Financial Statement:
Budimex SA
Cash Flow Statement
| Year ended 31 December | ||
|---|---|---|
| 2015 | 2014 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net profit before tax | 258 909 | 195 919 |
| Adjustments for: | ||
| Depreciation/amortisation | 19 408 | 20 269 |
| Foreign exchange (gains)/losses | 208 | 33 |
| Interest and shares in profits (dividends) | (13 550) | (60) |
| (Profit)/loss from investing activities | (11 717) | (1 492) |
| Change in valuation of derivative financial instruments | (1 577) | 2 125 |
| Change in provisions and liabilities arising from retirement benefits and similar obligations | 24 019 | 20 984 |
| Other adjustments | 672 | 749 |
| Operating profit/(loss) before changes in working capital | 276 372 | 238 527 |
| Change in receivables and retentions for construction contracts | 57 396 | 41 505 |
| Change in inventories | (23 784) | 29 305 |
| Change in retentions for construction contracts and in liabilities, except for borrowings and loans |
(14 382) | (211 175) |
| Change in amounts due and receivable under construction contracts | 329 239 | 193 817 |
| Change in deferred revenue | 216 630 | 183 234 |
| Change in cash and cash equivalents of restricted use | (5 734) | (5 939) |
| Cash used in operating activities | 835 737 | 469 274 |
| Income tax paid | (73 838) | (55 063) |
| NET CASH FROM OPERATING ACTIVITIES | 761 899 | 414 211 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Proceeds from sale of intangible assets and property, plant and equipment | 6 037 | 1 894 |
| Purchase of intangible assets and property, plant and equipment | (29 488) | (13 662) |
| Proceeds from sale of investment properties | 14 000 | 1 530 |
| Inflows under capital decrease in related parties | - | 238 600 |
| Acquisition of shares in related parties | (58 205) | (9 800) |
| Borrowings granted | (21 302) | (43 207) |
| Repayment of borrowings granted | 54 921 | 8 820 |
| Dividends received | 11 362 | 36 |
| Interest received | 1 120 | 854 |
| Other inflows from investing activities | 1 911 | - |
| NET CASH FROM INVESTING ACTIVITIES | (19 644) | 185 065 |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Dividends paid | (155 989) | (302 532) |
| Payments of liabilities under finance lease agreements | (11 953) | (10 226) |
| Interest paid | (668) | (941) |
| NET CASH USED IN INVESTING ACTIVITIES | (168 610) | (313 699) |
| TOTAL NET CASH FLOWS | 573 645 | 285 577 |
| Foreign exchange differences, net | (213) | 200 |
| CASH AND CASH EQUIVALENTS – OPENING BALANCE | 1 361 934 | 1 076 157 |
| CASH AND CASH EQUIVALENTS – CLOSING BALANCE | 1 935 366 | 1 361 934 |
