Statement of cash flows

    First half of
(€’000) Note 2014 of which, related parties 2013 restated of which, related parties
Cash flows from operating activities:          
Gross cash flows from operating activities 7 58,734 - 61,855 -
Change in working capital 7 (50,039) 18,637 (66,999) 58,419
Changes in other operating assets and liabilities 7 (9,846) (4,236) (3,970) 27
Net interest paid 7 (138) 112 3,024 170
Income taxes paid 7 (12,575) - (14,999) -
Cash flows used in operating activities   (13,864) - (21,089) -
Cash flows from investing activities:          
Acquisitions/coverage of losses of companies, net of cash acquired   (2) - (103) -
Investments in property, plant and equipment and intangible assets   (2,425) - (4,793) -
Sales of property, plant and equipment and intangible assets   2 - (123) -
Sale of equity investments and financial assets   21 - - -
Changes in non-current financial assets   - - 33 -
Cash flows used for strategic transactions   (1,949) - (631) -
Cash flows used in investing activities   (4,353) - (5,617) -
Cash flows from financing activities:          
Net change in other financing activities   (1,089) 4,392 34,215 44,770
Dividends paid   (28,800) - (28,800) -
Other financing activities   - - (156) -
Cash flows from (used in) financing activities   (29,889) - 5,259 -
Net decrease in cash and cash equivalents   (48,106) - (21,447) -
Net exchange rate gains (losses)   935 - (2,733) -
Opening cash and cash equivalents   191,521 - 141,922 -
Closing cash and cash equivalents   144,350 - 117,742 -

Registered Office: 16151 Genoa Via Paolo Mantovani, 3 - 5
Paid-in Share Capital EUR 100,000,000 R.E.A. n. 421689 Register of Enterprises of Genoa Tax Code 01371160662
A Finmeccanica Company