| |
Year ended |
| |
2006 |
2005 |
Operating activities: |
|
|
| Profit before financing and taxation |
1 861 704 |
2 514 360 |
| Adjustments to reconcile profit to cash generated from operations: |
|
|
| Depreciation and amortization |
963 148 |
496 597 |
| (Reversal of impairment)/impairment of assets |
57 736 |
(65 159) |
| Provisions against inventories and receivables |
(11 641) |
27 629 |
| Negative goodwill |
(4 213) |
(7 630) |
| Loss on disposal of property, plant and equipment |
69 989 |
36 770 |
| Gain on restructuring of tax liabilities |
(14 669) |
(174 178) |
| Loss on disposal of subsidiaries/associates |
(846) |
9 759 |
| Gain on remeasurement and disposal of financial investments |
(32 673) |
(24 292) |
| Dividends from associates less share of associates' income |
1 193 |
17 413 |
| Changes in operating assets and liabilities: |
|
|
| Trade accounts receivable |
(16 474) |
10 585 |
| Amounts receivable from related parties |
92 387 |
43 006 |
| VAT recoverable |
140 315 |
(222 739) |
| Inventories |
(309 296) |
(73 542) |
| Trade accounts payable |
57 562 |
16 323 |
| Amounts payable to related parties |
(101 337) |
53 386 |
| Other non-current liabilities |
10 396 |
13 114 |
| Net other changes in operating assets and liabilities |
43 883 |
45 449 |
| Cash generated from operations |
2 621 049 |
2 690 814 |
| Interest paid (excluding banking operations) |
(215 081) |
(199 177) |
| Income tax paid |
(676 582) |
(557 303) |
| Net cash provided from operating activities |
1 729 386 |
1 934 334 |
Investing activities: |
|
|
| Additions to property, plant and equipment |
(1 243 831) |
(1 204 415) |
| Additions to intangible assets |
(8 808) |
(32 322) |
| Net additions to short-term bank deposits |
(431 142) |
(133 526) |
| Additions to financial investments and associates |
(1 203 824) |
(817 558) |
| Buy out of minority interests |
(70 741 |
(115 432) |
| Net cash outflow on acquisitions of subsidiaries |
(281 133) |
219 675 |
| Net cash inflow/(outflow) on disposals of subsidiaries |
1 588 |
13 701 |
| Proceeds from disposal of property, plant and equipment |
14 023 |
10 893 |
| Proceeds from disposal of financial investments |
949 480 |
816 671 |
| Interest received (excluding banking operations) |
105 251 |
53 911 |
| Cash used for investing activities |
(2 169 137) |
(1 178 089) |
Financing activities: |
|
|
| Proceeds from debt finance |
1 379 209 |
1 156 982 |
| Repayment of debt finance |
(1 495 440) |
(1 357 997) |
| Proceeds from share issues |
1 105 197 |
- |
| Parent company dividends paid |
(269 286) |
(277 605) |
| Minority capital contributions |
6 685 |
37 734 |
| Net other cash flows from financing acitivities |
- |
(7 742) |
| Cash (used for)/provided from financing activities |
726 365 |
(448 628) |
| Effect of exchange rates on cash |
86 251 |
(70 551) |
| Net (decrease)/increase in cash and cash equivalents |
372 865 |
237 066 |
| Cash and cash equivalents at beginning of the period |
1 327 430 |
1 090 364 |
| Cash and cash equivalents at end of the period |
1 700 295 |
1 327 430 |
