Universal Registration Document 2019

2.3  /  Cash flow statement at 12/31/2019 (in thousands of euros) 2019 2018 2017 OPERATING ACTIVITIES Operating cash flow 43,922 39,900 25,622 Effect of changes in accounts receivable and accounts payable and accounts payable (15,709) 14,046 (32,546) CASH PROVIDED BY OR USED FOR OPERATIONS (A) 28,214 53,946 (6,924) INVESTMENT OPERATIONS Cash used to acquire tangible and intangible fixed assets (182) (1,185) (1,474) Cash received from the disposal of tangible and intangible fixed assets 489 Cash used to acquire financial assets Cash received from the disposal of financial assets Net cash used for acquisitions and disposals of subsidiaries Cash payments and collections from loans to subsidiaries (8,369) 28,921 (48,938) CASH PROVIDED BY OR USED FOR INVESTING ACTIVITIES (B) (8,551) 27,736 (49,923) FINANCING OPERATIONS Cash received from shareholders as part of a capital increase 2,781 Dividends paid to shareholders of the parent company (23,420) (25,499) (23,872) Cash received from new loans 61,349 30,811 119,836 Repayment of loans (25,622) (50,814) (42,671) CASH PROVIDED BY OR USED FOR FINANCING ACTIVITIES (C) 12,307 (42,721) 53,293 CHANGES IN CASH (A+B+C) * 31,970 38,961 (3,554) Cash at January 1 (D) 338,908 299,947 303,501 Cash at December 31 (A+B+C+D) 370,878 338,908 299,947 Marketable securities 100,961 103,616 133,194 Cash, subsidiaries’ current accounts 609,315 496,264 437,558 Banking facilities, subsidiaries’ current accounts (339,398) (260,972) (270,805) CLOSING CASH POSITION ** 370,878 338,908 299,947 * The overall change in cash position corresponds to the total of net cash flows generated by the various categories: operations, CAPEX, and financing. ** The cash position is the algebraic sum of the balance sheet assets and liabilities. 2.4  /  Change in shareholders’ equity at 12/31/2019 (in thousands of euros) AS OF 12/31/2017 217,488 Profit (loss) for the period 42,296 Capital increase 2,781 Dividends paid (25,499) Accelerated depreciation (29) AS OF 12/31/2018 237,038 Profit (loss) for the period 47,199 Dividends paid (23,420) Accelerated depreciation (43) AS OF 12/31/2019 260,774 83 LISI 2019 UNIVERSAL REGISTRATION DOCUMENT Company financial statements 3