Consolidated financial statements Consolidated statement of cash flows

Consolidated statement of cash flows

 

(PLN ‘000) Note Year ended
Dec 31 2009
Year ended
Dec 31 2008
(comparable data)
Cash flows from operating activities
Net profit/(loss) from continuing operations 911,812 (389,415)
Adjustments:
Share in net profit of subordinated undertakings accounted for using the equity method (8,227) (26,551)
Depreciation and amortisation 284,793 315,012
Foreign exchange (gains)/losses (455,858) 366,730
Interest and dividends 36,864 13,028
(Profit)/loss on investing activities 231,013 29,564
Income tax paid (187,291) (308,695)
Current income tax 41 197,796 (114,285)
(Increase)/decrease in receivables 25 (187,480) 164,938
(Increase)/decrease in inventories 25 (575,767) 141,685
(Increase)/decrease in liabilities and accurals and deferred income 25 692,711 (109,199)
(Decrease)/increase in provisions 25 (48,866) 35,511
Decrease/(increase) in prepayments and accrued income 25 19,045 (44,883)
Settlement of financial instruments (216,047) 238,166
Other adjustments - 64
Net cash provided by/(used in) operating activities 694,498 311,670
Cash flows from investing activities
Dividends received 1,737 27,661
Interest received 4,252 30,655
Sale/ (purchase) of property, plant and equipment and intangible assets (3,072,664) (1,699,582)
Sale/ (purchase) of current financial assets 2,758 1,509
Repayment of non-current loans advanced - 17
Non-current loans advanced - -
Acquisition of Energobaltic Sp. z o.o., net of cash acquired 17 (1,526) -
Acquisition of Rafineria Nafty GLIMAR S.A., net of cash acquired - 3,987
Prepayments for tangible assets under construction (258,581) (778,953)
Cash related to loss of control over subsidiary (367) -
Other items, net (15,278) (2,406)
Net cash provided by/(used in) investing activities (3,339,669) (2,417,112)
Cash flows from financing activities
Increase in loans and borrowings 2,263,790 2,352,749
Repayment of loans and borrowings (195,696) (86,449)
Interest paid (126,067) (61,517)
Dividend paid 29 (15) (2,578)
Decrease in finance lease liabilities (1,737) (737)
Settlement of financial instruments 216,047 (238,166)
Other items, net (478) (157)
Net cash provided by/(used in) financing activities 2,155,844 1,963,145
Effect of exchange rate fluctuations on cash held 2,339 3,546
Change in net cash (486,988) (138,751)
Cash and cash equivalents at beginning of period 25 338,353 477,104
Cash and cash equivalents at end of period 25 (148,635) 338,353
- restricted cash 24 20,420 84,160

This is a translation of a document originally issued in Polish

The notes to the financial statements, presented on pages 10-150, are their integral part.