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Marie Brizard Wine & Spirits SA (BVDRF)

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1.66000.0000 (0.00%)
At close: 3:43PM EDT
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Previous close1.6600
Open1.6600
Bid0.0000 x 0
Ask0.0000 x 0
Day's range1.6600 - 1.6600
52-week range0.9300 - 1.9500
Volume65
Avg. volume140
Market cap190.06M
Beta (5Y monthly)0.85
PE ratio (TTM)N/A
EPS (TTM)-1.0400
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
  • Globe Newswire

    Marie Brizard Wine & Spirits_ Monthly declaration of the total number of voting rights and shares

    MONTHLY DECLARATION OF THE TOTAL NUMBER OF VOTING RIGHTS AND SHARES (ARTICLE L233-8II THE COMMERCIAL CODE and 223-16 OF THE GENERAL REGULATIONS OF THE FINANCIAL MARKETS AUTHORITY (AMF)) Charenton-le-Pont, 5th May, 2021 MARIE BRIZARD WINE & SPIRITS ISIN Code: 0000060873 Situation at:Total number of shares comprising share capitalTotal number of voting rights30 April 2021111 949 018Number of voting rights (1): 115 355 968Number of exercisable voting rights (2): 115 223 132 Do the Marie Brizard Wine & Spirits SA by-laws contain a clause requiring disclosure of the crossing of any statutory thresholds in addition to that relating to legal thresholds: yes. (1) Including treasury shares (2) After deduction of treasury shares Attachment MBWS_MONTHLY DECLARATION OF THE TOTAL NUMBER OF VOTING RIGHTS AND SHARES_April 2021

  • Globe Newswire

    Marie Brizard Wine & Spirits: Net sales for the first quarter 2021

    Charenton-le-Pont, April 28th, 2021 Net sales for the first quarter 2021 2021 1st quarter Net Sales at €38.4M (-6.9%) excluding Poland and Moncigale A dynamic start of the year in France with sales ahead by +6.6%driven by retail sales, the resumption of promotional activity and the impact of the distribution agreement for the Paddy Irish Whiskey brand, taken over in June 2020Impact of the pandemic in the International cluster’s sales: - Return to the pre-crisis level of ethyl alcohol bulk sales in Lithuana - Key markets (United Kingdom, USA and Spain) still penalised by restrictive On Trade measures - Normalization of shipments to the USA after a first year 2020 of inventory building - Progress in markets less affected by restrictions (e. g. Germany) NB: All sales growth figures mentioned in this press release are at constant exchange rates and on a like-for-like basis, unless otherwise stated. Marie Brizard Wine & Spirits (Euronext : MBWS) today announces its unaudited net sales for the 1st quarter 2021, covering the period from 1st January to 31 March 2021. In line with the evolution of the business following the various disposals since 2019 (in particular the activities in Poland, sold October 21, 2020, and Moncigale sold February 16, 2021), the Group’s revenue is now presented according to two clusters, France and International, reflecting the Group’s new managerial organization in place since January 1, 2021.The tables reconsituting 2020 revenues by quarter (applying IFRS 5) according to the breakdown into two clusters are presented in the Appendix. 1st Quarter 2021 Sales (*) in M€Q1 2020Organic growthCurrency impactQ1 2021Organic Growth (exc. forex)Growth (incl. forex)France 18.01.20.019.26.6%6.6%International 23.8-4.1-0.519.3-17.1%-19.0%TOTAL MBWS41.8-2.9-0.538.4-6.9%-8.0% * Application of IFRS 5 "Entities sold and held for sale": restatement of the scope of consolidation relating to divested activities (Poland and Moncigale) Details by cluster France In the first quarter of 2021, the France cluster’s revenue amounted to €19.2m, up +6.6% compared with the beginning of 2020, which was impacted by the effects of the Covid-19 pandemic from mid-March. In a dynamic retail spirits market, which benefited from a shift in consumption resulting from the closure of bars and restaurants, MBWS resumed its sales support plans and saw a contribution from sales of the Paddy brand, taken over in June 2020. In the On Trade, activity was down sharply in the quarter due to the on-going closures resulting from the health crisis, in contrast to 2020 when hotels and restaurants were open. It also takes into account the change in distribution model dating from March 2020, which led to a mechanical decline in channel invoiced sales revenue. Brands in the portfolio maintained their market share globally, although the William Peel brand has seen some softness after a strong quarter in 2020. International The International cluster’s first quarter 2021 revenue amounted to €19.3m, down -17.1% compared with the first quarter 2020. In Western Europe, the solid growth experienced in Germany with the development of the retail business did not compensate for the decline in On Trade sales in the UK. This key market for the Group suffered from the restrictions relating to Covid throughout the entire quarter whereas restrictions in 2020 began only at the end of the same quarter. The recent reopening of bars and restaurants terraces in Great Britain should allow for business recovery in this market. With a predominantly On Trade market, activity in the Iberian zone also suffered from the restrictive measures, with the Marie Brizard brand recording a decrease in Liqueur volumes in this channel, whereas Marie Brizard Anisette’s sales remained solid in the Off Trade, strengthening market share. Over the quarter, distributors also maintained stocks at low levels. In Scandinavian countries, domestic activity which had enjoyed a strong start last year, was impacted by the continued closure of the On Trade in the first quarter of 2021, penalizing brands such as Sobieski. Despite sucessive restrictions, which are still in place, Off Trade activity is holding up well. In particular, cognac sales are growing. Africa experienced a good start to the year, driven in particular by recovery of sales in Algeria. Middle Eastern markets were down but show positive signals for the coming months. As expected, bulk sales of ethyl alcohol in the Baltic States have experienced a significant decline, both in volume and price, while in Bulgaria wine performance remained dynamic in both domestic and export markets.In Poland, sales of William Peel to the Group's former subsidiary, which has now become a partner distributor, increased. The decline in shipments to the USA reflects an unfavourable base effect compared to the first quarter of 2020 as the new distribution model began January 1, 2020, when our partner began to build up stocks. The comparative base is also unfavourable due to the last direct sales recorded in the same quarter of 2020 to historical distributors under the previous commercial model. While Canada continues to be affected by anti-Covid restrictions, the Group’s sales in Brazil are benefiting from good growth in sales of local brands as well as imported brands such as Cutty Sark. In Asia-Pacific, the group recorded the business growth in the quarter, thanks in particular to the continued good performance of Marie Brizard liqueurs in Australia and Korea. It offset the persistent difficulties in Japan, which is suffering in the On Trade from the extension of the state of emergency until the end of March 2021. Marie Brizard sales began in China. Financial agenda General Meeting : June 30th, 20212021 First Half Net Sales: July 28th, 2021 About Marie Brizard Wine & Spirits Marie Brizard Wine & Spirits is a Group of wines and spirits based in Europe and the United States. Marie Brizard Wine & Spirits stands out for its expertise, a combination of brands with a long tradition and a resolutely innovative spirit. Since the birth of the Maison Marie Brizard in 1755, the Marie Brizard Wine & Spirits Group has developed its brands in a spirit of modernity while respecting its origins.Marie Brizard Wine & Spirits' commitment is to offer its customers brands of confidence, daring and full of flavours and experiences. The Group now has a rich portfolio of leading brands in their market segments, including William Peel, Sobieski, Marie Brizard and Cognac Gautier.Marie Brizard Wine & Spirits is listed on Compartment B of Euronext Paris (FR0000060873 - MBWS) and is part of the EnterNext PEA-PME150 index. ContactImage Sept Claire Doligez- Flore Largercdoligez@image7.fr – flarger@image7.frTél : +33 1 53 70 74 70 APPENDIX 2020 Net Sales by quarter under the two clusters France/International after application of IFRS 5 (*)relating to "entities sold or held for sale". in M€Q1 2020Q2 2020S1 2020Q320209 M 2020Q4 2020FY 2020France 18.020.338.317.956.219.775.9International 23.824.748.522.170.622.693.2TOTAL MBWS41.845.086.840.0126.842.3169.1 * Application of IFRS 5 "Entities sold and held for sale": restatement of the scope of consolidation relating to relating to divested activities (Poland and Moncigale) Attachment MBWS_PR_NETSALES_Q12021_EN_28AVRIL2021

  • Globe Newswire

    Marie Brizard Wine & Spirits: 2020 Net Results

    Charenton-le-Pont, April 28th, 2021 2020 Net Results > Turnaround of Group profitability with an EBITDA(*) of €10.6m, including positive one-off effects of €3.7m related to the Covid Crisis on temporary ethyl alcohol bulk sales in Lithuania and to the impact of the change of distribution model in the United States in the first half of 2020 > Significant improvement in Net Result from continuing activities : losses divided by more than 5 > Net financial debt reduced to €43.6m (*) EBITDA = EBIT – provisions for current assets – depreciation – pension liabilitiesNB: All sales growth figures mentioned in this press release are at constant exchange rates and on a like-for-like basis, unless otherwise stated. Marie Brizard Wine & Spirits (Euronext : MBWS) today announces its consolidated results for the financial year 2020, adopted by the Group’s Board of Directors held on Tuesday 27th April 2021. The audit procedures were completed by the Statutory Auditors. Andrew Highcock, Chief Executive Officer of Marie Brizard Wine & Spirits, comments on these results : “The mobilisation of our teams during this very special year and the continued operational execution of our value creation strategy have led to an improvement in EBITDA in 2020 and demonstrate the relevance of our strategic choices. Now relying on a strengthened financial structure, the Group will pursue the alignment of its costs to the size of the business on a country-by-country basis, as a key to the sustainable consolidation of its profitability. Focused on leading brands or brands with a growing reputation, MBWS is committed to addressing new consumer trends, seeking more naturalness and less alcoholic products. The pandemic has also led to the emergence of home consumption of cocktails, a trend that is likely to continue. After these encouraging results in 2020, the Group remains cautious for 2021 as the economic impact of the pandemic persists at the beginning of the year in many of its markets. We remain confident and fully committed to the success of MBWS.” Simplified income statement for the financial year 2020 in M€, except EPS2019 restated (*) 2020 Change 2020/19 Net revenues (exlcuding excise duties)166.9169.1 +2.0% EBITDA-3.510.6 + €14.1m Ebitda margin-2.0%6.3% + 830 bp Recurring operating income-7.41.0 + €8.4m Attributable Net income (Loss)-65.9-38.4 + €27.5m of which net income (Loss) from continuing operations-30.2-5.5 + €24.7m Of wich net income (Loss) from discontinued operations-35.7-32.9 + €2.8m Earnings per share, Group share (EPS,€) -1.60-0.86 Earnings per share from continuing operations, Group share (EPS, €)-0.73-0.12 (*) The 2019 financial statements have been restated in accordance with IFRS 5- Discontinued operations. Following the disposal of the Group's Polish entities (MBWS Polska and its subsidiaries) in October 2020, their consolidated P&L for the 2020 and comparative 2019 fiscal years have been restated according to IFRS 5. The same applies to the entity Moncigale, a subsidiary of MBWS France, for which the disposal project was signed on 13 October 2020 and finalised on 16 February 2021. These financial statements incorporate the new distribution agreements with the purchaser of the Polish operations which are reflected in the WEMEA cluster revenue for the 2020 and 2019 restated fiscal years..2020 Activity Revenues2019 restated2020 Organic Growth (excl. forex impact)Growth (incl. forex) (in M€ ) BRANDED BUSINESS147.9136.4 -7.1%-7.7% WEMEA 99.290.5 -8.7%-8.7% CEE 27.424.5 -10.6%-10.6% Americas 18.818.7 5.0%-0.8% Asia-Pacific 2.52.7 6.1%6.1% NON BRANDED19.032.7 72.7%72.7% TOTAL MBWS166.9169.1 2.0%1.3% For both 2019 and 2020 financial year, the WEMEA cluster revenue now includes sales recorded by the Group with the purchaser of its Polish activities, in accordance with the new distribution agreements included in the disposal operation. The slight improvement in consolidated revenue recorded in 2020 (+2.0% compared to restated 2019) reflects the context of the pandemic, which favoured bulk sales but had a very strong impact on the Brands business, following restrictive government measures in most of the markets in which the Group operates. 2020 Results The increase in revenue and the impact of bulk sales at attractive prices helped to increase the gross margin rate to 42.4% in 2020 compared to 41.3% in 2019. As part of its proactive, value-oriented sales policy, the Group reduced its marketing spending in 2020 compared to the previous year. It is also reaping the benefits of the various structural measures implemented since 2019, resulting in EBITDA of €10.6m in 2020 compared with -€3.5m in 2019 (restated for IFRS 5). All regions are EBITDA positive. Other non-recurring operating expenses, net of other non-recurring operating income, amounted to -€6.7m. They mainly consist of expenses and costs related to the financial and organisational restructuring of the Group. The net financial result amounts to €1.6m and is mainly related to the cost of financial debt and the write-back of a provision following the collection in June 2020 of part of the remaining debt in Trinidad. After a tax charge of -€1.5m, net income from all activities (Group share) amounted to -€38.4m in 2020 compared with -€65.9m at 31 December 2019, with a significant decrease in the net loss from continuing operations, to -€5.5m at the end of 2020 compared with -€30.2m at 31 December 2019. Net loss from discontinued operations is – €32.9m at 31 December 2020 vs. – €35.7m in 2019. EBITDA2019 restatedOrganic GrowthChange Effect2020 Organic Growth (excl. forex impact)Growth (incl. forex) (in M€ ) BRANDED BUSINESS6.69.90.016.5 149,7%149,7% WEMEA 6.65.10.011.7 77.1%77.1% CEE 2.8-1.10.01.7 -38.9%-38.9% Americas -2.14.80.02,7 228.5%228.5% Asia-Pacific -0.71.00.00.3 150.0%150.0% HOLDING-9.20.70.0-8.5 7.2%7.2% Total BRANDED BUSINESS-2.610.50.07.9 NON BRANDED-0.93.60.02.7 384.1%384.1% TOTAL MBWS-3.514.10.010.6 400.5%400.5% The Branded business generated EBITDA of €16.5m (excluding Holding costs), up €9.9m on the previous financial year. This significant turnaround compared to 2019 reflects the stronger protection of the gross margin thanks to the updated commercial policies under the strategic plan. WEMEA (Western Europe, Middle East and Africa) EBITDA for this region increased by 77.1% in 2020 to €11.7m.With revenues of €75.8m, down -3.3% on 2019, France recorded a 123% increase in EBITDA, from €4.8m in 2019 to €10.7m at the end of 2020, following the selective commercial policy based on profitable volumes, the reduction in marketing expenses and the impact of the distribution agreement with COFEPP on part of the commercial network. EBITDA for the rest of the cluster amounted to €1m in 2020, down -46% on 2019. It was impacted by the effects of the Covid crisis, particularly on sales in THE UK (-€1.3m vs. 2019), in Spain (with very severely disrupted Horeca sales and an 80% drop in the border volumes with France in the case of William Peel) as well as in the Scandinavian Zone (-42% vs. 2019). CEE (Central and Eastern Europe) EBITDA of the entire region remained positive at €1.7m but declined by €1.1m compared to 2019 with revenues of €24.5m, down -10.6% compared to 2019. The Covid restrictions in Lithuania, where sales amounted to €19.2m, were partly offset by positive changes in product mix, discontinuation of unprofitable contracts and price increases to improve margins on certain products. In Lithuania, where sales amounted to €19.2m, the effects of Covid restrictions were partly offset by changes in the product mix, termination of unprofitable contracts, and selling price increases to improve margins on certain products. Americas 2020 revenue for the Americas region reached €18.7m, up 5.0% compared to 2019 excluding a currency effect (of -€1.1m). EBITDA for this area reached €2.7m, an improvement of €4.8m, compared to a negative EBITDA (-€2.1m) in 2019. This reflects the benefits of the new distribution model with gradual but one-off implementation of pipeline stocks in the US market, which also enjoyed a more favourable mix effect with the increase in home consumption due to the Covid crisis. In Brazil, this positive price-mix effect was also observed following the opening of new distributors. Asia-Pacific 2020 EBITDA for the region amounted to €0.3m, an improvement of €1.0m compared to 2019, driven by a 6.1% growth in revenue (€2.7m) and a reduction in structural costs (reorganisation in China). Non Branded EBITDA improved by €3.6m in 2020, to €2.7m compared to EBITDA of -€0.9m in 2019. The solid results of private label sales and bulk activities, which grew by a very strong 72.7% compared to 2019, enabled optimal use of the production site in Lithuania despite a downturn in the second half of the year. Holding cost improved by €0.7m compared to the end of 2019, thanks to operating cost reductions (including in particular the favourable effect of the change in headquarters that took place during June 2020) and despite negative operational exchange effects of -€0.4m compared to 2019. Balance sheet at 31 December 2020 The Group's shareholders’ equity amounted to €66.3m at 31 December 2020, compared with €93.7m at the end of 2019. This change is mainly due to the negative consolidated net result for the year and the change in translation reserves, including the withdrawal of the translation reserves related to the Polish entities. At the end of December 2020, the Group's net financial debt amounted to €43.6m, down by -€3.1m compared to 2019, mainly due to the decrease in short-term financing, particularly in France and Poland. It is also worth mentioning the improvement of the operating working capital linked to the inventory clean-up policy in different markets as well as the reduction in receivables in relation to the sale of Moncigale and the Polish entities (reclassification on the line "assets held for sale" in Assets).Lastly, the Group benefited from the deferral of charges related to Covid government aid and also the implementation at the end of 2020 of a new moratorium concerning part of the tax and social charges on activities in France. Outlook Despite the difficulties linked to the global pandemic, the Group implemented the operational execution of its plan, with a focus on operations that contribute to the improvement of the profitability of its activities leading to a gradual return to positive EBITDA. It has worked to create the conditions for the profitable development of its brand portfolio and the commercial areas where it is present with a systematic focus in the commercial strategy on value as well as volume, particularly in France, the USA and Lithuania. The sale of the Polish activities in October 2020 and the wine business in France (Moncigale) in February 2021 made it necessary to simplify the operational structures, the Group being organised, since 1 January 2021, from a managerial point of view into two clusters (France and International). This strategy and the alignment of costs to the size of its activities country by country will be pursued and is a guarantee of the strengthening of the Group's profitability. In addition, the capital increase finalized on February 4, 2021 amounted to a gross amount of €100.9m (including issue premium), of which €17.4m in cash subscription proceeds paid by shareholders other than COFEPP. This capital increase allowed for the incorporation into the capital of (i) all of the bank debt (excluding factoring) acquired by COFEPP from the Company's bank lenders, namely the credit facility entered into on 26 July 2017 in the principal amount of €45m and the overdraft facilities drawn down in the principal amount of €1.1m, (ii) all the current account advances paid by COFEPP to the Company and its subsidiary MBWS France, for a total principal amount of €32m and (iii) the first tranche of the Poland advance granted by COFEPP to the Company for an amount of €3m. After repayment of the balance of the above-mentioned Poland advance, COFEPP no longer has any financial claim on the MBWS Group. After the completion of the capital increase, the Group's net financial position as at 31 March 2021 amounts to €59.7m. The main reasons for this improvement compared to December 31, 2020 were (i) the incorporation of all the above-mentioned debts and receivables as part of the capital increase, thereby reducing debt, (ii) cash subscriptions amounting to €17.4m, (iii) the payment by COFEPP of the balance of circa. €7m N°2 advance, and (iv) the collection of part of the proceeds from the sale of the activities sold (Polish entities and Moncigale). Although 2020 may present encouraging results in the context of a quite disruptive pandemic, the Group remains cautious about its roadmap for 2021 due to the continued impact of the pandemic on the beginning of the year and the likely more lasting consequences on consumption patterns. Financial agenda General Meeting : June 30th, 20212021 First Half Net Sales : July 28th, 2021 About Marie Brizard Wine & Spirits Marie Brizard Wine & Spirits is a Group of wines and spirits based in Europe and the United States. Marie Brizard Wine & Spirits stands out for its expertise, a combination of brands with a long tradition and a resolutely innovative spirit. Since the birth of the Maison Marie Brizard in 1755, the Marie Brizard Wine & Spirits Group has developed its brands in a spirit of modernity while respecting its origins.Marie Brizard Wine & Spirits' commitment is to offer its customers brands of confidence, daring and full of flavours and experiences. The Group now has a rich portfolio of leading brands in their market segments, including William Peel, Sobieski, Marie Brizard and Cognac Gautier.Marie Brizard Wine & Spirits is listed on Compartment B of Euronext Paris (FR0000060873 - MBWS) and is part of the EnterNext PEA-PME150 index. ContactImage Sept Claire Doligez- Flore Largercdoligez@image7.fr – flarger@image7.frTél : +33 1 53 70 74 70 APPENDIX FY 2020 Consolidated Financial Statements INCOME STATEMENT (in €000)31.12.202031.12.2019 Restated (1)NET SALES220,774220,476Excices tax(51,691)(53,616)NET SALES EXCL TAX169,083166,860Cost of goods sold(97,474)(97,911)External charges(24,795)(28,288)Salary expenses(32,028)(40,927)Taxes and Duties(1,989)(2,044)Depreciation and Amortization(9,699)(9,203)Other operating income4,1277,832Other operating expenses(6,178)(3,749)RÉCURRING OPERATING PROFIT1,046(7,428)Extraordinary income8,5875 861Extraordinary expenses(15,303)(26 839)OPERATING PROFIT (5,671)(28,406)Interest income 8925Interest expenses(2,934)(2,197)NET COST OF DEBT(2,845)(2,172)Other interest income6,3641,060Other interest expenses(1,870)(258)NET INTEREST EXPENSES1,649(1,370)PRE-TAX INCOME(4,023)(29,776)Income tax/credit(1,511)(433)INCOME FROM ONGOING OPERATIONS(5,533)(30,209)INCOME FROM DISCONTINUED OPERATIONS (1)(32,912)(35,711)NET INCOME(38,445)(65,921)Attributable net income(38,465)(65,926)Of which net income from ongoing operations(5,553)(30,215)Of which net income from discontinued operations(32,912)(35,711)Non-controlling interests205Of which net income from ongoing operations205Of which net income from discontinued operations Attributable Net income per share (in €)-0.12 €-0.73 €Attributable net income from ongoing operations per share fully diluted (in €)-0.12 €-0.73 €Net income per share (in €)-0.86 €-1.60 €Net income per share diluted (in €)-0.86 €-1.60 €Weighted average number of outstanding shares44,571,24641,249,151Weighted average diluted number of outstanding shares44,571,24641,249,151 (1) The financial statements (income statement) as at 31 December 2019 have been restated for the effects of the application of IFRS 5 - Discontinued Operations. BALANCE SHEETAssets (in €000)31.12.202031.12.2019 Long term assets Goodwill14,70415,039Intangible assets83,16788,031Property, plant and equipment28,11156,180Financial assets5,6392,387Long-term derivative instruments0 Deferred taxes1,2251,328Total long-term assets132,846162,965Current assets Inventory37,81153,991Trade receivables20,81346,669Tax receivables5541,735Other short-term assets22,12332,686Short-term derivative instruments70157Cash and cash equivalents42,07526,193Assets held for disposal12,900 Total current assets136,346161,431TOTAL ASSETS269,192324,396 Liabilities (in €000)31.12.202031.12.2019Shareholders’ equity Capital62,57889,396Premiums66,71166,710Consolidated and other reserves(14,083)25,568Conversion reserves(10,720)(22,234)Net Income(38,465)(65,926)Attributable Shareholders’equity66,02093,514Non-controlling interests328223Total Shareholders’ equity66,34893,737Total long-term liabilities Employee benefits3,1505,533Long-term provisions3,9263,238Long-term loans65,3529,689Other long-term liabilities1,7511,855Long-term derivative instruments Deferred tax liabilities17,87916,424Total long-term liabilities92,05836,739Current liabilities Short-term provisions7,04910,178Short-term portion of long-term debt15,02350,933Short-term debt5,28712,292Supplier and other payables34,77763,719Tax liabilities5,667481Other short-term liabilities32,58456,315Short-term derivative instruments982Liabilities held for disposal10,301 Total current liabilities110,787193,920TOTAL LIABILITIES269,192324,396 CONSOLIDATED CASH FLOW STATEMENT (in €000)31.12.202031.12.2019Total consolidated net profit(38,445)(65,921)Eliminations : Amortization and provisions5,14331,407Revaluation gains / losses (fair value)2,953279Gains/losses on disposals and dilution20,8408,550Operating cash flow after net cost of debt and tax(9,508)(25,685)Income tax charge (credit)8,776512Net cost of debt4,1006,101Operating cash flow before net cost of debt and tax3,368(19,072)Change in working capital 1 (inventories, trade receivables and payables)2,29019,922Change in working capital 2 (other items)(898)(17,524)Tax paid(335)(301)Cash flow from operating activities4,425(16,975)Acquisition of minority interests0(1,102)Purchase of property, plant and equipement and intangible assets(5,025)(9,056)Purchase of financial assets0187Increase in loans and advances granted(3,421)(117)Decrease in loans and advances granted6,823435Disposal of property, plant and equipement and intangible assets1,0392,429Impact of change in consolidation scope1,733(238)Cash flow from investing activities1,148(7,462)Capital increase058,576Share buybacks013New loans29,371235Loans repayment(12,356)(5,356)Net interest paid(702)(6,877)Net change in short-term debt(4,791)(17,933)Cash Flow from financing activites11,52128,658Impact from changes in foreign exchange rates(1,212)140Cash flow from discontinued operations and disposal proceeds00Change in cash and cash equivalents15,8824,361Opening cash position26,19321,832Closing cash position42,07526,193Change in cash and cash equivalents15,8824,361 Attachment MBWS_PR_2020AnnualResults_EN_28APRIL2021