Financial Statement: Budimex Group
Consolidated statement of cash flow (PLN thousand)
| Year ended 31 December | ||
|---|---|---|
| 2013 | 2012 | |
| CASH FLOW FROM OPERATING ACTIVITIES | ||
| Net profit before tax | 331 271 | 202 628 |
| Adjustments for: | ||
| Depreciation/ amortization | 28 893 | 50 683 |
| Shares in net profits (losses) of equity accounted companies | 4 684 | 6 121 |
| Goodwill impairment | - | 45 000 |
| Foreign exchange (gains)/ losses | 182 | (1 458) |
| Interest and shares in profits (dividends) | 1 498 | 4 482 |
| (Profit)/ loss on disposal of investments | (198 406) | 3 179 |
| Change in valuation of derivative financial instruments | 5 369 | (17 656) |
| Operating profit/ (loss) before changes in working capital | 173 491 | 292 979 |
| Change in receivables and retentions for construction contracts | (140 652) | (21 380) |
| Change in inventories | 135 161 | 205 998 |
| Change in provisions and liabilities arising from retirement benefits and similar obligations |
24 612 | 36 676 |
| Change in retentions for construction contracts and in liabilities, except for loans and borrowings |
(91 708) | (137 601) |
| Change in accruals and deferred income | (17 100) | 11 274 |
| Change in amounts due and receivable under construction contracts | 239 256 | (388 315) |
| Change in advance payments received | 65 544 | (49 025) |
| Change in cash and cash equivalents of restricted use | (18 506) | 10 155 |
| Other adjustments | 3 693 | 82 |
| Cash from operating activities | 373 791 | (39 157) |
| Income tax paid | (59 130) | (4 990) |
| NET CASH FROM OPERATING ACTIVITIES | 314 661 | (44 147) |
| Year ended 31 December | ||
|---|---|---|
| 2013 | 2012 | |
| CASH FLOW FROM INVESTING ACTIVITIES | ||
| Sale of intangible and property, plant and equipment |
3 421 | 3 208 |
| Purchase of intangible assets and property, plant and equipment | (13 571) | (24 118) |
| Sale of available-for-sale financial assets | 160 | 4 676 |
| Sale of subsidiaries | 177 279 | - |
| Purchase of shares in subsidiaries and associates | (5 821) | (82 510) |
| Loans granted | (3 111) | - |
| Dividends received | 5 | 21 |
| Interest received | 93 | 30 |
| NET CASH GENERATED ON/ USED IN INVESTING ACTIVITIES | 158 455 | (98 693) |
| CASH FLOW FROM FINANCING ACTIVITIES | ||
| Loans and borrowings received | 22 106 | 59 127 |
| Repayment of loans and borrowings | (52 968) | (51 342) |
| Dividends paid | (112 077) | (280 065) |
| Payments of liabilities under finance lease | (9 623) | (14 409) |
| Interest paid | (1 538) | (4 296) |
| NET CASH USED IN FINANCING ACTIVITIES | (154 100) | (290 985) |
| TOTAL NET CASH FLOW | 319 016 | (433 825) |
| Foreign exchange differences, net | (68) | 83 |
| CASH AND CASH EQUIVALENTS - OPENING BALANCE | 1 306 746 | 1 740 488 |
| CASH AND CASH EQUIVALENTS - CLOSING BALANCE | 1 625 694 | 1 306 746 |
| Cash and cash equivalents of disposable groups | - | - |
| TOTAL CASH AND CASH EQUIVALENTS OF THE GROUP | 1 625 694 | 1 306 746 |
