) (1,375) [1] (2,202) [1]
Payment of interest on loan from an equity accounted investee | €   407 4,646 [1] [1]
Change in trade receivables and other receivables | €   2,012 (1,771) [1] 615 [1]
Change in other assets | €   126 (1,087) [1] (2,972) [1]
Change in receivable from concessions project | €   (84) [1] [1]
Change in accrued severance pay, net | €   2 (16) [1] 1 [1]
Change in trade payables | €   (258) 802 [1] (214) [1]
Change in other payables | €   (2,655) 2,148 [1] 3,554 [1]
Income tax expense (tax benefit) | €   372 569 [1] (1,739) [1]
Income taxes paid | €   (42) (54) [1] (218) [1]
Interest received | €   505 224 [1] 197 [1]
Interest paid | €   (3,659) (2,985) [1] (2,816) [1]
Total adjustment to reconcile profit and loss | €   8,946 7,949 [1] (3,435) [1]
Net cash from operating activities | €   2,305 7,317 [1] 4,675 [1]
Cash flows from investing activities:        
Acquisition of fixed assets | €   (7,576) (5,122) [1] [1]
Acquisition of subsidiary, net of cash acquired (see Note 6C and Note 6D) | €   (9,851) [1] [1]
Investment in equity accounted investee | €   (812) [1] (6,646) [1]
Advances on account of investments | €   (8,000) (710) [1] [1]
Repayment of loan from an equity accounted investee | €   2,388 [1] [1]
Decrease in deposits, net | €   [1] 3,276 [1]
Acquisition of marketable securities | €   (6,677) (923) [1] (2,531) [1]
Proceeds from marketable securities | €   1,277 5,814 [1] [1]
Proceeds from settlement of derivatives, net | €   620 [1] 1,844 [1]
Decrease (increase) in restricted cash, net | €   3,225 (56) [1] (83) [1]
Loans to others | €   (361) [1] [1]
Net cash from (used in) investing activities | €   (27,343) 579 [1] (4,140) [1]
Cash flows from financing activities:        
Acquisition of non-controlling interests | €   [1] (775) [1]
Dividends paid | €   (2,123) [1] [1]
Repayment of long-term loans and finance lease obligations | €   (2,224) (1,089) [1] (921) [1]
Repayment of Debentures | €   (4,842) (4,954) [1] (4,717) [1]
Proceeds from exercise of share options and warrants | €   [1] 1,071 [1]
Repurchase of own shares | €   (14) (11) [1] (1,307) [1]
Proceeds from long term loans | €   5,575 5,726 [1] 10,447 [1]
Proceeds from issuance of debentures, net | €   31,175 [1] [1]
Net cash from (used in) financing activities | €   29,670 (2,451) [1] 3,798 [1]
Effect of exchange rate fluctuations on cash and cash equivalents | €   (3,156) (153) [1] (111) [1]
Increase in cash and cash equivalents | €   1,476 5,292 [1] 4,222 [1]
Cash and cash equivalents at the beginning of year | € [1]   22,486 17,194 12,972
Cash and cash equivalents at the end of the year | €   € 23,962 € 22,486 [1] € 17,194 [1]
USD [Member]        
Cash flows from operating activities        
Profit (loss) for the year | $ $ (7,954)      
Adjustments for:        
Net Financing expenses (income) | $ 11,052      
Depreciation | $ 5,411      
Share-based payment transactions | $ 6      
Share of profits of equity accounted investees | $ (1,834)      
Payment of interest on loan from an equity accounted investee | $ 487      
Change in trade receivables and other receivables | $ 2,410      
Change in other assets | $ 151      
Change in receivable from concessions project | $ (101)      
Change in accrued severance pay, net | $ 2      
Change in trade payables | $ (309)      
Change in other payables | $ (3,180)      
Income tax expense (tax benefit) | $ 447      
Income taxes paid | $ (50)      
Interest received | $ 605      
Interest paid | $ (4,383)      
Total adjustment to reconcile profit and loss | $ 10,714      
Net cash from operating activities | $ 2,760      
Cash flows from investing activities:        
Acquisition of fixed assets | $ (9,074)      
Acquisition of subsidiary, net of cash acquired (see Note 6C and Note 6D) | $ (11,799)      
Investment in equity accounted investee | $      
Advances on account of investments | $ (9,582)      
Repayment of loan from an equity accounted investee | $      
Decrease in deposits, net | $      
Acquisition of marketable securities | $ (7,997)      
Proceeds from marketable securities | $ 1,530      
Proceeds from settlement of derivatives, net | $ 742      
Decrease (increase) in restricted cash, net | $ 3,863      
Loans to others | $ (432)      
Net cash from (used in) investing activities | $ (32,749)      
Cash flows from financing activities:        
Acquisition of non-controlling interests | $      
Dividends paid | $      
Repayment of long-term loans and finance lease obligations | $ (2,664)      
Repayment of Debentures | $ (5,800)      
Proceeds from exercise of share options and warrants | $      
Repurchase of own shares | $ (17)      
Proceeds from long term loans | $ 6,677      
Proceeds from issuance of debentures, net | $ 37,340      
Net cash from (used in) financing activities | $ 35,536      
Effect of exchange rate fluctuations on cash and cash equivalents | $ (3,780)      
Increase in cash and cash equivalents | $ 1,767      
Cash and cash equivalents at the beginning of year | $ 26,933      
Cash and cash equivalents at the end of the year | $ $ 28,700      
[1] Please refer to note 2C for functional and presentation currency.