(Euro/millions)31-Dec-18[1]31-Dec-17[1]31-Dec-1631-Dec-1531-Dec-1431-Dec-13
Trade receivables 219.0254.1298.7242.1259.3 312.4
Inventory 122.3120.8143.4108.2108.4124.0
Trade payables (333.4)(368.0)(415.0)(349.6)(343.4)(3,807.0)
Other assets (liabilities) 46.146.4(14.6)(31.7)(14.9)0.6
Net working capital 54.153.312.5(30.9)9.456.2
Intangible assets 226.7224.5612.2552.3553.7617.5
Tangible assets 19.123.133.331.232.443.9
Investments 32.237.643.044.939.538.6
Fixed invested capital 278.2 285.2688.5628.5625.6700.0
Provisions & severance indemnities (103.3)(101.7)(119.6)(102.7)(110.7)(134.3)
Assets/ (liabilities) of discontinued operations 89.1297.756.6
Net invested capital 317.9534.6581.4495.0580.9 621.9
Share capital 68.068.068.068.068.064.1
Reserves and minority shareholders’ equity 279.8246.9227.3221.2220.5380.0
Net result (177.1)30.422.56.40.6(185.4)
Shareholders’ equity170.7345.3317.8295.5289.1258.7
Net financial position 147.2189.2263.6199.4291.8363.2
Net invested capital 317.9534.6581.4494.9580.9

[1] Data presented in accordance with IFRS5, with Mondadori France discontinuing

Balance sheet (Euro/millions)1Q19[1]2018[1]9M181H181Q18[1]2017[1]9M171H171Q1720169M161H161Q1620159M151H15
Trade receivables 187.3 219.0 259.9266.4204.1254.1289.7268.8247.4298.7342.7313.6241.9242.1255.8260.1
Inventory 134.7 122.3 132.7146.4131.5120.8137.6160.5151.4143.4165.9184.3108.5108.2110.2115.3
Trade payables (291.4) (333.4) (354.2)(385.6)(320.3)(368.0)(377.1)(407.9)(378.6)(415.0)(441.2)(435.5)(336.1)(349.6)(359.5)(351.9)
Other assets/(liabilities) 42.9 46.1 64.916.252.446.462.124.33.7(14.6)7.518.1(24.3)(31.7)(2.0)11.2
Net working capital 73.5 54.1103.343.467.753.3112.345.723.912.574.980.5(10.0)30.94.534.7
Intangible assets 227.6 226.7224.3590.6228.1224.5225.7602.3611.8612.2599.9604.3550.9552.3556.6551.1
Tangible assets 18.2 19.121.825.122.223.123.428.731.733.334.035.330.231.230.431.0
Tangible assets IFRS16 107.0 – – – – – – – – – – – – – – –
Investments 31.4 32.336.536.836.937.640.941,642,543,044,744,544,044,943,639,9
Fixed invested capital 384.3 278.2282.7652.5287.3285.2289.9672.5686.0300.1678.6684.2625.2628.5630.6622.0
Provisions & severance indemnities (98.9) (103.3)(107.5)(122.6)(100.9)(101.7)(102.0)(111.0)(114.6)(119.6)(125.5)(117.8)(97.4)(102.7)(106.5)(97.6)
Assets/(liabilities) of discontinued operations 94.2 89.194.8299.8297.7301.210.919.145.8
Net invested capital 455.1 317.9373.2573.3553.9534.6601.5607.2595.4581.4638.8666.0517.8495.0528.6604.9
Share capital 68.0 68.068.068.068.068.068.068.068.068.068.068.068.068.068.068.0
Reserves and minority shareholders’ equity 74.8 251.1277.4279.4247.4246.9246.2250.4250.4227.3223.9227.0226.7221.1219.8222.6
Net result (3.5) (177.1)(181.5)(12.5)(13.6)30.431.24.4(9.2)22.5117.0(3.8)(1.8)6.4(2.8)(12.2)
Third-party capital and reserves (relating to discontinued operations) 29.3 28.7 – – 30.2 – – – – – – – – – – –
Shareholders’ equity 168.6 170.7163.9334.9332.0345.3345.5322.9309.2317.8309.8291.2292.8295.5285.0278.4
Net financial position 179.3147.2 209.3238.4221.9189.2256.0284.4286.2263.6329.0374.8224.9199.4243.6326.5
Net financial position IFRS16 107.1 – – – – – – – – – – – – – – –
Net invested capital 455.0 317.9373.2601.5

[1] Data presented in accordance with IFRS5, with Mondadori France discontinuing