(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)1H19[1]1Q19[1]2018[1]9M18[1]1H18[1]1Q18[1]2017[1]9M17[1]1H171Q1720169M161H161Q1620159M15
Trade receivables 223.1 187.3 219.0 259.9227.9204.1254.1289.7268.8247.4298.7342.7313.6241.9242.1255.8
Inventory 134.6 134.7 122.3 132.7140.7131.5120.8137.6160.5151.4143.4165.9184.3108.5108.2110.2
Trade payables (319.3) (291.4) (333.4) (354.2)(340.0)(320.3)(368.0)(377.1)(407.9)(378.6)(415.0)(441.2)(435.5)(336.1)(349.6)(359.5)
Other assets/(liabilities) 62.1 42.9 46.1 64.967.352.446.462.124.33.7(14.6)7.518.1(24.3)(31.7)(2.0)
Net working capital100.5 73.5 54.1103.395.967.753.3112.345.723.912.574.980.5(10.0)30.94.5
Intangible assets 225.8 227.6 226.7224.3226.2228.1224.5225.7602.3611.8612.2599.9604.3550.9552.3556.6
Tangible assets 17.6 18.2 19.121.825.122.223.123.428.731.733.334.035.330.231.230.4
Tangible assets IFRS16 101.1 107.0 – – – – – – – – – – – – – –
Investments 30.0 31.4 32.336.536.336.937.640.941,642,543,044,744,544,044,943,6
Fixed invested capital 374.5 384.3 278.2282.7284.6287.3285.2289.9672.5686.0300.1678.6684.2625.2628.5630.6
Provisions & severance indemnities (91.7) (98.9) (103.3)(107.5)(103.6)(100.9)(101.7)(102.0)(111.0)(114.6)(119.6)(125.5)(117.8)(97.4)(102.7)(106.5)
Assets/(liabilities) of discontinued operations 93.5 94.2 89.194.8296.4299.8297.7301.210.919.1
Net invested capital 476.8 455.1 317.9373.2573.3553.9534.6601.5607.2595.4581.4638.8666.0517.8495.0528.6
Share capital68.0 68.0 68.068.068.068.068.068.068.068.068.068.068.068.068.068.0
Reserves and minority shareholders’ equity 74.6 74.8 251.1277.4248.8247.4246.9246.2250.4250.4227.3223.9227.0226.7221.1219.8
Net result (1.9) (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)
Third-party capital and reserves (relating to discontinued operations) 29.9 29.3 28.7 28.2 30.6 30.2 – – – – – – – – – –
Shareholders’ equity 170.6 168.6 170.7163.9334.9332.0345.3345.5322.9309.2317.8309.8291.2292.8295.5285.0
Net financial position 204.2 179.3147.2 209.3238.4221.9189.2256.0284.4286.2263.6329.0374.8224.9199.4243.6
Net financial position IFRS16 102.0 107.1 – – – – – – – – – – – – – –
Net invested capital 476.8573.3

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