Statement of cash flows

Description of the basic economic and financial values of the Budimex Group Consolidated profit and loss account of the Budimex Group Statement of cash flows Management of the Budimex Group’s financial resources
NoteYear ended 31 December
2 0182 017
CASH FLOW FROM OPERATING ACTIVITIES
Net profit before tax 403 388580 432
Adjustments for:
Depreciation/ amortisation3052 11137 478
Shares in net losses of equity accounted subordinates 131 7954 199
Foreign exchange (gains)/ losses (637)792
Interest and shares in profits (dividends) (1 675)(2 863)
(Profit)/ loss on investing activities (44 279)(2 659)
Change in valuation of derivative financial instruments 14,23 022(5 461)
Change in provisions and liabilities arising from retirement benefits and similar obligations 84 57960 184
Other adjustments 371 629639
Operating profit/ (loss) before changes in working capital 499 933672 741
Change in receivables and retentions for construction contracts (156 862)(179)752
Change in inventories (187 201)(241 451)
Change in retentions for construction contracts and in liabilities, except for loans and borrowings 95 966250 121
Change in deferred income(348 074)343 207
Change in the balance of valuation of construction contracts and provision for losses on construction contracts (395 899)(520 646)
Change in cash and cash equivalents of restricted use1823 86626 111
Cash flow from operating activities (468 271)350 331
Income tax paid (55 104)(154 535)
NET CASH FLOW FROM/ (USED IN) OPERATING ACTIVITIES(523 375)195 796 


NoteYear ended 31 December
2 0182 017
CASH FLOW FROM INVESTING ACTIVITIES
Proceeds from sale of intangible assets and property, plant and equipment11 7261 048
Proceeds from sale of investment properties-4 619
Purchase of intangible assets and property, plant and equipment(21 522)(32 263)
Disposal of subsidiary companies20; 3347 111-
Purchase of shares in subsidiaries -(3 240)
Increase in equity of/ acquisition of shares in non-consolidated entities 14,3(1 060)(105)
Purchase of bonds issued by banks 14,4(238 868)(665 619)
Proceeds from bonds issued by banks 14,4516 877387 610
Loans granted 14,1(10 780)(51 153)
Dividends received135-
Interest received 14.1; 14.46 1952 520
NET CASH FLOW FROM/ (USED IN) INVESTING ACTIVITIES309 684(356 583)
CASH FLOW FROM FINANCING ACTIVITIES
Loans and borrowing taken out1 611-
Repayment of loans and borrowings (968)(1 025)
Dividends paid to the shareholders of the Parent 36(449 585)(382 696)
Dividends paid to non-controlling shareholders20(134)-
Payments of liabilities under finance lease (26 862)(12 989)
Interest paid (4 445)(2 727)
Other financial expenditure(654)(643)
NET CASH (USED) IN FINANCING ACTIVITIES(481 037)(400 080)
TOTAL NET CASH FLOW(694 728)(560 867)
Foreign exchange differences on cash and cash equivalents, net907(1 317)
CASH AND CASH EQUIVALENTS - OPENING BALANCE 181 961 8492 524 033
CASH AND CASH EQUIVALENTS - CLOSING BALANCE181 268 0281 961 849
Cash and cash equivalents of disposable groups --
TOTAL CASH AND CASH EQUIVALENTS OF THE GROUP 1 268 0281 961 849