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Consolidated statements of cash flows

11/14/2018 - 02:00 PM

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Consolidated statements of cash flows (millions of euros) 31/12/2018 (^) 31/12/2017 31/12/2016
Cash flows generated (used) by operating activities 4.592 5.399 5.706
Cash flows generated (used) by investing activities    (4.314) (4.740)  (3.964)
Cash flows generated (used) by financing activities  (1.830) (1.210) (1.263)
Cash flows generated by discontinued operations/ assets held for sale            -           -         (45)
Net cash and cash equivalents at the beginning of the year 3.246   3.952   3.216
Net effect of foreign currency translation on cash and cash equivalents  (63)    (155)       302
Net cash and cash equivalents at the end of the year 1.631   3.246 3.952
(^) Starting from 1 January 2018, the TIM Group applies the new principles of IFRS 9 (Financial Instruments) and IFRS 15 (Revenues from contracts with customers).