Hrubieszow Ring road
FINANCIAL
STATEMENT:
BUDIMEX SA
Statement of cash flows
| Year ended 31 December | ||
|---|---|---|
| 2016 | 2015 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net profit before tax | 467 089 | 258 909 |
| Adjustments for: | ||
| Depreciation/amortisation | 23 358 | 19 408 |
| Foreign exchange (gains)/losses | (157) | 208 |
| Interest and shares in profits (dividends) | (36 364) | (13 550) |
| (Profit)/loss from investing activities | 1 446 | (11 717) |
| Change in valuation of derivative financial instruments | (2 512) | (1 577) |
| Change in provisions and liabilities arising from retirement benefits and similar obligations | 54 271 | 24 019 |
| Other adjustments | (171) | 672 |
| Operating profit/(loss) before changes in working capital | 506 960 | 276 372 |
| Change in receivables and retentions for construction contracts | (123 050) | 57 396 |
| Change in inventories | (80 169) | (23 784) |
| Change in retentions for construction contracts and in liabilities, except for borrowings and loans |
393 547 | (14 382) |
| Change in amounts due and receivable under construction contracts | (26 010) | 329 239 |
| Change in deferred revenue | (55 875) | 216 630 |
| Change in cash and cash equivalents of restricted use | 15 206 | (5 734) |
| Cash flow from operating activities | 630 609 | 835 737 |
| Income tax paid | (96 500) | (73 838) |
| NET CASH FLOW FROM OPERATING ACTIVITIES | 534 109 | 761 899 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Proceeds from sale of intangible assets and property, plant and equipment | 1 046 | 6 037 |
| Purchase of intangible assets and property, plant and equipment | (40 751) | (29 488) |
| Proceeds from sale of investment properties | - | 14 000 |
| Acquisition of shares in related parties | (150) | (58 205) |
| Loans granted | (9 163) | (21 302) |
| Repayment of loans granted | - | 54 921 |
| Dividends received | 36 586 | 11 362 |
| Interest received | 1 918 | 1 120 |
| Other inflows from investing activities | 47 | 1 911 |
| NET CASH USED IN INVESTING ACTIVITIES | (10 467) | (19 644) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Dividends paid | (207 815) | (155 989) |
| Payments of liabilities under finance lease agreements | (11 318) | (11 953) |
| Interest paid | (821) | (668) |
| NET CASH USED IN INVESTING ACTIVITIES | (219 954) | (168 610) |
| TOTAL NET CASH FLOWS | 303 688 | 573 645 |
| Foreign exchange differences, net | 492 | (213) |
| CASH AND CASH EQUIVALENTS – OPENING BALANCE | 1 935 366 | 1 361 934 |
| CASH AND CASH EQUIVALENTS – CLOSING BALANCE | 2 239 546 | 1 935 366 |